Latest news with #Lao
GMA Network
14 hours ago
- Business
- GMA Network
D&L upbeat on exports despite global uncertainties
Listed oleo-chemicals and food ingredients maker D&L Industries Inc. is expecting exports to drive its continued profitability despite global trade uncertainties amid US reciprocal tariffs and expected retaliatory moves by major economies. 'While global uncertainties seem to be the dominant theme affecting business sentiment in the near term, D&L remains unfazed and continues to focus on building resiliency and long-term growth strategies. Management believes that with D&L's product portfolio, the majority of which caters to basic and essential industries, the company will continue to grow and be relevant in an ever-changing business environment and world trade order,' the company said in a statement following its Annual Shareholders Meeting. 'Over the longer term, management has a lot of confidence that the new investments that the company has made over the past years will pave the way for higher and more sustainable profit growth,' it said. Cash flow will continue to be healthy, D&L president and CEO Alvin Lao said, and 'we do expect profitability to continue to increase.' 'As part of the efforts of ramping up production in our Batangas plant, we're focusing on exports, and because of that, we are visiting clients in other countries and attending trade shows and exhibitions to try and drum up business. Because of that, we are able to get new clients in new markets all the time,' said Lao. During its stockholders' meeting, D&L declared total cash dividends of P1.52 billion, up from the P1.49-billion payout a year ago. D&L booked a net income for the first quarter of 2025 of P681 million, up 10% year-on-year. Lao earlier said that 'the Philippines may be one of the least affected countries given its import-heavy trade balance.' 'In addition, the lower proposed reciprocal tariff for the Philippines versus its neighboring countries may put the Philippines in an advantageous position,' he said. In April, US President Donald Trump announced sweeping reciprocal tariffs on its trading partners, including the Philippines, which would be facing a 17% tariff on its imports to the US. Trump eventually put his new tariff strategy on hold for 90 days. —VBL, GMA Integrated News
The Star
14 hours ago
- Business
- The Star
First mango shipment from Laos to China signals agricultural trade era
The Minister of Agriculture and Forestry, Dr Linkham Douangsavanh (centre), leading a ribbon-cutting ceremony on May 30 to mark the formal send-off of Laos' first mango shipment to China. - VT VIENTIANE: Ninety tonnes of fresh mangoes from Laos have been despatched to Chinese markets, which are anticipated to have a total demand for 1,500 tonnes of the fruit. The ceremony marking the inaugural shipment, held on May 30, was a milestone for Laos's agricultural sector. Laos celebrated the departure of its first shipment of fresh mangoes, equivalent to three truckloads, to China. The ceremony was attended by the Minister of Agriculture and Forestry, Dr Linkham Douangsavanh, senior economic and commercial counsellors from the Chinese Embassy in Laos, and officials and representatives from both countries. The historic export marked a significant step in strengthening agricultural cooperation between Laos and China. It followed the 2023 agreement by both governments allowing the export of fresh Lao mangoes to Chinese markets, a deal that opened the door to expanded trade and investment opportunities. Speaking at the event, the Director General of the Department of Agriculture under the Ministry of Agriculture and Forestry, Bounchan Kombounyasith, highlighted the importance of meeting stringent plant health and hygiene standards while preparing the shipment. 'We are prioritising the promotion of high-potential agricultural products that meet international market demands,' he said, adding that such efforts aim to reduce import reliance, conserve foreign currency, and encourage value-added processing for exports. Zhang Ziyong, who represented Henan Changjiu Agricultural Technology Co Ltd, shared insights on the scale of mango cultivation in Laos. 'Mango farming has seen rapid growth, with a total cultivated area of 2,248 hectares across Laos in 2023. This partnership not only benefits local farmers but also enhances regional trade integration,' he said. He said exports of mangoes from Laos are anticipated to grow to 1,500 tonnes in the years to come. To date, Laos and China have officially agreed on 35 plant health and quarantine protocols. Laos's agricultural production has been on an upward trend, touching 11.09 million tonnes in 2024, a 14 percent increase over the previous year. Major contributors to this growth include crops such as hard maize, sugarcane, cassava, bananas, watermelons and coffee. Commercial crop cultivation too has demonstrated impressive results, with an estimated output of 9.71 million tonnes, or 99 per cent of an ambitious 9.75 million tonne target for 2024, according to a report presented at the first Lao Agri Expo last year. The value of agriculture and forestry exports exceeded US$1,214 million in the first nine months of 2024, surpassing the approved target of US$1,200 million by one per cent. As the trucks rolled out, carrying the fruits of Lao soil towards new international markets, the moment underscored a broader vision: Laos is emerging as a key player in regional agritrade, leveraging its natural resources to strengthen economic ties and uplift rural livelihoods. - Vientiane Times/ANN
The Star
20 hours ago
- Business
- The Star
Laos to develop AI infrastructure with green energy
VIENTIANE: Laos' Ministry of Technology and Communications will conduct a feasibility study for a project aimed at developing and delivering artificial intelligence (AI) infrastructure services powered by green energy. This will serve as a pilot project for an AI centre powered by clean energy, according to a report by the ministry on Monday (June 2). The project involves conducting a feasibility study on the creation of an AI Special Economic Zone covering more than 150 hectares in Lao capital Vientiane, utilising green energy sources to support the country's digital transformation and strengthen its AI capabilities. As part of its digital transformation efforts, the Lao government is steadily integrating technology into public administration and services, guided by a national strategy focused on building a digital economy and society. - Xinhua
The Star
2 days ago
- Politics
- The Star
Laos reaffirms to prioritise children's rights
VIENTIANE (Xinhua): Laos has reaffirmed its commitment to prioritising children's rights and continuing to create safe and supportive environments for children to thrive, recognizing children and youth as key to the nation's future. In his speech marking the International Children's Day, Lao Prime Minister Sonexay Siphandone reaffirmed the government's strong commitment to advancing and protecting children's rights. He also extended his best wishes to all children, recognizing them as invaluable assets to their families and the nation's future. In an interview with Xinhua, Chansamone, a mother of two, emphasized that children and youth are the future and hope of Laos. She highlighted the importance of investing in their education, health, and overall well-being, stressing that such efforts are essential for the country's long-term development. "I believe that providing children with equal opportunities will enable them to grow into capable individuals who can contribute meaningfully to society. I urge all parents and relevant sectors to empower every child, so that we can ensure a brighter future for the nation," she added. Viphavanh, a 28-year-old resident of the Lao capital of Vientiane, shared his view that children are not only future leaders but also active contributors to the country's development. He emphasized that beyond formal education, it is essential to give children the freedom to enjoy their childhood through play and participation in various activities. These experiences, he said, help children develop real-world skills that will prepare them to contribute meaningfully to Laos' growth. Tingnoy, a 23-year-old office worker, highlighted the importance of the International Children's Day as a special time for families to come together. He emphasized that beyond gifts, the celebration is about spending quality time, sharing activities, and showing love and attention to children. These precious moments strengthen family bonds and make children feel truly valued and happy. Enditem
The Star
2 days ago
- Business
- The Star
Lao officials hold meeting to review economic situation
VIENTIANE (Xinhua): Lao government officials have held a meeting to review the economic performance in May, Lao News Agency reported on Monday. During the monthly meeting for May, held from May 29 to May 30, it was disclosed that by the end of May, state budget revenue had reached 93 percent of the target for the first half of the year. Inflation declined from 11.1 per cent in January to 8.3 per cent in May, according to the media. -- Xinhua
