Latest news with #Lao
The Star
4 hours 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
4 hours 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
The Star
12 hours ago
- Business
- The Star
Lao economic indicators show signs of recovery amid global uncertainty
Tourists visit the town of Luang Prabang, a Unesco world heritage site in Laos, July 15, 2022. Foreign tourist arrivals rose by 21 per cent year-on-year to 4.12 million, generating US$1.13 billion in revenue. - Xinhua) VIENTIANE: The Lao government has observed encouraging signs of economic recovery, despite ongoing domestic economic difficulties and global turbulence. Inflation dropped to 8.3 per cent in May, marking the first single-digit rate since May 2022. This reflects a steady decline over 11 consecutive months since June last year, easing the price hikes that had affected the country for years. Improved revenue collection also supported fiscal operations, with government earnings reaching 93 percent of the first half-year target, amounting to 31,773 billion kip (US$1.476 billion). However, expenditure reached only 56.26 per cent, or 21,682 billion kip, of the planned budget. 'The government will strive to meet or exceed its revenue targets,' the government spokesperson Sonexay Sitphaxay told local media on Friday (May 30) following the two-day cabinet meeting for May. Exports (excluding electricity) rose 16.2 per cent from the previous month to over US$662 million (14,284 billion kip), resulting in a trade surplus of over US$14 million (302 billion kip). Increased exports have strengthened foreign reserves, now sufficient to cover at least five months of imports. 'Debt servicing for both domestic and external obligations is proceeding as planned,' added Sonexay, who also serves as Minister to the Prime Minister's Office. Chaired by Prime Minister Sonexay Siphandone, the monthly cabinet meeting reviewed implementation of the socio-economic development plan and expected performance for the first half of 2025 and preparations for the second half. The government has set a growth target of 4.8 per cent this year, up from 4.6 per cent in 2024. The cabinet noted that efforts to ramp up domestic production and reduce imports are gaining momentum, as Laos is becoming largely self-sufficient in producing staple foods to meet domestic consumption needs. Meanwhile, tourism continues to rebound, thanks to improved transport networks and promotional campaigns under the Visit Laos Year 2024 initiative. Foreign tourist arrivals rose by 21 per cent year-on-year to 4.12 million, generating US$1.13 billion in revenue. The cabinet also discussed measures to further develop transport infrastructure. Key projects include the nearly completed bridge across the Mekong River linking Lao Xayaboury and Bokeo provinces, and the Fifth Lao-Thai Friendship Bridge connecting Borikhamxay province with Thailand's Bueng Kan province, set to open by year-end. These projects are expected to boost trade and regional connectivity. Efforts are underway to enhance passenger and freight transport, leveraging the Laos-China and Laos-Thailand railways and the Thanaleng Dry Port - Laos integrated logistics hub. Investment promotion remains a priority with effort being accelerated to improve the business environment. In May alone, seven new projects were approved, worth more than 9,244 billion kip and US$3 million (more than 64 billion kip). Looking ahead, the cabinet outlined key actions for the coming months, including strengthening foreign reserves, centralising foreign currency exchange, prioritising essential imports, monitoring goods price in local markets and enhancing revenue collection mechanisms. Other priorities include regulating movement of and certifying concentration of minerals, repairing disaster-hit infrastructure, expanding vocational training, and creating jobs. To support long-term growth and stability, the cabinet approved in principle seven strategic documents. These include draft strategies on state finance through 2035 and a vision for 2040, as well as draft decrees on direct borrowing, One District One Product, startup promotion, and tourism attraction management. The draft Five-Year National Socio-Economic Development Plan for 2026–2030 was also presented at the meeting. - Vientiane Times/ANN
The Star
a day ago
- Business
- The Star
Laos inflation eases to 8.3% in May, but key prices remain high
VIENTIANE (Laotian Times): The inflation rate in May stood at 8.3 per cent, showing a significant drop from 11.1 per cent in April, according to a report from the Lao National Statistic Bureau. While this suggests some relief for consumers, prices of many essential goods and services continue to rise. The highest year-on-year price increases were seen in housing, water, electricity, and fuel, which jumped 21.6 per cent, followed by healthcare and pharmaceuticals at 19.8 percent, and household goods at 16.3 per cent. Other notable increases included education, restaurants and hotels, and tobacco and alcohol. Even on a month-to-month basis, prices edged up by 0.5 per cent compared to April. Food costs increased slightly, with pork prices rising 3.5 percent, poultry by 1.1 percent, and fish and seafood by 0.6 per cent. Healthcare services saw a noticeable increase of 1.7 per cent, driven by a 5.7 per cent rise in hospital and clinic fees. The other goods and services category saw a 2.8 percent increase, especially in items like precious metals, which went up 4.7 per cent, and furniture, which jumped 5.5 per cent. Despite the general increase, a few categories saw small price drops. Clothing and footwear dipped slightly by 0.1 per cent, and telecommunication equipment also declined by 0.1 per cent. Looking more closely at inflation types, the core inflation or base rate (which excludes highly volatile items) was 11.7 per cent in May. Domestic goods saw an inflation rate of 8.7 per cent, mainly due to rising prices of fresh foods like rice and vegetables. Meanwhile, imported goods experienced a 7.5 per cent increase, driven by higher costs for clothing, electronics, and household items. Although the overall inflation rate is lower than the previous month, many Lao households continue to feel the pinch as essential goods and services remain costly. - Laotian Times
The Star
a day ago
- Politics
- The Star
China appreciates Laos' participation in establishing IOMed: Chinese Foreign Minister
HONG KONG: Laos actively participates in the establishment of the International Organisation for Mediation (IOMed), takes the lead in signing the convention and makes significant contributions, for which the Chinese side expresses appreciation, Chinese Foreign Minister Wang Yi said here on Friday (May 30). Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lao Deputy Prime Minister Saleumxay Kommasith, who participated in the signing ceremony of the Convention on the Establishment of the IOMed in Hong Kong, south China. The IOMed explores new pathways and creates a new platform for resolving international disputes, and maintaining peace and stability, Wang said, expressing the confidence that Laos will continue to play an active role in promoting the early entry into force of the convention and facilitating the effective operation of the IOMed. When discussing the relationship between China and Laos, Wang said China is willing to work with Laos, guided by the implementation of the important consensus reached by the top leaders of both parties and countries, to deepen strategic cooperation, cultivate collaborative momentum, strengthen bilateral and multilateral coordination, jointly resist unilateral bullying actions, uphold multilateralism and international fairness and justice, and promote the development of the China-Laos community with a shared future to a higher level. For his part, Saleumxay said that mediation reflects the cultural characteristics of Asia and that developing countries are more inclined to resolve disputes through mediation. He believes that the IOMed will attract more countries to join and play an important role in promoting regional peace and security. The Lao leader also expressed gratitude for China's long-standing and steadfast support, emphasising the importance of strengthening exchanges at all levels, advancing cooperation projects such as the Laos-China-Thailand railway, and achieving more progress in the construction of the Laos-China community with a shared future. - Xinhua
