Economy and commerce
Investment
Tourism sector looking to boost its capacity
The engagement of local authorities and investments will help the government boost the number of foreign travellers over the years to come, reports a senior tourism official. Deputy Director General of Tourism Development Department under the Ministry Information, Culture and Tourism Ms Phonemaly Inthaphom told ...
Govt warned to manage growing debt
Economists have warned the government needs a long-term strategy for managing its burgeoning debt against obligations while it works on securing more efficient and additional revenue sources. At the moment, Laos requires 1,559 billion kip to meet its budget expenditure following revenue shortfall in the ...
Maximum concession period cut to half century in investment promotion overhaul
A newly-amended Investment Promotion Law has moved to cut by half the maximum investment period for new concession projects to 50 years, down from previous maximum period of 99 years. The move is aimed at maximising investment benefits for the Lao economy, an official from ...
Southeast Asian capitals bristle at Trump's trade probe
The Trump administration’s order to probe U.S. trading partners for unfair practices has provoked outrage in the Southeast Asian nations under scrutiny, and threatens to deepen a divide that leaves the region more exposed to Chinese influence. Indonesia, for one, has challenged the notion that ...
Vietnam's FPT looks to put self-driving cars on Asian roads
IT company to challenge global giants with low-cost tech. Vietnam’s FPT aims to jostle into competition among industry titans like Apple and Google over autonomous vehicles by commercializing a low-cost system within the next two years. The country’s leading information technology company is targeting about $200 million in annual sales from ...
Tepco, Toshiba to manage power grids in Cambodia
Tokyo Electric Power Co. Holdings will team with Toshiba to manage power grids in Cambodia, hoping to secure a new earnings source as the utility grapples with soaring cleanup costs for the Fukushima nuclear plant disaster. T.T. Network Infrastructure Japan, a joint venture between Tepco and Toshiba, ...
HCMC residents race to beat heat
Sales of air conditioners and fruit in HCM City soared in recent days as a heat wave hit the area. Over the weekend, Nguyễn Kim, one of the largest chains of electronics stores in the city, was packed with customers looking for air conditioners, fans ...
3 titanium companies ordered to stop operations
The central province’s environmental department has ordered three titanium exploitation companies to suspend operations, which have continued for the last three years despite expired licences. The three companies – Mỹ Tài Co Ltd, Tấn Phát Co Ltd and Ban Mai Production & Commerce Co Ltd ...
For a healthy living environment
Some bad elements have taken advantage of the marine environment disaster in the central region last year to instigate some local Catholics to cause social disorder. Their purpose is to cook up a story about what they call “religious and democratic suppression”, create an image of ...
Vietnamese cosmetics less favored as foreign products dominate market
Vietnam is a large cosmetics market with turnover of $1.1 billion last year, but there is now little room for Vietnamese manufacturers. The founder of La House, a cosmetics brand, has complained about the difficulties of opening shops at large shopping malls. The owners of malls ...
