Economy and commerce

Vientiane authorities are aiming to grow the capital’s economy by 11 percent this year and expect that GDP will increase by 41.6 trillion kip. ​It is also anticipated that the capital’s residents will have an annual average per capita income of US$5,000.​ The agriculture and ...

Sugar output in the 2015-16 crop was 1.23 million tonnes, a year-on-year drop of 12.7 percent, said Phạm Quốc Doanh, Chairman of the Việt Nam Sugarcane and Sugar Association, at a seminar in HCM City last week of sugar producers, distributors and consumers. Together with 185,000 ...

More and more Lao people are travelling overseas, particularly to Thailand and other ASEAN countries, thanks to Laos’ continuing economic growth which has generated increasing wealth. Director General of the Ministry of Information, Culture and Tourism’s Tourism Marketing Department, Mr Saly Phimphinith, told Vientiane Times ...

Since reaching a deal to import agricultural products from the kingdom to Russia in mid-2016, Cambodia and Russia have now started talks on boosting trade involving agriculture, garments and oil. Cambodia asked Russia to import milled rice, sugar and garment products to comply with the agreement ...

Cambodia will prohibit land-based imports of refined petroleum products from January 1 to eliminate smuggling along the country’s borders and improve the efficiency of customs revenue collection, officials said on December 29. According to the General Department of Customs and Excise, which announced the ban ...

A massive $300 million expansion of the Kingdom’s principal seaport announced this week will significantly improve supply chain logistics, reduce transport costs, and increase the competitiveness of Cambodian goods in international markets, private sector leaders said on December 29. Sin Chanthy, president of the Cambodia ...

The government has commissioned a Chinese consortium to build a new international airport for Siem Reap and formed a committee to determine how to compensate the French company that operates the city’s existing airport for prematurely ending its concession licence, according to documents obtained on ...

Japanese appliance maker aims to rely less on tourist shopping sprees. Zojirushi’s earnings have plateaued as buying by foreign tourists has ebbed, forcing the Japanese kitchen appliance manufacturer to seek customers in new markets, particularly Southeast Asia. The company said Monday that group sales edged ...

Japan’s Taiyo Life Insurance will jointly establish an insurance software company in Myanmar as early as February, partnering with local business in an effort to secure its position here before the market opens to foreign investment. The enterprise will launch with roughly 1.2 billion kyat ...

Cassava prices rose this month compared with a few months ago due to limited supply, but the market for cassava is uncertain. Sorn Yin, the president of Malai Trading that collects cassava in Banteay Meanchey province and sells to Thailand, said that despite the price rising ...