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Laos: MOF To Tap Into Singapore Expertise In Public Finance Modernisation

The Singapore Cooperation Enterprise (SCE) and the World Bank recently signed a Memorandum of Understanding to provide technical assistance to the Lao Ministry of Finance (MOF).

The Singapore Cooperation Enterprise (SCE) and the World Bank recently signed a Memorandum of Understanding to provide technical assistance to the Lao Ministry of Finance (MOF). The MOU formalizes the partner collaboration on a Public Finance Modernisation and Governance Programme (PFMGP), with a grant amount of $752,000. The programme is part of an overall effort by the Lao government to strengthen its public financial management and aid effectiveness in the country.

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ADB Grants $20 Million For Laos Sustainable Natural Resource Management Project

The Asian Development Bank (ADB) will provide US$20 million in grant aid to the Sustainable Natural Resource Management and Productivity Enhancement Project.

The Asian Development Bank (ADB) will provide US$20 million in grant aid to the Sustainable Natural Resource Management and Productivity Enhancement Project. The project aims to help the government protect the country's rich and diverse natural resources from commercial development in the five southern provinces of Savannakhet, Sekong, Saravan, Champassak and Attapeu. The project is co-financed on a grant basis by the International Fund for Agricultural Development (IFAD) of $15 million. Moreover, the Government of Japan's Special Fund, which is managed by the ADB, will also provide $700,000 to go into training resources to support the project.

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Laos: Trade With Vietnam To Reach $1 Billion by 2010

The Lao government is expecting the trade between Laos and Vietnam to increase from $423 million in 2008 to $1 billion by 2010 after the two countries signed a new agreement on cross-border procedures in Vientiane last week.

The Lao government is expecting the trade between Laos and Vietnam to increase from $423 million in 2008 to $1 billion by 2010 after the two countries signed a new agreement on cross-border procedures in Vientiane last week. The agreement is part of their effort to facilitate trade between the two countries by reducing the existing documentary inspecting processes. Now, only a single goods declaration form is needed by the owners to be shown to inspectors to verify that the shipment is destined to third countries and the 10 ASEAN nations and not meant for Laos and Vietnam, removing the possibility that inspects will impose taxes on those goods.

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Laos: World Tourism Authority Gives $24,000 To Xekong Province

The World Tourism Authority gave $24,000 for the construction of a tourist village in Kandone village, Thataeng district, Xekong province.

The World Tourism Authority gave $24,000 for the construction of a tourist village in Kandone village, Thataeng district, Xekong province. The money will be used to construct a four kilometer road, to install electricity to 99 households, to build a water supply system, to build a traditional shop and guesthouse, to fund a guide training course for villagers, and to pay a weaver to teach the villages how to weave. Kandone was chosen for the construction of a tourist village because it is known for its weaving methods, handicrafts, and the culture of the Katou ethnic group.

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Laos: MOF To Tap Into Singapore Expertise In Public Finance Modernisation

The Singapore Cooperation Enterprise (SCE) and the World Bank recently signed a Memorandum of Understanding to provide technical assistance to the Lao Ministry of Finance (MOF).

The Singapore Cooperation Enterprise (SCE) and the World Bank recently signed a Memorandum of Understanding to provide technical assistance to the Lao Ministry of Finance (MOF). The MOU formalizes the partner collaboration on a Public Finance Modernisation and Governance Programme (PFMGP), with a grant amount of $752,000. The programme is part of an overall effort by the Lao government to strengthen its public financial management and aid effectiveness in the country.

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Laos: Minimum Wage Rises By 20%

The government has increased the minimum wage for workers by 20 percent, from 290,000 kip to 348,000 kip.

The government has increased the minimum wage for workers by 20 percent, from 290,000 kip to 348,000 kip. The wage increase, while lower than the 2008 proposal of the Lao Federation of Trade Unions to the National Assembly of 700,000 kip, is expected to mainly benefit workers in the garment industry, who mostly get a minimum wage. To help employers mitigate the rise in costs from the minimum wage increase, the government also reduced the rate of tax on the profit from 35 percent to 20 percent.

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Laos: South Korea Gives More Than US$4 million for Canals

South Korea will provide Laos with $4.9 million directed at the construction of two irrigation canals, vastly improving Laos' facilities for agricultural production.

South Korea will provide Laos with $4.9 million directed at the construction of two irrigation canals, vastly improving Laos' facilities for agricultural production. The project should reach completion by 2011, and is expected to help over 1,000 farmers in the region. This aid is a part of South Korea's efforts to help Laos become a developed country by 2020.

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Vietnamese Prime Minister to Attend Economic Conference in Laos

Vietnamese Prime Minister Nguyen Tan Dung is expected to attend the Greater Mekong Sub-region Summit (GMS) in Laos March 30-31.

Vietnamese Prime Minister Nguyen Tan Dung is expected to attend the Greater Mekong Sub-region Summit (GMS) in Laos March 30-31. The summit's theme, "Enhancement of Competitiveness via Greater Connectivity," will focus on boosting cooperation and transport between public and private sectors and to develop investment and trade in the Greater Mekong region. Aside from Vietnam and Laos, leaders from GMS members – Cambodia, Thailand, Myanmar and China will be in attendance.

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Vietnam Invests Nearly USD 600 Million in Laos

Since 1989 Vietnam has invested roughly USD 600 million in Laos according to the Lao Planning and Investment Ministry.

Since 1989 Vietnam has invested roughly USD 600 million in Laos according to the Lao Planning and Investment Ministry. The projects primarily focus on agriculture, industry, handicraft, garments, banking, energy, and hotel-restaurant businesses. The mining sector has accounted for 15 projects worth an estimated USD 33 million, while the agro-forestry industry has 25 projects worth USD 117 million. The energy sector has been the primary area of investment with two hydropower plants attracting nearly USD 270 million.

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Sweden Leaves Laos

Sweden has decided to close their embassy in Laos on Aug 15, 2008.

Sweden has decided to close their embassy in Laos on Aug 15, 2008. The Swedish Charge d'Affairs, AnnLis Aberg, cited the slow progress of political reforms as one one factor leading to the decision. Sweden is also closing embassies in Vietnam and the Philippines and the moves also reflect a larger movement towards focusing development in Africa instead of Asia.

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Laotian National Assembly Begins Session

The Laotian National Assembly began its session December 5, 2007 with a speech by President Thongsing Tahmmavong outlining plans for the session.

The Laotian National Assembly began its session December 5, 2007 with a speech by President Thongsing Tahmmavong outlining plans for the session. The session will consider the government report on public expenditures for fiscal year 2007-2008 and discuss the election of the President of the Central Audition Authority. In addition, 8 laws will be considered and adopted; these laws involve action on aquatics and wildlife, intellectual property, fire prevention, standardization, drugs, sports, trade unions, and forestry.

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