Laos, Thailand and Myanmar (Burma)
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The Tenth Congress of the Lao People's Revolutionary Party
Regime Renewal in Laos: The Tenth Congress of the Lao People’s Revolutionary Party Soulatha Sayalath and Simon Creak Introduction The year 2016 was a crucial one in Laos. According to an established five-yearly cycle, the year was punctuated by a series of key political events, foremost among them the Tenth Congress of the ruling Lao People’s Revolutionary Party (LPRP). As on past occasions, the Tenth Party Congress took stock of the country’s political and economic performance over the previous five years and adopted the country’s next five-year National Socio-Economic Development Plan. Most importantly, it also elected the new Party Central Committee (PCC), the party’s main decision-making body, together with the Politburo, PCC Secretariat and secretary-general. The congress was followed in March by elections for the National Assembly, which henceforth approved party nominations for the president and prime minister, who in turn appointed a new cabinet. Throughout this process, Laos occupied the chair of the Association of Southeast Asian Nations (ASEAN), just its second time in the role, and in September played host to US President Barack Obama, the first sitting president to visit the country, when he joined the East Asia Summit. While all these events were important, most consequential was the process of party renewal that culminated with the congress. Given the LPRP’s grip on political power and the control its leaders exercise over Laos’ rich reserves of natural resources—the main source of the country’s rapid economic growth since the early 2000s—LPRP congresses represent critical moments of leadership renewal and transition. -
Securities Commission Organization and Stock Exchange Development in Vietnam and Laos
Southeast Asian Journal of Economics 8(2), December 2020: 129-158 Received: 4 July 2019 Revised: 12 November 2019 Accepted: 27 January 2020 Securities Commission Organization and Stock Exchange Development in Vietnam and Laos Somvixay Chanthavong Graduate School of Asian and African Area Studies, Kyoto University, Kyoto, Japan Corresponding author: [email protected] Abstract This paper investigates stock exchange evolution in Vietnam and Laos through reviewing previous literature, synthesizing the capital market structure, and evaluating the capacity of the regulatory agencies, with an aim to provide a big picture of how the stock markets have developed. This study uses OLS and Tobit regression analysis to explain the associated indicators of stock exchange development in the selected countries. I find that the stock exchange in Vietnam has undergone dramatic development. However, inadequacy of securities law, low free-float of shares, and an undiversified investor base are reported as challenges. The stock exchange in Laos is still in its initial stages of development and is confronted with various challenges, including limited and undiversified products of listed companies, low liquidity, and a small in- vestor base. Keywords: Stock exchange, capital market, securities commission, Vietnam, Laos. 130 • Southeast Asian Journal of Economics 8(2), December 2020 1. Introduction The economic system in every country differs depending on local history and perceptions of national direction platforms, especially in socialist countries. These states, which have one party and call themselves socialist nations, can be different and have unique characteristics in terms of political, economic, and social management systems. There is no exception with the two existing socialist country members of the Association of Southeast Asian Nations (ASEAN), namely the Socialist Republic of Vietnam (hereafter Vietnam) and the Lao People’s Democratic Republic (hereafter Laos). -
Corporate Governance in Lao PDR
OECD INVESTMENT POLICY REVIEWS: LAO PDR © OECD 2017 Chapter 4 Corporate governance in Lao PDR This chapter provides an overview corporate governance framework in the Lao People’s Democratic Republic (Lao PDR). It addresses ongoing reforms to the ownership and governance of state-owned enterprises and challenges in expanding the capital market. OECD INVESTMENT POLICY REVIEWS: LAO PDR © OECD 2017 133 4. CORPORATE GOVERNANCE IN LAO PDR Summary Corporate governance concerns the structure framing the relationships among a company’s executive management, board of directors, shareholders, and stakeholders. From the perspective of modernising legal and regulatory frameworks for investment, effective corporate governance critically affects individual firm behaviour as well as broader macroeconomic activity. For emerging market economies, improving corporate governance can reinforce property rights, reduce transaction costs, and lower the cost of capital, which together can improve investor confidence. The Asian financial crisis in 1997 acted as a significant catalyst for improving corporate governance frameworks in Asia with the aim of building well-functioning and stable financial markets. While the Lao authorities have made progress in recent years in the area of corporate governance, the overall legal and regulatory corporate governance framework remains challenging, with scattered inconsistencies and at times limited awareness by market participants. This section evaluates the current and evolving institutional framework for corporate governance in Lao PDR, using as a benchmark the G20/OECD Principles of Corporate Governance and the OECD Guidelines on Corporate Governance of State-owned Enterprises (Box 4.1).1 Developing a corporate governance framework Since 1986, Lao PDR has undertaken important reforms in its transition to a market economy. -
Thematic Interpretation Plan Savannakhet Province Lao People's Democratic Republic
Thematic Interpretation Plan Savannakhet Province Lao People’s Democratic Republic GMS-Sustainable Tourism Development Project in Lao PDR Lao National Tourism Administration Prepared by: Linda Susan McIntosh, PhD Candidate Thematic Interpretation and Textile Specialist 33 Soi 1 Sukhumvit Road Klongtoey-nua, Wattana What is Thematic Interpretation? Thematic Interpretation is the practice of verbal and non-verbal communication, using illustrated and non-illustrated techniques to present complex subject matter in an interesting and engaging way. One model of Thematic Interpretation is TORE™ = Thematic, Organized, Relevant, and Enjoyable “Successful interpretation provokes people to think. Their thinking creates meanings in their own minds. Themes can stay with us, even when we forget the smaller facts that support them. Strong themes stick in our minds, some of them forever”. Themes, because they are whole ideas, are expressed in the same form as information already stored in our minds. So when we communicate a theme effectively we give visitors something they can readily relate, self-appropriate, and incorporate into their thinking. Themes are ideas not topics: Examples of Themes: An Example of a Topic: • Birds are a fascinating group of animals • Birds because of their special adaptations for flight. • Native birds everywhere are in a fight for their lives because of overdevelopment and Having a theme helps us prepare educational and promotional materials. It makes our job a lot easier because with a theme we able to understand what to include and not include in a presentation to visitors. 2 SAVANNAKHET HISTORIC TRAIL - Background The SAVANNAKHET HISTORIC TRAIL is a new tour circuit consisting of historic, cultural and natural attractions, situated along the East-West Corridor in Savannakhet Province, Lao PDR. -
Vientiane Times E News
VientianeThe First National English Language NewspaperTimes TUESDAY OCTOBER 9, 2018 ISSUE 236 www.vientianetimes.la 4500 kip PMs of Laos, Japan agree to UXO Laos, Vietnam clearance, medical cooperation Party officials Times Reporters promote relations Japan has agreed to support Times Reporters Mr Tran Quoc Vuong on the unexploded-ordnance related occasion of his the first visit projects in Laos at the cost Continuous enhancement of of since taking on the post of 900 million yen as well the tradition of friendship, of permanent member of the as facilitate cooperation special solidarity, and the CPVCC Secretariat. between Mittaphab hospital comprehensive cooperation The visit was a significant in Vientiane and Kitahara between the two Parties, contribution to the persistent Neurosurgical Institute of governments and peoples enhancement and deepening Japan. of Laos and Vietnam has the great friendship, These were among been reconfirmed as high special solidarity, and the cooperation agreements ranked officials from the two comprehensive cooperation signed yesterday in Tokyo countries met in Vientiane. between the two nations, and witnessed by the Prime Lao People’s Laos and Vietnam, Mr Minister Mr Thongloun Revolutionary Party Bounnhang said. Sisoulith and Japanese (LPRP) Secretary General He expressed his sadness counterpart Mr Shinzo Abe. and President of Laos, Mr on hearing of the passing of Prime Minister Thongloun Bounnhang Vorachit and both the former Secretary and delegation are attending fellow Politburo member General of CPV, Mr Do the 10th Mekong-Japan and Standing member of the Muoi, and serving President, Summit Meeting and an LPRP Central Committee, Mr Tran Dai Quang. associated forum on Mekong Lao Prime Minister Mr Thongloun Sisoulith (left) and Prime Minister of Japan Mr Shinzo Abe Mr Phankham Viphavanh President Bounnhang sub-regional investments in address news media in Tokyo yesterday. -
Bank of the Lao PDR Branches
Contents Governor’s Statement ..................................................................................................................................... 1 I. Economic Growth ............................................................................................................................... 6 1.1. Service Sector ............................................................................................................................. 6 1.2. Industry Sector ........................................................................................................................... 6 1.3. Agriculture Sector ...................................................................................................................... 6 1.4. Inflation ...................................................................................................................................... 6 II. Public Finances ................................................................................................................................... 7 2.1. Fiscal Performance ..................................................................................................................... 7 2.2. Revenue ...................................................................................................................................... 7 2.3. Expenditure ................................................................................................................................ 8 2.4. Financing ................................................................................................................................... -