Dear Members & Friends,
Business Advocacy The unexpected changes in the conditions of our neighbouring countries is greatly increasing imported cases in Laos and denting the local economic recovery. We’re now bearing witness to some of the highest margins of difference between official USD/LAK rates and those of the parallel market. This hurts our members and it was in AustCham’s spirit of advocacy that I partnered with the LNCCI and represented the private sector in a position paper and address to His Excellency, Prime Minister Phankham Viphavanh, at the Lao Business Forum on the 28th of July. You can watch the video here.
For businesses across any number of industries, foreign currency access and predictability is critical. Banks in Laos are increasingly unable to fulfil foreign currency orders, and this makes hedging products such as FX forwards, options or swaps prohibitive in the Lao market, leaving no avenue for businesses to hedge exposure. I shared that “the parallel market for foreign currency deprives the Lao PDR economy of its monetary policy sovereignty… The concern from a foreign investment and business competitiveness perspective is that the low quality, low integrity companies that do not abide by laws are rewarded, while high quality companies are penalised”. The Bank of Laos has responded sharing their 5 year strategy in a full day session hosted co-hosted by the Governor and the PM himself with an agenda to improve their capabilities and capacity, with stronger enforcement of Laws, Regulations and Responsible Conduct a clear priority.
Advocacy for Australians in Laos AustCham has also heard concerns from Australians on proposed changes to Tax Laws for expatriates; changes to Biosecurity Laws, including the recent repeal of automatic exemptions for expatriate returns to their country of residence; and reductions to the quotas for international arrivals in Australia. AustCham Laos will continue to disseminate information as it comes available and work to advocate for the rights of Australians abroad.
Support for local services sector members For all the challenges, we are still very lucky to be in Laos and I’m very thankful for the access to vaccinations, as well as the quarantine-free domestic travel enabled by vaccine green cards. My family and I had great long weekends in Vang Vieng including pony camp, kayaking and cycling during our stay with AustCham member Silver Naga, as well as living the life of a foodie during our Vientiane staycation at AustCham gold sponsor, Crowne Plaza. We also relived memories of my old post in Hong Kong through Sunday Yum Cha at Yue Yuan Chinese Restaurant by AustCham member, Landmark. All are highly recommended by the Renzis and great ways to support our local business community. Lastly, as always, we need your support for AustCham Laos so please join us or renew your membership today. I hope you like the newsletter.
Carli AustCham President / ANZ Laos Country Head |
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| PAST MATE TO MATE INTERVIEWS |
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Watch last month's episodes of MATE to MATE, AustCham's topical interview series on our members' Covid-19 emergency response. |
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Mate to Mate with Paul Simcock, Hear from Paul Simcock, Company Manager at Vientiane Geomatic Services how his company responded to the Covid-19 emergency in Laos.
Click on to read more or to play the interview! |
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We launched a new Mate to Mate series that investigates strategies for developing a diverse and inclusive workplace. |
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Mate to Mate - A Diverse Workplace. Scott Morgan shared with us Linfox’s inclusion and diversity strategies.
Click on to read more or to play the interview! |
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Mate to Mate ‘A Diverse Workplace’ with Cara McCartney, HR Manager at Burapha Agroforestry.
Hear from Cara which strategies Burapha is putting in place to promote a diverse and more inclusive workplace.
Click on to read more or to play the interview! |
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On Friday 16 July, AustCham Lao hosted an event on Trend & Opportunities in Laos: New Horizons for the Healthcare System.
It was great to hear from Prof. Mayfong Mayxay from the Ministry of Health about the many projects the GOL has underway to improve the healthcare system. In particular, it was interesting to understand plans for the Covid-19 vaccine rollout.
Georges Phouangkeo from Viengthongpharma Vtp gave a very interesting overview of the structure of the healthcare system in Laos which covered the facilities available and the challenges the Pharmaceutical industry is facing.
Bouphamany Chounramany shared the future plans for Alliance International Medical Centre, including their development of Telemedicine as a tool during Covid times.
Last but not least Mr. Pumipat Chatnoraset presented the new Kasemrad BK Hospital, due to open in Q3 2021, bringing to Laos more international standard medical facilities, including qualified doctors from Thailand, and modern medical equipment.
Click on to read more or to play the recording! |
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| Friday 30th July saw AustCham, in collaboration with Katalyst Partners, host a Training session on Presentation Skills.
The training improved participants' presentation skills and focused on how to present with confidence (even when you don't really feel confident). The main areas covered by Tony Campbell, Katalyst CTO were: - How to come across as confident
- The Dos and Don'ts of presenting
- Drafting an effective PowerPoint presentation
- How to moderate a session
- Opening and closing a presentation well
It was a really interactive session where all participants practiced their presentation skills and tested their confidence levels!
For more pictures click on read more. |
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| LINFOX LAOS FULLY SUPPORTS THE COVID VACCINATION PROCESS |
| The Linfox International Group fully supports all employees who choose to receive a COVID vaccination.
Linfox Laos Staff are able to attend the various clinics within Laos to be vaccinated during working hours and transport is also arranged.
The Laos team has been very receptive to the vaccination program and to date, 73% of their staff have been vaccinated.
Linfox is confident that their COVID Safety Plan and the high uptake of the vaccination by its team will help team to navigate the COVID pandemic safely. |
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AUGUST 2021: AustCham President and Gold Sponsor, ANZ’s Country Head, Carli Renzi, was featured in the International Financial Review (IFR) magazine this month covering athletes transitioning to business.
In her usual charming style, Carli quips in the article that “it is sometimes useful for other people to be aware that you can break their arm if they don’t do what you want”. She also talked about her experience representing the private sector and AustCham: “While I was presenting to the Prime Minister of Laos at the Lao Business Forum recently, it dawned on me that it was almost nine years to the day that I was representing Australia at the Olympics”.
While much has changed since Carli competed at the London Olympics in Judo -living and working in three different countries and having three children in the process – Carli’s passion for excellence ensues: “There are many people with banking experience and strong grades. There are far fewer Olympians out there and obviously there’s a quality that comes with being an Olympic athlete in terms of motivation and resilience”.
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| Crowne Plaza Vientiane's journey to a minimal waste hospitality industry continued with its latest effort to replace all of its engineering uniforms with recycled shirts made from 100% plastic bottles.
Our team has been hard at work finding ways to reduce its operational impact on the environment. This is one of the many initiatives launched this year together with plastic bottle replacement by reusable glass bottles in meeting rooms plus eco-friendly packaging in restaurants and bars.
We are excited to launch many more great initiatives in the near future under their IHG Journey To Tomorrow project. Stay tuned for their social media handles for more updates.
Click on Read More to learn more about their initiatives |
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Prudential Life Assurance (Lao) Company Limited (“Prudential Laos”) and the UK Foreign, Commonwealth, and Development Office (“FCDO”) signed an agreement to financially support the UK government’s Chevening Scholarships Programme this year (2021/2022). This program offers opportunities for Lao students aspiring to become future leaders to study in the UK and develop their academic path and professional career.
The agreement was signed by Veejay Madhavan, Chief Executive Officer of Prudential Laos, and H.E. John Pearson, British Ambassador to Laos.
The Prudential Chevening Scholarship for 2021 was awarded to Ms. Sommay Heuankeomany, who will pursue her Master’s Degree in Money, Banking, and Central Banking at the University of Buckingham. Her dream is to establish a high-quality research center for monetary policy and financial markets. Sommay aims to be a full-time professor at the Banking Institute which is under the Bank of Laos. The Banking Institute offers tertiary education in business, finance, and banking. |
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| Our Bronze Sponsor, the International School of Laos is open for enrolment into the academic year 2021-2022. Check out details below:
Enrolment is ongoing for the academic year 2021-2022, from toddlers to high school students. Our school welcomes the admission of all qualified Lao national and expatriate children.
The International School of Laos is a certified Cambridge recognized school. We offer a primary and secondary Cambridge curriculum, IGCSE format of learning to support quality education, with qualified teachers and modern facilities.
The school is open Monday to Friday from 9:00-16:00. For more information, please don't hesitate to call 021-261614/5, WhatsApp 02029939941, or email them at info@isl.edu.la.
To watch the video, click on Read More |
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| BUSINESS ENVIRONMENT & INFO |
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Vientiane, July 28, 2021. The annual 13th Lao Business Forum took place in Vientiane to review progress of public private dialogue aimed at improving the business environment in Laos. The event attracted more than 400 participants, representing domestic and foreign businesses, public sector agencies, as well as the international diplomatic community and development partners.
In his opening remarks, H.E. Mr. Phankham Viphavanh, Prime Minister stressed the importance of promoting economic diversification to promote economic resilience amid the impact of ongoing COVID 19 pandemic as well as long-term sustainable and inclusive growth of Lao economy. The Prime Minister also outlined key government policies and strategies for promoting private investment in the non-resource sectors, including general manufacturing, tourism, and agro-based industry.
The half day event reviewed progress of the dialogue process since the 12th LBF. This review demonstrated broad support for structured dialogue via the Lao Business Forum to identify and resolve key issues affecting Lao's private sector.
Private sector speakers, including our President, Carli Renzi raised the issue of the parallel exchange market and foreign exchange regulation. They also complimented the Government on its concerted efforts to implement effective COVID-19 related containment and mitigation measures. Praise was expressed for the implementation of immediate measures to protect vulnerable workers and firms from the worst effects of the sudden drop-in economic activity. Measures including tax exemptions and deferrals, provision of loans at low rates, unemployment benefits through social security system, and others are widely seen as very helpful. [...] |
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Do you have electronics that you don't really use and are taking up space? You know, the things that kind of work but are out of date but you haven't the heart to get rid of them just yet? Here's a chance for you to give those electronics a new and useful life.
At the Makerbox Lao we are always looking for gadgets and things that can be used for experimenting and exploring by people who have an interest in finding out how things are put together and work. Telephones, televisions, radios (yes even those old battery operated ones) computers, and similar items can be a great source of fun and knowledge acquisition.
We also know that such items are a real problem all around the globe - the e-waste issue that every country faces - at Makerbox we are working together with Zero Waste Lao to make sure that all the things that are brought to us, once they have served their purpose, are disposed of in an environmentally friendly manner (so you can feel confident that you've contributed to the effort of reducing the local e-waste problem).
So why not make that decision and come to us with that speaker system, turntable, video camera, old mobile phone, leftover electrical wires, dead batteries or VCR player that are cluttering up your space and collecting dust, and be satisfied that it will be put to good use and then disposed off in the right way?
This 13 - 15 August, between 8am and 6pm, at Makerbox.
Click on to read more or to see their location |
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| Escape the hustle and bustle at Souphattra Hotel Luang Prabang, with the relaxing staycation you truly deserve.
Special offer: pay 2 nights, stay 3 nights! |
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