AustCham Lao Newsletter - May

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NEWSLETTER
 
A MESSAGE FROM THE EXECUTIVE DIRECTOR
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This month has been another busy month. There have been a number of high profile events this month, as well as cause for celebration.

AustCham Lao representatives attended the Lao launch of the report ‘Comprehensive Strategic Partners: ASEAN and Australia after the first 50 years’, which you can read about below.

AustCham, in partnership with P4I and Energy Lab, also organised the first Lao Renewable Energy Day. It was a great event, with representatives from the Australian and Lao Governments, the private sector and development partners in attendance.
AustCham also partnered with the European Chamber of Commerce and Industry in Laos, British Business Group Lao PDR, American-Lao Business Association, Canadian Chamber of Commerce in Laos, and the Japanese Chamber of Commerce and Industry in Laos to hold an InterCham Networking Night, sponsored by RMA Lao. The evening was a great success and well attended by representatives from all participating chambers and the Lao National Chamber of Commerce and Industry.

Finally, on a personal note, this month we celebrated the marriage of AustCham’s Finance and Administration Officer, Mr Kinoy Sopha. I was honoured to be able to attend the wedding and I hope you will join me in congratulating Kinoy. The AustCham team wish Kinoy and his wife Seevanh all the best in this new chapter of their lives together. 
 
UPCOMING EVENTS
 
ANZ ECONOMIC UPDATE
ANZ ECONOMIC UPDATE

date

Jun 12, 2024
(1:30 PM - 4:00 PM) (GMT+7)

location

Crowne Plaza Vientiane, an IHG Hotel
Vientiane, Vientiane Prefecture, ...
Speakers:
Mr. Khoon Goh
Head of Asia Research, ANZ
Mr. Phetsathaphone Keovongvichith
Director General of Foreign Exchange Management Department, Bank of Laos
Mr. Aekananh Keosouvath (Moderator)
Head of Coverage, ANZ Laos
MORE INFORMATION AND REGISTRATION
 
PAST EVENTS
InterCham Networking Event
InterCham Networking Event
Last week AustCham partnered with European Chamber of Commerce and Industry in Laos, British Business Group Lao PDR, American-Lao Business Association, Canadian Chamber of Commerce in Laos, and the Japanese Chamber of Commerce and Industry in Laos to hold an InterCham Networking Night, sponsored by RMA Lao.
The evening was a great success and well attended by representatives from all participating chambers and the Lao National Chamber of Commerce and Industry.
We would like to thank RMA Lao again for their generous support.
We look forward to welcoming you to more events in the future. Follow us on social media to stay updated with all our events.
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Renewable Energy Day
Renewable Energy Day
Over 140 participants from government, academia, the private sector, and civil society came together on Monday with a clear goal of delivering a fair clean energy transition that provides significant investment, job creation, and export opportunities for Laos.

The Laos-Australia Renewable Energy Day discussed technological and economic opportunities, heard from the private sector on new ideas, discussed ways to increase investment, and brought together diverse voices on the role of women and marginalised groups in the energy transition.
MEMBERS' NEWS
 
We are pleased to welcome our new Silver Sponsor Laothani
We are pleased to welcome our new Silver Sponsor Laothani
Laothani's mission is to enhance the customer's quality of living by providing high-quality products and top-notch services. With our commitment to customer satisfaction, convenience, and happiness, Laothani will continuously develop skilled manpower utilizing the newest technology, aiming to be the country's top-of-mind 360 service provider
 
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Bancassurance Partnership Launched by JDB and Prudential Life Assurance (Lao) Company Limited

[Vientiane, 26th April 2024] - Joint Development Bank (JDB) and Prudential Life Assurance (Lao) Company Limited are delighted to announce the launch of an exciting bancassurance partnership. The primary objective of this collaboration is to offer affordable and accessible life insurance solutions to individuals in Laos, ensuring a secure future for all.

With the shared vision of providing worry-free and financially secure lives for every individual in Laos, both companies consider this partnership a significant milestone. Joint Development Bank (JDB) and Prudential Life Assurance (Lao) Company Limited are thrilled about this alliance's positive impact on people in Laos.

Join us on this journey toward a worry-free and financially secure future!
 
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Secure Your Family's Future with Exclusive Promotion by JDB and Prudential Life Assurance

[Vientiane, April 26th 2024] - JDB and Prudential Life Assurance are excited to announce an exclusive promotion to help you secure your family's future. From May 1st to 31st, 2024, enjoy a 10% discount on the first year's insurance premium for PRULife Saver Plus plans. This offer is available exclusively at JDB head office and service units.

Visit any of the following locations to learn more:
  • JDB headquarters
  • Service Unit Sikhai
  • Service Unit Thongkhunkham
  • Service Unit Dongdok
  • Service Unit Donnoun
  • Service Unit Viewmall
  • Service Unit Chinaimo
  • Service Unit Luangprabang
Speak with a Prudential Financial consultant at these locations. Don't miss out on this limited-time promotion!

Note: Valid from May 1st to 31st, 2024. Offer applies to PRULife Saver Plus plans with annual payment mode. Discount is applicable to the first year's insurance premium for this campaign. Terms and conditions apply. 

Secure your family's future with JDB and Prudential Life Assurance today!
 
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A center of luxury and a leadership of privacy
Book RANGE ROVER SV get:
  • 5 years warranty or 150,000 kilometers
  • 5 years maintenance or 60,000 kilometers
  • 5 years roadside emergency service 24-hour
  •  And special branded goods from Lao Land Rover

For more information: 020 58 888 197 ​
Book for test drive: https://www.landroverlaos.com/t ​

Jaguar Land Rover Lao is the official importer and distributor of Jaguar and Land Rover automotive brands in Lao PDR. 
 
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THE RANGE ROVER PLUG-IN HYBRID EV OFFICIALLY LAUNCHED IN LAOS

Lao Land Rover is the official importer and distributor of Jaguar and Land Rover automotive brands in Lao PDR has officially unveiled the Range Rover Plug-In Hybrid (Electric and Petrol) on 9th May 2024 at PARKSON mall.

Experience a new level of peerless refinement and luxury on the new Range Rover Plug-In Hybrid with above-and-beyond capability to meet the demands of drivers looking for a high-performance drive, impressive intuitive technology, and zero tailpipe emissions in EV mode. It seamlessly blends Land Rover’s 3.0-litre six-cylinder Ingenium petrol engine with a powerful 105kw electric motor and 38kwh battery, producing a Maximum power of 460ps and torque of 660 Nm. The P460e Extended-Range Plug-in Hybrid Electric Vehicles (PHEVs) offer exceptional efficiency, producing CO2 emissions as low as 18g/km and providing up to 113km (70 miles) of EV range. It charges up to 80 percent in under an hour using rapid DC charging and is capable of 0-100km/h in just 6.0 seconds. Therefore, the Next-generation Cabin Air Purification Pro is an innovation that combines PM2.5 filtration and nanoeTMX technology significantly reduces odours, bacteria, and allergens, including the SARS-CoV-2 virus1, while CO2 Management enhances wellness and alertness by monitoring levels inside the cabin.

The New Range Rover Plug-In Hybrid EV is available to experience today at the Lao Land Rover Showroom
Address: Phonthan Village, Saysettha District, Vientiane Capital. For more information, call: 020 5888 8197.

Book a Test Drive via
 
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Reserve Range Rover Sport today with a starting price of only $189,000.
For more information, contact: 020 5888 8197
 
BUSINESS ENVIRONMENT
 
Lao PDR Economic Growth : Accelerating Reforms for Growth - Thematic Section : Education for Growth and Development (English)
Lao PDR Economic Growth : Accelerating Reforms for Growth - Thematic Section : Education for Growth and Development (English)
Economic growth remains below pre-COVID-19 levels, mainly owing to protracted macroeconomic instability. Economic growth is estimated at 3.7 percent for 2023, with positive contributions from the services sector (for example, tourism, transport, and logistics) and mining. Electricity generation, mostly from hydropower plants, was tempered by low rainfall. Meanwhile, foreign investment increased substantially, linked mainly to the electricity and mining sectors. In contrast, public spending and household consumption remained constrained by limited fiscal space and high inflation. Merchandise export growth was limited, affected by supply-side constraints (for example, labor shortages) and subdued external demand. Amid limited foreign exchange liquidity and high external debt service obligations, depreciation and inflationary pressures persist. In 2023, the annual average official kip/US dollar exchange rate weakened by 31 percent, while the average parallel rate depreciated by 27 percent.
Read More
 
COMPREHENSIVE STRATEGIC PARTNERS: ASEAN and Australia after the first 50 years 2024
COMPREHENSIVE STRATEGIC PARTNERS: ASEAN and Australia after the first 50 years 2024
This report explores Australia’s partnership with ASEAN through an up-to-date stocktake of the major activities that support economic, socio-cultural and political-security ties. It also analyses the appreciation of this work within the ASEAN Secretariat, and among other significant ASEAN and Australian stakeholders from government, business and civil society. The report has been co-produced with key ASEAN partners and draws on a wide range of Australian and ASEAN expertise. Through consultations, interviews, roundtables and events, the authors have sought to generate a deeper appreciation of the history of the dialogue partnership, while also looking to the political, economic and cultural issues over the horizon.
Read More
 
AUSTCHAM ANNUAL SPONSORS
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