The Lao kip has shown signs of stabilization in its exchange rate against the US dollar and Thai baht in recent months. These two foreign currencies remain the most widely used foreign currencies in the Lao PDR, playing a crucial role in trade and economic transactions. To strengthen the management and stability of foreign currency […]

Background The information provided below will help you understand the evolution of foreign exchange management by the Lao PDR government (the “GOL”) and the current situation. Prior to the year 2023, the GOL and its authorities took a relatively relaxed approach to managing foreign currency. Although the Law on Foreign Currency Management (dated 22 December […]

On 13 August 2024, the Ministry of Labor and Social Welfare (“MLSW”) issued Notice No. 2721/MLSW (“MLSW Notice”) to further detail its role as delegated by Article 2 (2.9) of Prime Minister Order No. 10/PM dated 14 July 2023 (“PM Order”) on Foreign Currency Management. Article 2 (2.9) states that the MLSW is responsible for […]