The Asian Development Bank (ADB) approved a $42.9 million financing package to improve cross-border livestock health, enhance value chains, and boost trade of livestock and livestock products, driving inclusive growth in the Lao People’s Democratic Republic (Lao PDR).
During the period 2017–2020, extended to 2023, ADB operations in the Lao People’s Democratic Republic (Lao PDR) focused on (i) improving physical connectivity to catalyze private sector investment in the economy to generate employment and income, (ii) developing skills that support growth in the non-resource sectors and improving access to health services to enhance labor productivity, and (iii) ensuring sustainable natural resource management and climate resilience. Gender equity and governance were crosscutting themes.
In 2020, ADB and the Japan Fund for Prosperous and Resilient Asia and the Pacific implemented the Technical Assistance "Mitigating Impact of COVID-19 through Community-Led Interventions" project in partnership with civil society organizations. Watch this video story to see the result of this collaboration across five countries with inspiring stories of success and sustainability from innovative hygiene solutions to social protection programs.
The Lotus Wind Power Project deployed by the Asian Development Bank in Viet Nam. Photo by ADB.
Agreements for feasibility studies for (i) a planned wind farm and (ii) a 500 kV substation for electricity transmission in Savannakhet, Lao People’s Democratic Republic (Lao PDR), was signed by representatives from Lao PDR Ministry of Planning and Investment, NASENG-WAYO Renewable Resource Development and Investment (a Lao PDR firm), and UPC Renewable Energy. UPC Renewable Energy and NASENG-WAYO Renewable Resource Development and Investment will cooperate on the feasibility study.
Cambodia recorded 4.4 million international tourist arrivals in the first 10 months of 2023, a 180% increase over the same period in 2022. Tourism Minister Sok Soken remarked that based on this figure, Cambodia is expected to receive approximately 5.4 million foreign visitors in 2023.
ASEAN member countries agreed to fast track the implementation of cross-border payments in ASEAN at the 43rd ASEAN Summit in Jakarta, Indonesia. This paves the way for ASEAN member countries to utilize local currencies when transacting in the region and promote regional payment connectivity. This move encourages the use of local currencies to support cross-border trade and investment in the ASEAN region.
The ASEAN Federation of Forwarders Associations (AFFA) met on 2 December 2023 in Phnom Penh, Cambodia, for their 33rd annual meeting, and discussed facilitation of goods transportation via inter-governmental cooperation in the region.
ASEAN countries have emphasized the development of logistics services, infrastructure, and trade facilitation measures, and promoting intra-bloc connectivity.
Lao PDR Prime Minister Sonexay Siphandone, in his meeting with the Chairman of the Guangxi Zhuang Autonomous Region (GZAR), People's Republic of China (PRC), Mr. Lan Tianli, expressed hopes of enhancing their relationship further.
The Laos-China Railway Co., Ltd. (LCRC) continues to increase its capacity with the procurement of a new electric multiple unit (EMU) train in September. The added EMU will accommodate the growing number of train passengers and support Visit Laos Year 2024.
Photo via Vientiane Times
Lao People’s Democratic Republic Prime Minister Sonexay Siphandone urged for intensive action to bolster the country’s digital pillars. Developing the country’s digital economy, digital government, and digital community will help bolster Lao PDR’s socio-economic development.
Greater Mekong Subregion Secretariat
Regional Cooperation and Operations Coordination Division,
Southeast Asia Department, Asian Development Bank
Address: 6 ADB Avenue, Mandaluyong City 1550, Metro Manila, Philippines
Telephone: +63 2 8632 4444 Fax: +63 2 8636 2226