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Thai tourists visiting Laos can now conveniently scan QR codes to pay for goods and services, thanks to a new cross-border payment system recently launched between the two countries.

The service, announced on 5 July, is available specifically to users of the Thai Bank of Ayudhya, also known as Krungsri, making it the first Thai commercial bank to offer this convenience through its KMA Krungsri app.

In Laos, this payment service is accessible through 17 participating banks, including Banque Pour Le Commerce Exterieur Lao Public (BCEL), Agricultural Promotion Bank (APB), Joint Development Bank (JDB), Lao Development Bank (LDB), Lao Viet Bank (LVB), ST Bank (STB), and Allied Bank (ABL), among others, as stated by the Lao National Payment Network.

While, currently, only one Thai bank with cross-border QR payment is available in Laos, the Bank of Thailand has announced plans to add three more banks, including Kasikorn Bank (KBank), Bangkok Bank (BBL), and Krungthai Bank (KTB), in the fourth quarter of this year.

The service is part of an agreement signed earlier this year between the two nations, aimed at enhancing accessibility and innovation in financial services. In early April, the agreement allowed Lao tourists visiting Thailand and workers to make QR payments in Thailand through participating banks.

The Bank of Thailand has noted positive feedback for this QR code payment service, with transactions by Lao nationals totaling more than THB 47 million (over USD 1.2 million) in April alone.

The QR code cross-border payment system is part of Laos’ strategy to enhance regional money transfers and payments with neighboring nations such as Thailand, Vietnam, and Cambodia.

Laos has also established a similar payment network with Cambodia, launched in August 2023. Looking ahead, the country plans to introduce another comparable service with Vietnam in August to boost tourism and enhance economic exchanges between the two countries.

Source: https://laotiantimes.com/2024/07/08/thai-tourists-go-cashless-in-laos-with-new-qr-payments/

A new international train service between Bangkok and Vientiane, Laos, will begin on 19 July, according to the State Railway of Thailand (SRT).

The train will depart from Bangkok Central Station at 9:25 pm on 19 July and arrive at Vientiane’s Khamsavath Station at 9:05 am the next day. This new service marks the extension of the existing Bangkok-Nong Khai route, facilitating a more direct and convenient travel option between the two capitals.

The travel time from Bangkok to Nong Khai is approximately 10 hours, followed by an additional 20 minutes from Nong Khai to Vientiane. Ticket prices for a one-way trip from Bangkok to Vientiane are expected to start at around THB 300 (LAK 180,365, or USD 8.19) for a third-class fan seat.

Upon arrival in Vientiane, travelers can use public transport options as well as van and taxi services to reach downtown Vientiane, located approximately 8 kilometers away.

The introduction of this service is the result of close collaboration between the SRT and Lao National Railways, aiming to promote tourism and enhance logistics between the two countries. Prior to the launch, a successful trial service was conducted between 18 to 20 May, connecting Thailand’s Udon Thani and Nong Khai stations, and Laos’ Thanalaeng and Vientiane stations.

The Lao-Thai Railway Project started construction in 2013 and was originally slated for completion by the end of 2021. However, delays in the Khamsavath Station project extended its completion to 2023.

Source: https://laotiantimes.com/2024/07/04/new-train-service-from-bangkok-to-vientiane-starts-19-july/

The National Assembly (NA) of Laos has officially adopted 13 laws aimed at enhancing the country’s socio-economic growth. This decision followed extensive debates among NA members regarding the effective implementation of these legislations.

The approval encompasses two new laws and revisions to 11 existing laws. The newly introduced legislations include the Cooperative Law and the Law on Medicinal Resources.

The new Cooperative Law aims to empower farmers by improving their access to international markets, thereby supporting agricultural growth. Meanwhile, the Law on Medicinal Resources addresses several issues including the unregulated collection and distribution of medicinal materials. It also aims to integrate traditional medicine into the national health system for sustainable practices.

Other revised laws are the Anti-Corruption Law, Environmental Protection Law, National Assembly Law, Provincial People’s Councils Law, Election Law for National Assembly and Provincial Council Members, HIV/AIDS Prevention Law, Value-Added Tax Law, Fire Prevention Law, Investment Promotion Law, Tourism Law, and Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) Law.

Vice President of the NA and Chairman of the Lao Law Committee, Chaleun Yiapaoher, announced this on 1 July.

The Law Commission will further collaborate with relevant bodies to refine and finalize the new regulations. Once this process is complete, the Standing Committee of the NA will review the amendments before recommending them for official promulgation by the President.

According to Chaleun, these laws are designed to strengthen state, economic, and social management, and establish a comprehensive system that protects the rights of all citizens and legal entities in Laos.

To ensure effective implementation, Chaleun urged all sectors, including government ministries, officials, state employees, private enterprises, and the public, to familiarize themselves with these laws. He stressed the importance of active participation from all sectors to achieve tangible results and foster a culture of compliance across Laos.

Source: https://laotiantimes.com/2024/07/02/laos-adopts-new-laws-to-boost-socio-economic-growth/

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