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A ceremony for the opening of the Maruhan Japan Bank Laos was held on 16th of February, 2013 at the bank's headquarters on 23 Singha Road in Vientiane and was attended by Lao government officials, diplomats from the Japanese Embassy and the chairman of the bank. Lao women (who are involved in everything in Laos) also took part in the opening ceremony to make the event colorful and traditional.




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Nice! They need to do something with those powerlines eh..

When you say do something, what do you mean, put it underground?

Overhead power lines are here to stay for the long haul, it's cheaper for a poor country like Laos.

I just think he meant it doesn't look safe.

In a country without checking system, it is better to put all lines, powerlines, telelines, traffic lines up in the air. Water pipes underground. Otherwise, all be messed up someday.

ba dac wrote on 20^th Feb, 2013 at 8:49am:

I just think he meant it doesn't look safe.

It shouldn't be a danger to the general public from up there.

Those are cable and telephone lines as well?  I am talking about the thinner ones.

I believe so.

Telephone lines are also laid overhead in Laos.

Current interest rates on CDs are relatively higher in Laos than here in the US.  Highly intertesting 8-).

Seems like a new bank opens in Laos every week.

How many banks do we need?

CDs?  Well, yes.  You can deposit Lao currency in a Lao bank and get 10%+ interest a year. This compares massively favorably with interest rates of <2% in most developed countries.

There is a business 'scheme' called the 'carry trade'. 

In this, you borrow money from, say, a US bank at 5% interest, invest it in a country's bank (like Iceland or Laos) which gives a much higher rate of return, and make a huge killing.

Only downside is you have to have some belief in the short-term viability of the currency.

Laosnow wrote on 22^nd Feb, 2013 at 12:08pm:

Seems like a new bank opens in Laos every week. How many banks do we need? CDs?  Well, yes.  You can deposit Lao currency in a Lao bank and get 10%+ interest a year. This compares massively favorably with interest rates of <2% in most developed countries. There is a business 'scheme' called the 'carry trade'.  In this, you borrow money from, say, a US bank at 5% interest, invest it in a country's bank (like Iceland or Laos) which gives a much higher rate of return, and make a huge killing. Only downside is you have to have some belief in the short-term viability of the currency.

Lao money can be exchanged freely?

You can exchange Lao kip for US dollars at moneychangers in Vientiane.

127 banks should be good enough.


Laosnow wrote on 22^nd Feb, 2013 at 12:08pm:

Seems like a new bank opens in Laos every week. How many banks do we need? CDs?  Well, yes.  You can deposit Lao currency in a Lao bank and get 10%+ interest a year. This compares massively favorably with interest rates of <2% in most developed countries. There is a business 'scheme' called the 'carry trade'.  In this, you borrow money from, say, a US bank at 5% interest, invest it in a country's bank (like Iceland or Laos) which gives a much higher rate of return, and make a huge killing. Only downside is you have to have some belief in the short-term viability of the currency.

You will lose money on the exchange rate, that's how they make money. Banks are in business to make money from your own money, that's why there are so many banks in this world.
For a country that is known for poverty, it's interesting that there are so many banks operating in the country. Someone mentioned that these banks hide the money from corruption by transferring it around between them until it gets lost, money laundering. The average salary of a person in Laos is about 1-300 dollars and the population is around 5 million and there are 127 banks, so you guys can do the math. Now if we take a look at the foreign aid amounts that the country receives and then do the math with that, then I think we might have a correlation. Who needs Swiss accounts when you can start your own bank and hide the money by yourself.

Buk Hoo Kee wrote on 3^rd Mar, 2013 at 10:36pm:

You will lose money on the exchange rate, that's how they make money. Banks are in business to make money from your own money, that's why there are so many banks in this world. For a country that is known for poverty, it's interesting that there are so many banks operating in the country. Someone mentioned that these banks hide the money from corruption by transferring it around between them until it gets lost, money laundering. The average salary of a person in Laos is about 1-300 dollars and the population is around 5 million and there are 127 banks, so you guys can do the math. Now if we take a look at the foreign aid amounts that the country receives and then do the math with that, then I think we might have a correlation. Who needs Swiss accounts when you can start your own bank and hide the money by yourself.

Very good point. Here in the state people that want to hide there money whether it tax purpose or any illegal activity. They do a off shore account with many of the small island. Ironic thing is that these island are very poor also. But they do have many bank. ::)  If that the case in Laos they should be ashame. Party for the people , eh ?

Foreign aids to Lao come in different forms. Cash one weights not too much. Money laundering with banks is naive one, maybe sophisticated one in developing country.

127 banks is not enough for competition considering outsiders runnig saliva. 127 has more branches?  then, 127 will be fine.

carry trade profiting depends one costs of borrowing and exchange rate and costs of transfering to home country. Even 7% gap wont make a profit.

I think Laotians are rich, one bottle of beer lao here costs 1.2 USD, today's exchange rate, buying rate. That puzzles me most.

Hmm..$1.20 per bottle - that is high and probably in a restaurant targeting 'foreigners'?

127 branches of course... How many bank companies are government owned anway?  Hopefully there will be more 'privately' owned company to allow better competition.

1.27$ my backyard store, incredible.




Beef Cake wrote on 4^th Mar, 2013 at 9:39pm:

Hmm..$1.20 per bottle - that is high and probably in a restaurant targeting 'foreigners'? 127 branches of course... How many bank companies are government owned anway?  Hopefully there will be more 'privately' owned company to allow better competition.

In Vientaine?


peterpan wrote on 4^th Mar, 2013 at 9:53pm:

1.27$ my backyard store, incredible. Beef Cake wrote on 4th Mar, 2013 at 9:39pm: Hmm..$1.20 per bottle - that is high and probably in a restaurant targeting 'foreigners'? 127 branches of course... How many bank companies are government owned anway?  Hopefully there will be more 'privately' owned company to allow better competition.

Jing Hong City, China, 30 Km to Lao


Beef Cake wrote on 5^th Mar, 2013 at 1:33am:

In Vientaine? peterpan wrote on 4th Mar, 2013 at 9:53pm: 1.27$ my backyard store, incredible. Beef Cake wrote on 4th Mar, 2013 at 9:39pm: Hmm..$1.20 per bottle - that is high and probably in a restaurant targeting 'foreigners'? 127 branches of course... How many bank companies are government owned anway?  Hopefully there will be more 'privately' owned company to allow better competition.

Perhaps it's an 'export' product in Chaina..that's why it's $1.27.