On August 16, 2024, in Vientiane, the Lao PDR, the Workshop themed “Local Currency Promotion between Lao PDR and Vietnam” was held within the framework of the Program of professional, cultural and sports exchanges between the State Bank of Vietnam (SBV) and the Bank of the Lao PDR (BOL).
Participants at the Workshop on Local Currency Promotion between Lao PDR and Vietnam
At the Workshop, representatives from the SBV International Cooperation Department and the BOL Foreign Exchange Management Department shared about the demands of using the local currencies of the enterprises of the two countries in the context of the steadily increasing trade and investment activities between the two countries. The two sides also presented about ongoing activities to promote the use of the local currencies in the bilateral trade and investment activities, including the reviews and considerations of amendments of the legal frameworks as well as the infrastructure development in support of the payment operations between the two countries.
Participants at the Workshop
Also at the Workshop, representatives from the National Payment Corporation of Vietnam (NAPAS) and the Lao National Payment Network, Co. (LAPNet) shared about their new payment services, bringing about safe utilities and reducing the costs for the people of the two countries. Those are the results of a pilot project on cross-border QR payment between Vietnam and the Lao PDR, which had been implemented by the two central banks, NAPAS, LAPNet and a number of commercial banks of the two countries.
Le Hang