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first in the hostory of Lao kip

Cross-border payment service at Lao Bao border gate launched



Nhan Dan Online - The Bank for Agriculture and Rural Development of Vietnam’s Quang Tri branch and Laos’ Phongsavang Bank launched a cross-border payment service via the Lao Bao-Densavan border gates on March 3.

The launch of the service is expected to facilitate enterprises that involve in importing and exporting products across the Vietnam-Laos borders via the Lao Bao-Densavan border gates. From now, they can use either Lao kip or Vietnamese dong to trade for goods and do not need to use other hard foreign currencies as before.

In addition, enterprises can also use many other services supplied by the two banks.

Nguyen Van Hai

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