Vietnam and Laos promote payments in local currencies to boost trade

Manola Meuangmani, Director General of the Foreign Exchange Management Department under the Bank of the Lao PDR, speaks at the conference -- Photo: Vietnam News/ANN

VIENTIANE (Vietnam News/ANN): A conference was held in Vientiane on Saturday to promote the use of the Lao kip (LAK) and the Vietnam dong (VND) in payments for goods and services between the two countries.

Speaking at the event, Manola Meuangmani, Director General of the Foreign Exchange Management Department under the Bank of the Lao PDR, said reducing reliance on foreign currencies is crucial for monetary stability.