Economy of Laos Daily, Lao Development News and other media reported that,On June 16, 2023, the Golden Kapok Group of the Golden Triangle Special Economic Zone in Laos issued a notice on the use of Kip. The specific requirements are as follows:

Firstly, the cost of goods and services in the Golden Triangle Special Economic Zone should be clearly priced, and the exchange rate should be determined based on the exchange rate published by the Central Bank of Laos; Second, every store must have stickers written in Chinese and Lao languageThe slogan of "promoting the use of Kip consumption"; Thirdly, any enterprise or individual who refuses to accept Kip during the payment process will be suspended from business and fined once discovered by relevant department staff during inspection; Fourthly, this notice shall take effect from the date of signature and seal.

The Golden Triangle Special Economic Zone in Laos is located inBokeo provinceNational level special economic zones establishedYesBy the Lao government andchinese enterprises Established in collaboration with Jinmu Cotton GroupofThe total development area is100 square kilometers, including the coreDevelopment Zone30 square kilometers and 70 square kilometers of natural forest reserves,The development contract has a term of up toIn 1999,toDeveloped in 2022Yes15 years,Developed area approximatelyby10 square kilometers,Total building areaaboutby2.5 million square meters.

The development of this special economic zone is mainly reflected in three major areas: infrastructure construction, tourism development, and modern agriculture.

In terms of infrastructure construction, Jin Mumian Group has invested in the construction of highways, international port passenger terminals, Mumian Island passenger terminals, international freight terminals, etc. in the region, among which the international freight terminal hasA berth for a 500 ton cargo ship, used by approximately 150000 people annually. In addition, Bojiao Airport, invested and constructed by the Great Bay Area Investment Development Co., Ltd., will complete the test flight of passenger aircraft in December 2021, and it is expected to complete the construction of the main terminal and open International flight in 2023. In addition, the Three Kingdoms Bridge project across the Mekong River in the region has expressed its intention to the governments of Laos and Thailand. Facilities related to water, electricity, environmental protection, and other basic living conditions for the people are also gradually being planned and improved.

In terms of tourism development, the special economic zone has established"Mumian Island", "Three Kingdoms at a glance", "Sthavira nikāya Buddhist Temple", "Suwangkong Site" and other tourist attractions. Especially the Kapok Island, which is famous for its nearly 2000 tall kapok trees, has now completed the construction of the "Golden Triangle Window" as a leisure scenic area. The scenic area includes a leisure square, a display area for folk customs from various countries, a history and art exhibition hall, and anti drug educationExperience Halletc.The daily tourist volume reaches up to 2000 people. Since 2001, the local government has held the "Kapok Culture Festival" every year from late January to early February, attracting many foreign tourists to visit.

In modern agriculture, as ofIn 2022, the landscaping department of the Golden Triangle Special Economic Zone in Laos had nearly 200 employees from multiple countries including Laos, China, and Myanmar. A total of 127000 square meters of greening projects have been carried out inside and outside the special zone, with over 110 plant species and a total of 120000 plants. Build more than 1000 acres of cultivation base, with a reserve of about 320 plant species and a total reserve of over 300000 plants.

According to statistics, as ofIn 2021, there were approximately 500 enterprises in the Golden Triangle Special Economic Zone of Laos, and most of the investors in the region came from China. Their main investment directions were real estate, hotels, catering, wholesale and retailLogistics transportationAgricultural planting, etc.

On this basis, the currency in circulation in the Laos Golden Triangle Special Economic Zone is mainly RMB.

On June 15th, the Deputy Prime Minister and Minister of Public Security of Laos delivered a speech to relevant leaders of the Golden Triangle Special Economic Zone and issued important instructions to accelerate the implementation of the Foreign Exchange Management Law of the Golden Triangle Special Economic Zone, switch to Lao Kip for trading, exchange, and payment services, use Lao Kip in line with the direction of Laos, and encourage Kip appreciation.

It is reported that after the outbreak of the epidemic, the kip in Laos has depreciated significantly, and the Lao government has introduced multiple policies to promote an increase in the kip exchange rate. This time, Laos has issued a notice to promote the use of kip in the Golden Triangle Special Economic Zone, which is an important measure to promote the appreciation of kip.