Arya News - The bond issuance by local e-hailing company LOCA also supports the Laotian government’s national EV policy, which targets EVs accounting for 30 percent of vehicles in Laos by 2030.
VIENTIANE – LOCA, a leading homegrown ride-hailing and electric mobility platform, and the Lao Securities Exchange (LSX) have signed an agreement for the listing of LOCA’s green bond, marking a step towards expanding sustainable financing and supporting green investment in Laos.
The signing ceremony was held at the Lao Securities Exchange in Vientiane on Friday. The documents were signed by Chief Executive Officer of LOCA Company Limited, Mr Souliyo Vongdala, and Chief Executive Officer of the Lao Securities Exchange, Mr Siosavath Thirakul.
The ceremony was witnessed by Deputy Governor of the Bank of the Lao PDR (BOL), Mr Soulysak Thamnuvong, Secretary General of the Lao Securities Commission Office (LSCO), Mrs Phengsy Phengmeuang, and officials from LSCO, LSX and LOCA.
The listing follows LOCA’s successful issuance of its green bond on July 29, which the company described as the first green bond issued in Laos. The proceeds will be used to expand LOCA’s electric vehicle (EV) charging network nationwide.
LOCA currently operates 84 charging stations, making it the largest EV charging network in Laos and the only one covering all 18 provinces. Its fast-charging facilities offer 120-240 kW, enabling vehicles to be fully charged in about 20-30 minutes.
With EV adoption increasing, LOCA plans to expand its charging network in Vientiane Capital and other major cities, while improving coverage along the country’s highways. It aims to provide a fast-charging station every 50 kilometres or less.
LOCA has promoted electric mobility in Laos for the past four years and pledged to make its ride-hailing fleet fully electric by 2030. About 95 percent of its fleet is already electric.
The company said the transition to EVs could reduce dependence on imported fuel, retain foreign currency in the country and support climate commitments.
The bond issuance also supports the government’s national EV policy, which targets EVs accounting for 30 percent of vehicles in Laos by 2030, backed by approximately 1,000-1,500 charging stations nationwide.
With around 96 percent of Laos’ electricity generated from hydropower, greater EV use could help replace imported fossil fuels with domestically generated electricity.
The green bond was subscribed by LOCA’s existing and new private investors, as well as the Private Infrastructure Development Group (PIDG).
Head of Asset Management – InfraCo at PIDG, Connor Dawson, said “Our engagement with LOCA till date has instilled confidence in their ability to deliver and we are very appreciative of the work ethic, strategic approach and ‘can do’ attitude that the LOCA founders and team bring to this company.
Supporting them in the next step of their growth through an investment in Laos’ first green bond directly supports our mandate to catalyse private sector participation and market development in ventures and technology that address climate action and inclusion.”
The Asian Development Bank (ADB) provided technical support in developing the LOCA Green Bond Framework, aligning it with the ASEAN Taxonomy and coordinating an independent Second Party Opinion issued by DNV.
LDBS, BCEL-KT and Lao-China Securities Company Limited supported the structuring and issuance, while LSCO and LSX supported its introduction to the domestic securities market.
LOCA CEO Mr Souliyo Vongdala said the issuance demonstrated that green finance could mobilise domestic capital for projects with environmental and economic benefits.
“This bond is proof that green finance works in Laos. The capital we raised at home will go straight into charging infrastructure that every EV driver in the country can use — creating real impact for our nation: less dependency on imported fuel, foreign currency kept at home, and concrete progress on our climate commitments. We hope it is the first of many green issuances in our market.”
The capital we raised at home will go straight into charging infrastructure that every EV driver in the country can use,” he said, adding that LOCA hoped the issuance would be the first of many green bond offerings in the Lao market.
LOCA Co-CEO and CFO Phonepasong Mixab, said “Bringing the first green bond in the Lao PDR to market meant building the road as we travelled it — a framework aligned with international standards, an independent second-party opinion, and investors willing to lead the way. We are deeply grateful to PIDG, ADB, our securities partners, and the regulators for their trust and hard work.
This transaction sets a benchmark for what Lao companies can achieve in our own capital market, and we hope it gives other issuers the confidence to follow.”
The listing contributes to efforts to diversify financial products available to investors and strengthen the role of Laos’ capital market in mobilising funds for sustainable economic development.
For LOCA, the listing provides an opportunity to engage further with the domestic capital market while financing the expansion of electric mobility infrastructure.
For LSX, it represents another step in developing sustainable financial products and encouraging private sector participation in green investment.