Laos streamlines investment licence approvals

ASEAN+ August 28, 2018 01:00

By THE VIENTIANE TIMES
ASIA NEWS NETWORK
VIENTIANE

LAOS’ Central Investment One-Stop Service Office and Coordination Unit is moving ahead in its mission to facilitate investment and reduce the number of approval procedures required to obtain an investment licence in the country.



A decision announced by the Lao Central Investment Promotion and Supervision Committee will further the goal of enabling convenient, investments as approved by the government, aiming to ensure an efficient one-stop service mechanism.

This follows a decision a decision on the implementation of the Central Investment One-Stop Service Office and Coordination Unit No. 002/CIPSC, dated August 20, 2018, according to a post on the Lao Trade Portal website.

The central investment one-stop service office is located at the Ministry of Planning and Investment.

The work team in charge is composed of representatives from the ministries of Planning and Investment, Industry and Commerce, Finance, Natural Resources and Environment, Energy and Mines, Agriculture and Forestry, Labour and Social Welfare, Public Works and Transport, Public Security, as well as Information, Culture and Tourism.

In addition, the one stop service is the facilitator for investing in general and concession businesses, and the development of special economic zones in a simplified, quick, transparent and timely manner.

Each ministry and ministry-equivalent body has a duty to establish a coordination unit for the one-stop service under the supervision of the minister or deputy minister of the relevant ministry as part of the Investment Promotion and Supervision Committee.

Prime Minister Thongloun Sisoulith has appointed Deputy Prime Minister Sonexay Siphandone to lead a task force to improve trade policy and eliminate trade barriers.

The premier signed a document at the end of last month, giving legal backing for the deputy prime minister to chair the National Trade Facilitation Committee, which is mandated to improve trade policy and address trade barriers.

The Minister of Industry and Commerce has been appointed as deputy head and standing member of the committee. 

A number of senior government officials from various ministries have been appointed as committee members.

 

Most view