Improving ‘Ease of Doing Business’ indicators a key task in Laos

VIENTIANE (Vientiane Times/ANN) - Regulations are impacting Ease of Doing Business’ indicators which include protection for investors, improvement of institutional coordination and tax payment, are up for reform.

The methodology and reforms are designed to improve mechanisms for doing business in Laos.

“Laos is ranked 172nd in the IFC’s Doing Business ranking from 190 countries,” said Deputy Minister of Planning and Investment, Dr Khamlien Pholsena told the conference yesterday.

“The Ministry of Planning and Investment, as well as other related sectors, have to review and discuss the laws and regulations such as estate law. The draft of an amendment to the law is expected to be proposed at the National Assembly next year,” he added.

Regulations for the stock market are also expected to be finished in September this year and certified by its committee.

“Another problem area is tax payments, with Laos ranked 156. The conference allowed all participants to discuss possible reforms,” Dr Khamlien said.

This year, entrepreneurs had to highlight the difficulties of running a business in Laos and how it can be solved step by step.

The conference also discussed the convenience of tax payment such as through an online portal.

“Some problems of doing business will soon be solved such as investment permission and business registration. However, some problems, which related to the law, still need some time to be solved,” he noted.  

Lecturers from the World Bank shared their experiences on the methodology of reform in doing business.

After the lectures, all the participants discussed and exchanged their experiences in expanding and upgrading the work process in their sectors.

The Ministry of Planning and Investment organised the conference, supported by the World Bank among others.

Some 45 participants from the Ministry of Planning and Investment, Electricite Du Laos, Ministry of Energy and Mine, some international organisations and more participated in this conference.

While the reform of laws and regulations is significant, the most important is the implementation.

Coordination between each related sectors and increased responsibility from the business community will allow work to be finish in time and to a good standard, Dr Pholsena said.

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