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08 May '13According to the Law on Investment Promotion, a representative office may be established in the Lao PDR provided that it is approved by the Ministry of Planning and Investment. Such approval shall have a term of 1 year. It may be renewed for another 2 times, 1 year for each approval. In this regard, the total term of the representative office shall not exceed 3 years. After the term of the representative office has expired, the investors may establish a company in the Lao PDR in accordance with relevant laws and regulations depending on the type of business and investment.
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25 Dec '12Currently, the insurance business is not a competitive business in the Lao PDR as there are only 6 insurance companies operating within the Lao PDR, i.e. Assurances Generales du Laos, Champa, Lao-Viet Insurance Co., Mitsui Sumitomo: MSIG Insurance (Lao) Com, Ltd., PCT Asia (formerly Insee Insurance Co. Ltd.), and Toko Assurance Co. Ltd.According to the law on Investment Promotion No.02/NA, dated 8 July 2009, the insurance business is listed as a concession business. Therefore, any application in relation to an establishment of an insurance company or insurance broker must be submitted to Ministry of Planning and Investment (the “MPI”) for consideration.
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In November 2002, leaders of the Association of the South East Asian Nations (ASEAN) agreed on the proposed creation of an ASEAN Economic Community (AEC) by 2020. This was followed by the adoption of the AEC Blueprint in 2007 along with the affirmed and strong commitment by leaders to accelerate such economic integration by 2015.
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19 Jun '12The Ministry of Planning and Investment, Lao PDR, issued Notification no. 1263/Phor. Tor. dated 15 May 2012 suspending concession considerations related to mining, and forestry of eucalyptus and rubber trees (the “Notification”) to inform all Lao and foreign investors and all industries conducting such related businesses
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- +856-21 265 471