Bankruptcy

The Ninth Ordinary Session of the Lao National Assembly’s Seventh Legislature and the Premier Ordinary Session of the Lao National Assembly’s Eighth Legislature (the “Conference”) was successfully held from July 1st – 22nd 2015 and from May 20th -22nd 2016, respectively.

After the fifth Ordinary Session of Lao National Assembly concluded successfully on 16 July 2013, three new draft laws had been approved: 1) The Law on Science and Technology; 2) The Law on Social Security; and 3) The Law on Lao Women’s Union. Apart from this, the Lao National Assembly also approved amendments of another two laws: The Law on Tourism and the Law on Food.

As computers and technology play an important role in our daily life, many transactions are not only played out within the confines of each individual country but across borders throughout the international community. The Lao PDR has realized this, and therefore has adopted the Law on Electronic Transactions (the “E-Transactions Law”) promulgated on 17 January 2013 through the National Assembly.

Importing liquor products for distribution in the Lao PDR is allowed only through an entity established legally under the laws of the Lao PDR. As liquor products fall under the category of “Food” under Law on Food No. 04/NA, dated 15 May 2004 (“Law on Food”), approval for importing liquor products shall be granted by the Department of Food and Drug, Ministry of Public Health. The Law on Food requires that all imported products must be safe for consumer health. The quality and standard of the container, packaging and labor must also be certified by the Management and Food Inspection Organization.