Lao Amended Investment Law Shortens Concession Period

Amendments to the Investment Promotion Law has shortened investment concession periods to ensure closer scrutiny of investors’ operations, Lao state-run daily Vientiane Times reported on Monday.
A draft amendment to the law, which was passed by Lao National Assembly (NA) last week, shortens the investment concession period from 99 years to 50 years, a change that was widely welcomed by NA members during ….

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Unlawful Financial Institutions Warned of Legal Action

Illegal financial institutions that have sourced funds by offering abnormally high interest rates will face legal measures, the governor of the central bank has warned.
Governor of the Bank of the Lao PDR, Dr Somphao Phaysith, told the ongoing ordinary session of the National Assembly (NA) that 24 institutions have been found acquiring deposits illegally. He said the bank has issued a notice instructing these institutions to …..

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