How To Register A Business: Laos Goes Online To Ease Start-Up Process
Source: Vientiane Times
The steps needed to register a new business have now been posted online to ease business start-up, which will save time and simplify the process.
The Department of Enterprise Registration and Management of the Ministry of Industry and Commerce on Monday launched the Inventory Business Licences (IBL) website, hosted on www.bned.moic.gov.la.
It is an online catalogue of all the licence regulations, certificates, and other types of government authorisation required by all licensing authorities. It contains all of the legislation, regulations, procedures, deadlines, costs, documents and a list of activities that must be applied for and completed in order to obtain a business permit.
The launch of the website was chaired by Deputy Minister of Industry and Commerce, Mrs Chansouk Sengphachanh; Vice Chairman of the Lao National Chamber of Commerce and Industry, Dr Xaybandith Rasphone; and a representative of the World Bank, Mrs Melise Jaud.
It is envisaged that the website will have long-lasting effects and provide a watershed opportunity to improve the business climate and the relationship between citizens and the government, generating greater trust and a better perception of the State’s services.
Speaking at the event, the World Bank Country Manager for Laos, Alex Kremer, said “Streamlining and simplifying the licensing system in Laos is an important reform to help the business community to grow and thrive. The website will also help the government to foster ease of doing business in the country.”
Website development is supported by the Laos Competitiveness and Trade project (LCTP) and implemented by the Ministry of Industry and Commerce, with technical and financial support from the World Bank and additional financial contributions from Australia, Ireland, and the United States.
The project aims to eliminate barriers to private sector-led growth by improving the regulatory environment, lowering trade costs, and raising firm-level competitiveness.