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PM Urges Strengthening Business Sector Through Law Improvement

Source: KPL

While giving a guidance talk at the 11th Lao Business Forum on Jul 5, Prime Minister Thongloun Sisoulith emphasized the importance of strengthening the business sector through the improvement of business-related laws and regulations adding that doing so could help achieve the national socio-economic development goals.

He urged the relevant sectors to use the forum as a platform for determining and addressing effectively issues related to business establishment and expansion.

The 11th Lao Business Forum was held on Jul 5 in Vientiane to promote public-private partnership.

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The discussion at the meeting was focused on issues related to business taxes including tax refunding, the prolonged and complicated importation of goods and raw materials subject to tariff and tax exemption, and the importation of goods for commercial purposes through traditional border checkpoints as well as challenges of the tourism industry, according to President of the National Chamber of Industry and Commerce Oudeth Souvannavong.

Co-chaired by Minister of Industry and Commerce Khemmany Pholsena and President of the National Chamber of Industry and Commerce Oudeth Souvannavong, the meeting drew more than 400 ministers, representatives of government organizations, business community, international organizations and development partners.

“We are holding this meeting to discuss progress in addressing challenges the business sector is facing and the measures the government has planned to improve investment environment. The improvement of laws and other legal instruments is just among things necessary for ensuring the growth of business sector,” said Khemmany.

“However, the most important thing is to ensure that laws and legal instruments will be implemented effectively at all levels. Regulation by the government sector and discussion mechanisms under this 11th Lao Business Forum will become an important tool for monitoring the implementation of laws and regulations,” said Khemmany.