This Law on the Promotion of Domestic Investment the in Lao PDR determines principles, regulations and measures regarding the promotion, protection and management of domestic investment aiming at mobilising all economic sectors, using financial resources, resources, labour, knowledge to efficiently enhance production and to serve industrialisation and modernisation as well as to contribute in gradually improving the people's living conditions.
The State promotes domestic investors to invest in sectors and areas as prescribed in Articles 9 and 10, including: 1. Production for export and to replace imported goods; 2. Agricultural and forestry activities, agro-forestry and handicraft processing activities; 3. Activities relating to industrial processing, industrial activities using modern technology, activities relating to scientific study and development, activities in relation to protection of the environment and biodiversity; 4. Human resource development, skills development and protection of people's health; etc. Management authorities related to domestic investment are: the Committee of Promotion and Management of Investment at the central and provincial levels and trade authorities and other relevant authorities. Article 7 provides for the domestic investors' obligations, including: 1. To operate production and businesses in accordance with the licences and procedures set out in their feasibility study or a business plan, a contract and laws and regulations; 2. To fully pay duties, taxes and other fees in relation to business operations in a timely manner; 3. To address social security matters, health and security of employees in their enterprises; 4. To protect the environment and ensure that their business activities do not cause an adverse impact to the public, national security or social order; etc.
The Law further makes provisions, inter allia, for: incentive related to customs and taxes, application for a domestic investment licence, term of enterprise registration certificate, rights and benefits of domestic investors.
The State promotes domestic investors to invest in sectors and areas as prescribed in Articles 9 and 10, including: 1. Production for export and to replace imported goods; 2. Agricultural and forestry activities, agro-forestry and handicraft processing activities; 3. Activities relating to industrial processing, industrial activities using modern technology, activities relating to scientific study and development, activities in relation to protection of the environment and biodiversity; 4. Human resource development, skills development and protection of people's health; etc. Management authorities related to domestic investment are: the Committee of Promotion and Management of Investment at the central and provincial levels and trade authorities and other relevant authorities. Article 7 provides for the domestic investors' obligations, including: 1. To operate production and businesses in accordance with the licences and procedures set out in their feasibility study or a business plan, a contract and laws and regulations; 2. To fully pay duties, taxes and other fees in relation to business operations in a timely manner; 3. To address social security matters, health and security of employees in their enterprises; 4. To protect the environment and ensure that their business activities do not cause an adverse impact to the public, national security or social order; etc.
The Law further makes provisions, inter allia, for: incentive related to customs and taxes, application for a domestic investment licence, term of enterprise registration certificate, rights and benefits of domestic investors.
Title:
Law No. 10/NA on the Promotion of Domestic Investment.
Country:
Lao People’s Democratic Republic
Type of document:
Legislation
Date of text:
2004
Files:
Repealed:
No