World

Laos implements law on investment promotion

Laos has officially promulgated a law on investment promotion in an effort to lure more domestic and foreign investment.
Laos has officially promulgated a lawon investment promotion in an effort to lure more domestic and foreigninvestment.

Under the law, foreign-investedenterprises registering an investment capital of more than 500,000 USDwill be entitled to use land and own houses in several areas.

In addition, investors can enjoy reductions and exemptions on a numberof taxes depending on their fields of operation and locations in whichthey invest.

In isolated and remote areas, where infrastructure is poor, investorsin agriculture will enjoy a reduction on taxes on profits for up to 10years. Meanwhile, in urban areas, where infrastructure is good, thoseinvestors will enjoy the reduction for six years.

The incentives are also being extended to investors in industry,services, education and healthcare facilities. Investors in publicservices in poor and remote areas will be exempted from land-use feesfor 15 years./.
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