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

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

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

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

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