Vientiane (VNA) – The latest Provincial Facilitation for Investment and Trade Index report reflects the Lao government's efforts to improve the business environment.
The report, conducted by the Lao National Chamber of Commerce and Industry (LNCCI) and the Asian Development Bank (ADB), is based on a nationwide survey of 1,386 businesses across 17 provinces and cities.
The report indicates that since 2018, the public sector has clearly defined timelines for document approval, reducing the time required to establish a business to just 17 days, including 10 days for the issuance of a business registration certificate, five days for seal engraving, and two days for social insurance registration.
In addition, the Ministry of Planning and Ilicensing requirementsnvestment has removed investment barriers by reducing the number of conditional business sectors from 44 to 19. The ministry, in collaboration with the Ministry of Industry and Trade, has also abolished licensing requirements for 14 low-risk business activities, making it much easier to start a business.
The report also highlights progress in international trade, noting that the Government has implemented the National Single Window at 28 international border gates nationwide since March 2024, helping improve import and export procedures in line with international standards.
Although the reform results have been viewed positively, feedback from the business community gathered through the survey also highlighted several outstanding issues that the government must urgently address to strengthen confidence among foreign investors. They include a lack of clarity in regulations governing the entry and exit of foreign cargo trucks; restrictions preventing foreigners from holding executive positions in business associations; and legal barriers such as the absence of an online loan approval system and delays in the enforcement of court rulings./.
