Lao PDR, which submitted its application for the accession into
the World Trade Organization (WTO) and aims to successfully become a member of
this organization in 2009, continues to take many steps in improving its
conditions, especially in trading and investment policy.
According to Mr. Manothong Vongsay, Deputy
Director General of the Investment Promotion Department, Ministry of Planning
and Investment, government of Laos plans to grant permission to local
authorities to issue unlimited number of investment licenses to both domestic
and foreign investment, which have conducted the environmental and social
impacts that meet international standards.
In addition, Laos has progress in many aspects, such as the development and issuance
of the law on standardization, the Intellectual Property Right (IPR) law, the
decrees for the implementation of Taxation Law and Business Law, but many other
legal, financial and human capital requirements need to be addressed. As emphasized by Mr. Bounsom
Phomvihane, Director of Foreign Trade Policy of Ministry of Industry and Commerce, Laos has
already improved its human resources and issued many laws; however, it still
needs to take many other steps before it can join the WTO.
Listen to Songrit's report for further details in Lao.