Lao PM calls for measures to boost investment

Lao Prime Minister Thongloun Sisoulith has urged line ministries to remove any unnecessary barriers to help boost the country's business environment and promote domestic and foreign investment.

"The government is trying to develop a favorable business environment and simplify unnecessary procedures that are a hindrance to the operations of both domestic and foreign businesses," Prime Minister Thongloun said when addressing the 10th Lao Business Forum in Vientiane on Tuesday.

He noted that Laos has been facing challenges and obstacles, resulting in slow change and the ineffective promotion of a suitable business climate, and suggested this was deterring foreign investors, local daily Vientiane Times reported on Wednesday.

"For instance, the complicated and slow procedures involved in imports and exports has been a long-time issue, so the Ministry of Industry and Commerce should take action to deal with the problem," he said.

Prime Minister Thongloun said these difficult issues could also be discussed at the monthly government meeting to seek proper solutions.

Minister of Industry and Commerce Khemmani Pholsena said improvement of the legal and regulatory environment was a prerequisite for the growth of private enterprise.

"Despite our past efforts, businesses still face a number of challenges associated with the ineffective enforcement of laws and regulations across the country," she said, adding that the lessons learnt from past interventions and exploration would encourage more effective approaches in the years to come. Endit