By continuing to the results of the 15th Lao-Japan Public-Private Dialogue in December 2021. On encouraging more and more Japanese investment in Laos. The process of investment in Laos will be more streamlined through a one-stop service system for investors under a Memorandum of Cooperation agreed to by Laos’ Ministry of Planning and Investment and the Japan External Trade Organization (JETRO) Vientiane.
The agreement was signed in Vientiane on March 23 by the Director General of the Investment Promotion Department, Ministry of Planning and Investment, Mr Outakeo Keoduansinh, and Chief Representative of JETRO Vientiane, Mr Kikuchi Yasushi.
The Memorandum of Cooperation aims to promote investment in Laos by establishing a one-stop pre-consultation service for interested investors especially in new industries, as exemplified by startups and the service industry. The new system will include all the requisite forms so that investors are able to confirm all of the required procedures, in order to carry out their business plans at the stage when they are considering investment. It includes procedures for administrative agencies and related ministries, the required documents, necessary business licenses, and outstanding issues.
Currently, new start-ups and investors need to confirm in advance whether a business license is necessary for corporate activities or whether there are any restrictions on foreign capital before starting a business in Laos. The objective of the Memorandum of Cooperation is to further streamline the one-stop service through cooperation between both organizations to enable fast and convenient functions to improve the investment process in Laos.