On 12 November 2020, the Investment Promotion Department, Ministry of Planning and Investment held a meeting to update on PM Order No.02 on regulation and coordination mechanism implementation of doing business reform in Lao PDR and Action Plan 2020-2022. The meeting was attended by representatives from various provincial government and private sectors in Pakse capital, Champasak province.
In his opening remarks by Dr. Mr. Phonesay Vilaysack (Ph.D), Deputy Director General of Investment Promotion Department, Ministry of Planning and Investment, stated the key updated on PM Order No.02 implementation of year 2020 and action plan 2020-2022 that ministers endorsed for 10 indicators. For the past few years, before PM Order No.02 dated 01 February 2018, doing business in Lao PDR faced difficulty condition that effected private sector with high cost compared to Asian countries. Therefore, Lao PDR was lastly ranked referring to the ease of doing business assessment.
After issued PM Order No.02 and follow by PM notice No.404, dated 11 March 2019, the regulation and coordination mechanism improvement of 10 indicators has gradualy increased which impact to better ease of dong business assesment with globla ranked 154/190 in the year 2020. Among others, the most outstanding reform is a reduction of time and procedures to register a business from 173 to 17 days and from 9 to 3 steps. Other reform progresses also include reduction in time and procedures to get a construction permit as well as allowing access to information online where Application forms and others relevant documents can now be downloadable online. In addition, request for getting electricity currently does not require a certificate signed by a village chief. Further more, paying tax achieved 3 custom laws and promulaged in the begining of 2020. For the trading accross border was also reduced procedures proof of issuing import documents for sparparts to assemble and produce in factory line, time reducation issuing mineral export and import license, Established specific time release sutdy taskforce (TRS).
In his closing remarks, the Chairman requested to all concerned provincial government, private sectors and ministries to increasingly hamonized the ease of diong business environment improvement of Lao PDR by reduction of time, procedure and related registering fee of licenses and aim attracking local and international qulaity investment, capacitising business competitiveness patern expanding sustainable growth and green national economic as visioned by the 10th party national conference’s resolution. Conitnue implement and expand the endorsed action paln 2020-2022 to the excellent progress and comphrehensive context of regulation and coordination mechanism ease of doing business in Lao PDR.
On behalf of PM Order No. 02 Coordination Secretariat, Ministry of Planning and Investment will continue supporting the sectors to eliminate barriers to enable private sector-led growth by improving regulatory environment, lowering trade costs and raising firm level competitiveness. We would like to express our sincere thanks to the develoment partners in particular the Lao PDR Competitiveness and Trade Project (LCT) for technical and financial support to deliver business environment reform prority actions.