Consultation Meeting on Defining a List of Required Documents When Applying for Investment Licenses and Streamlining of Business Operating Licenses under PM Order 03

On Wednesday, July 13, 2022, at 9:00 am, the Investment Promotion Department, Ministry of Planning and Investment organized a consultation meeting to discuss advancing the implementation of PM Order 03, creating a list of documents required when applying for investment in concession and controlled businesses, and streamlining of business operating licenses under PM Order 03. The meeting was under chairmanship of Mr Khomsai Nanthavong, Deputy Director of the Investment Promotion Department, Ministry of Planning and Investment, and was attended by more than 30 members of the PM Order 03 secretariat and its coordinating committee from key relevant sectors.

The purpose of this meeting is to provide an update on and assess the implementation of the key reform initiatives outlined in PM Order 03 with a focus on streamlining approval procedures and improving public services on business and investment licenses. The discussion was focused on exploring solutions to address all implementation challenges, developing clear action plan to push forward reform initiatives, creating a list of required documents that investors must present when applying for investment licenses, as well as improving legislation and coordination systems to facilitate business entry and operation in the country. Each relevant agency’s report update provided during the meeting demonstrates that they have focused on reform implementation within the extent of their tasks and responsibilities.

The Chairman concluded the meeting by urging all relevant agencies to expedite the development of their respective reform action plans, as well as the checklist of required documents when applying for investment licenses under their jurisdiction, by reviewing and streamlining unnecessary documents in order to improve the efficiency of the investment approval mechanism.

This meeting is supported by Lao Competitiveness and Trade (LCT) project is a multi-donor project funded by the World Bank Group, Australian Aid, Irish Aid, and USAID, which implementing at the Department of Planning and Cooperation, Ministry of Industry and Commerce. LCT project aims to eliminate the barriers to private sector-led growth by improving the regulatory environment, lowering trade costs and raising firm-level competitiveness.