Govt officials prepare amendments to enterprise laws
Govt officials prepare amendments to enterprise laws
The Lao government is aiming to boost economic growth and help the business climate through brainstorming ideas on adjusting various decrees on enterprises to ensure they are able to compete with businesses in other countries in the region.
As Laos is working on preparations for Asean Economic Community (AEC) integration at the end of 2015, the government is taking this opportunity to add to economic growth and further contribute to the development of the nation.
Speaking at yesterday’s seminar, Minister to the Government’s Office and President of the Lao National Committee for Business Improvement, Mr Phouphet Khamphounvong, said improvements to state and private enterprises are key essentials for socio-economic development.
“It is a good opportunity for us to add some new ideas into the drafts of the decrees on enterprises, equipping them with proper guidelines so they can be tools to back strategic market policies,” he said.
A number of senior officials from line ministries, other equivalent level state organisations, director generals of line relevant departments and managing directors of major state-owned enterprises were also present at the seminar.
The committee is fulfilling its role in outlining the relevant regulations and the strategic plans as tools and references for the development of business sectors.
Head of the National Committee for Business Improvement Office at the Government’ Office, Dr Vilavanh Khamtanh, represented the secretariat committee in charge of preparing the draft decrees to present the drafts at the seminar.
The draft decrees of the government on enterprise laws which were brought into discussion at the scientific seminar, involved nine different decrees with 81 articles.
Most of the seminar participants contributed their views on the draft law on enterprises which they thought useful for removing various barriers that could be obstacles for state-owned enterprises to access funding.
Improvements to the administrative boards of structures in the state-owned enterprises were also a focus of discussion at the seminar.
Laos does not yet have existing policies and proper regulations on establishing and expanding the potential of state-owned enterprises as much as possible, making it hard to develop the country into a modern industrial society.
However the state-owned enterprises are fully responsible for the benefits of their business operations and their macroeconomic stability.
The enterprise decrees are designed with endeavours as the principle guideline for allocations, regulations for enterprise establishment, movement of business and auditing.
