Business gains knowledge on investment promotion law
Business gains knowledge on investment promotion law
Mome 50 representatives from business sectors have learned how to effectively and constructively give comments on draft legislation and investment promotion law that will affect their businesses at a seminar yesterday in Vientiane.
The seminar on “How to Effectively Comment on Draft legislation-Giving comments on Draft Investment Promotion Law” was organised by the Lao National Chamber of Commerce and Industry (LNCCI), with the support of the United States Agency for International Development (USAID) LUNA II.
Speaking as co-chair, Vice President of LNCCI MrSaman Aneka said the seminar provided a good chance for the business sector to give their comments on draft legislation.
In fact, there should be more opportunities open for every business to give their comments on legislation related to their businesses, he added.
The Lao National Chamber of Commerce and Industry has been summarising comments and will submit them to the Ministry of Planning and Investment for consideration on draft amendments to the law on investment promotion.
He commented that good legislation would make a productive environment and create opportunities for investment and the business sector in Laos.
Participant gave comments on the draft law on investment promotion from the perspective of ensuring business growth while meeting obligations to the government.
Gove rnment and business sectors must work together to improve legislation and enforce the law to achieve the desired outcomes, MrSaman added.
LUNA II was established by a memorandum of understanding between USAID and the Ministry of Industry and Commerce. It aims to promote trade and investment in Laos, primarily by helping the country meet its commitments under various trade arrangements, such as the World Trade Organisation and the Asean E conomic Community, LUNA II Chief of Party Acknowledgements Mr Daniel Fitzpatrick said.
While increasing trade and facilitating commerce was their immediate goal, their ultimate target was to create more jobs and help raise the living standards of the Lao people, he added.
“I get the impression that many of you are here because of your interest in the draft amendments to the Law on Investment Promotion. This is a very important law, well deserving of your interest,” he said.
During the seminar, participants discussed with legal experts from the private sector, as well as officials from the Ministry of Justice, how to comment on draft legislation online via the Electronic Official Gazette website.
