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Laos Clarifies Business Requirements for Vehicle Industry

Laos has promulgated a new prime ministerial decree clarifying the import and export of vehicles, dealerships, and assembly plants as different types of business.

According to the new decree, a company that wants to operate all three types of business must obtain three separate operating licences from the commerce ministry. In the past, some companies used a single business licence to enjoy other businesses, Vientiane Times reported.

The new decree, which details information on business areas and requirements for the country’s vehicle industry, can be viewed at: https://www.laotradeportal.gov.la/

The Lao government’s move is designed to help state agencies to agencies to effectively administer vehicle businesses, which have been growing rapidly in recent years.

It is also aimed at limiting the number of operations that sell low-quality vehicles, which are harmful to the environment, while encouraging the sale of vehicles that are environmentally friendly, such as electric vehicles.

The government wants to encourage Lao companies to operate vehicle assembly plants through tax incentives.

Source: https://laotiantimes.com/2020/01/10/laos-clarifies-business-requirements-for-vehicle-industry/