JETRO furthers support for investment in Laos

The process of investment in Laos will be more streamlined through a one-stop service system for investors under a Memorandum of Cooperation agreed to by Laos’ Ministry of Planning and Investment and the Japan External Trade Organization (JETRO) Vientiane.
The agreement was signed in Vientiane on March 23 by the Director General of the Investment Promotion Department, Ministry of Planning and Investment, Mr Outakeo Keoduansinh, and Chief Representative of JETRO Vientiane, Mr Kikuchi Yasushi.

(From left) Mr Kikuchi Yasushi and Mr Outakeo Keoduansinh shake hands after signing a Memorandum of Cooperation in Vientiane on Wednesday.

The Memorandum of Cooperation aims to promote investment in Laos by establishing a one-stop pre-consultation service for interested investors, especially in new industries, as exemplified by startups and the service industry.
The new system will include all the requisite forms so that investors are able to confirm all of the required procedures, in order to carry out their business plans at the stage when they are considering investment.
It includes procedures for administrative agencies and related ministries, the required documents, necessary business licences, and outstanding issues.
Currently, new start-ups and investors need to confirm in advance whether a business licence is necessary for corporate activities or whether there are any restrictions on foreign capital before starting a business in Laos.
The objective of the Memorandum of Cooperation is to further streamline the one-stop service through cooperation between both organiasations to enable fast and convenient functions to improve the investment process in Laos.
JETRO is a government-affiliated organisation tasked with promoting trade and investment between Japan and the rest of the world. It carries out research on developing countries through 76 overseas offices and 55 domestic offices, including the Institute of Developing Economies (IDE-JETRO).
Its activities are wide-ranging—such as promoting foreign direct investment (FDI) in Japan; assisting producers in exporting agricultural, forestry, fishery and food products; helping SMEs to expand business overseas; and doing research and offering various training programmes.
JETRO Vientiane formally started operation in 2014 after an agreement on its establishment was signed in the presence of then Japanese Prime Minister Abe Shinzo and then Lao Prime Minister Thongsing Thammavong at the Japan-ASEAN Summit Meeting in Tokyo in December 2013.

The cooperation will enable one-stop service pre-consultation for all investors.

Since then, JETRO Vientiane has taken on the role of drawing investment from Japanese companies to Laos and facilitating trade between Japan and Laos.

By Times Reporters
 (Latest Update March 25, 2022)