[:en]Arion Legal today announced it has joined Nextlaw Global Referral Network, enabling it to connect its clients to high-quality lawyers around the world. Nextlaw Global Referral Network is the largest legal referral network in the world, with 283 member firms, 18,600 lawyers covering 160 countries.[:]
[:en]Mr Manothong Vongsay, Director General of Investment Promotion Department, Ministry of Planning and Investment and Madame Valy Vetsaphong, Vice President of LNCCI led the consultation session on the Draft Law on Investment Promotion on 29 September 2016. During the session the latest draft of the Law on Investment Promotion was presented to members of the business community, including representatives from the foreign business chambers, AustCham and ECCIL, with attendees invited to provide their comments and feedback in relation to the draft law and its application.[:]
[:en]Banks in Laos have implemented stricter controls on foreign currencies notably the Thai baht and US dollar in a move to stabilise exchange rates and sustain the country’s economy. Speaking to Vientiane Times on Wednesday, bankers attributed the move to falling foreign currency reserves because businesses constantly required Thai baht and US dollars to import goods.[:]
[:en]Commercial banks in Laos have lowered the interest rates charged on loans and offered on Kip accounts in line with a recent decision made by the Bank of the Lao PDR, hoping to stimulate economic activity. Conversely, banks have raised the interest rates offered on Thai Baht and US dollar deposit accounts hoping to build up reserves of these currencies amidst rising demand for the baht and US dollar. Banks informed Vientiane Times yesterday that lowering the interest rates on Kip accounts and loans was intended to encourage people to spend Kip and boost economic productivity.[:]
[:en]Arion Legal is excited to announce the arrival of its newest Senior Legal Advisor, Steve Goddard. Steve is a qualified Australian Lawyer with several years’ experience specialising in foreign direct investment under the Cambodian, Myanmar and Lao PDR legal frameworks.[:]
[:en]Arion Legal’s engagement with the legal community in the Lao PDR has developed further recently with members of our Vientiane office visiting the local Lao People’s Court Zone IV and speaking with judicial officials, including the Deputy President, Mr. Somphavanh Rardsavong, regarding some of the challenges of practicing law in Lao PDR.[:]
[:en]Several years ago, the Lao government introduced a policy to reward qualified foreign expatriates in Laos with citizenship if they so desired. Laos also gives family books and ID cards to foreigners who do not want to denounce their original citizenship (permanent residence).[:]
[:en]Chinese telecom equipment maker, Comba Telecom Systems Holdings, recently announced its plans to buy a 51% stake in Laos’ state-owned telecom carrier, ETL, for $91.8 million.[:]
[:en]A development in the value-added tax (VAT) sphere of Laos has caused quite a stir on social media recently, following the issuance of a Decision by the Ministry of Finance and its subsequent reporting in the media. Given the ‘hoo-hah’ surrounding the development, we thought we’d weigh in with some commentary on it.[:]
[:en]The government has ordered some 1,154 family-unit furniture plants across the country to shut down their illegal operations, a government spokesman announced yesterday. Additionally, more than 20 wood processing plants located in or near conservation and protected forests areas were also ordered to close down. The order was approved at the meeting between Prime Minister Thongloun Sisoulith and his deputies that took place on August 29 when the Task Force Committee reported its findings in relation to the illegal operations.[:]
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