Research On Problems And Improvement Of Investment Promotion Law In Laos

In 1986,Laos began to implement a new economic system,the main purpose of which is to transition from a centrally planned economy to a market economy.Since then,the Lao economy has developed rapidly and become an important part of the southeast Asian regional economy.With the gradual increase of the introduction of foreign capital,the flexible use of foreign capital has promoted the economic development of Laos and played a very important role in shaping and improving the socialist market economic system of Laos.After more than 30 years of reform and opening-up,the Economy of Laos has been developing continuously,which further demonstrates the importance of the Investment Promotion Law.Of course,the Investment Promotion Law of Laos is still not perfect,and in the process of promoting the economic development of Laos,it also shows the imperfections of the investment Promotion Law.Therefore,today,how to improve the Lao Investment Promotion Law,and thus effectively protect foreign investment has become an increasingly urgent problem.This paper analyzes the industrial system of foreign investment access in Laos and the approval system of foreign investment access in Laos by studying the subject of investment,the form of investment and the period of investment in Laos "Investment Promotion Law".In the process of continuous improvement of the Investment Promotion Law in Laos,there are still many problems,such as low transparency of foreign investment access approval standards,excessive discretion of approval agencies and officials,legal environment,foreign exchange control and tax law,etc.These deficiencies in the Investment Promotion Law may lead to government default risks and contract risks,which are not conducive to further foreign investment in Laos.This paper holds that if Laos wants to further attract foreign investment,first of all,it should perfect the legislation system of Laos.The second is to improve the "Investment Promotion Law" encouraging investment measures,including further improve tax preferential policies,strengthen foreign exchange management and improve the domestic infrastructure construction and investment soft environment;In terms of improving management measures,it is necessary to clearly define the scope of outward investment and simplify the examination and approval of foreign investment.Through the study of investment Promotion Law in Laos,we can further put forward countermeasures to enrich and improve the investment tax law and help Laos to achieve better development in the new era.