The Investment Climate Advisory Services of the World Bank Group will
support the Lao government to improve business climate through
regulatory reforms over the next three years.
Lao
Deputy Minister of Planning and Investment Bounthavy Sisouphanthong
signed the agreement to this effect with Resident Representative of the
IFC to Laos Aimilios Chatzinikolaou in Vientiane on March 21.
Accordingly, the IFC through its Business Regulatory Project will help
the government eliminate unnecessary regulatory procedures and licenses
as well streamline procedures in key areas to business operation.
Mr. Bounthavy was quoted by KPL as saying that Laos highly
appreciates IFC’s long standing partnership and new initiative in
advising on the needed business regulatory reforms to foster an
investor-friendly environment.
He expressed his belief that IFC’s
global experience in conducting such work will help introduce the best
practices in business regulation to Laos.-VNA