Our objective in Lao PDR is to expand and accelerate private sector services and facilities. We aim to help improve the country’s business environment, increase support for sustainable development of natural resource projects, and build up the country’s financial sector in order to increase access to finance and promote equitable growth. Our recent efforts have helped to improve the Government-private sector dialogue on business development, the Enterprise, Investment, Mining and Commercial Banking laws, the promotion of sustainable tourism and agri-business, and exploration of opportunities for private participation in hydropower projects.
Our core products take into account changing market demand and Lao PDR’s development progress. They are:
Improving the investment climate (IC): We continue to work with the Enterprise Registry Office and the Ministry of Industry and Commerce on improving legal and regulatory frameworks for establishing and operating a business. We also support the development of a best practice legal and regulatory framework that streamlines investment procedures. We also coordinate a semi-annual business forum in Lao PDR that serves as a platform for meaningful discussion between representatives from the government and business community.
Increasing private sector access to financial services (ATF): Our ongoing efforts include developing a regulatory framework and establishing a secured transactions registry that facilitates the use of movable assets as collateral. We are also exploring the potential for integrating retail banking credit information into a broader credit information reporting mechanism.
Improving competitiveness and productivity of firms (Corporate Advice): We are developing Lao’s bamboo sector along integrated supply chains in order to create rural employment and increase earnings for farmers.
Increasing private sector access to infrastructure (ATI): As part of the World Bank Group’s support for the Lao PDR Rural Electrification Program, we are assisting the government in addressing the expansion of off-grid rural electrification. We expect to better enable the private sector to invest in delivering quality and sustainable electricity to a number of rural villages.
