Maximum concession period cut to half century in investment promotion overhaul
A newly-amended Investment Promotion Law has moved to cut by half the maximum investment period for new concession projects to 50 years, down from previous maximum period of 99 years. The move is aimed at maximising investment benefits for the Lao economy, an official from the Ministry of Planning and Investment involved in the drafting of the amended law told Vientiane Times on April 17. President Bounnhang Vorachit issued a presidential decree to promulgate the law after it was passed by the National Assembly in November last year. An official who wished to remain unnamed said the previous period was too long to wait until the concession conditions could be revised. Applications by investors seeking to extend their concessions would also be considered.
