The Lao government has approved a new regulation set to slash the registration time for new businesses from 10 to 3 days.
Approved by the Minister of Industry and Commerce, Malaythong Kommasith, this new regulation is poised to streamline the business registration process and promote investment in the country.
The platform, which will allow businesses to register online, will come into effect on 2 February. This digital platform is expected to revolutionize the registration process, making it more efficient and accessible to entrepreneurs. Although applicants will still have the option to register in person, the online option aims to expedite the process and enhance convenience.
Once an application is submitted and meets the prescribed criteria, officials responsible for processing the registrations will notify the applicant via email or SMS about the issuance date.
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