ID :
19501
Mon, 09/15/2008 - 10:27
Auther :
Shortlink :
https://oananews.org//node/19501
The shortlink copeid
The Ease of Doing Business is underway
The Ease of Doing Business is underway
(KPL) Laos has important business environment reforms underway with the assistance from the World Bank, IFC and other donors.
According to the Doing Business Survey 2009 recently published by the International Finance Corporation and the World Bank, such efforts of the government are expected to improve the business environment.
These include the preparation of the Implementing Decree for the Secured Transactions Law that will enable borrowers to use moveable and intangible assets as collateral, including equipment, vehicles, inventory, and accounts receivable.
The decree, under preparation with the support of IFC, will establish rules for a collateral registration system and guidelines for repossessing collateral if a borrower fails to repay.
A new mining law is being drafted reflecting the government’s desire to raise the sector’s importance and attract high quality investors that follow sound international practice. In addition, measures to reduce import/export time and costs by improving the efficiency and effectiveness of customs’ administration.
The government is also preparing a new investment law this year, which will ensure a level-playing field for all investors and streamline procedures for the private sector.
“Enabling financial institutions to accept moveable assets as collateral will be a major improvement in access to finance in Laos,” said Trang Nguyen, IFC’s Head of IFC Advisory Services for the Mekong Region.
“This will allow small and medium enterprises with valuable moveable assets but lacking land and buildings to use as collateral, to get the financing needed to improve its business.”
Nguyen also enumerated reforms underway which will make it significantly easier and cheaper to register a new business in Lao PDR once implementing regulations for the Enterprise Law are fully implemented.
“Economies need rules that are efficient, easy to use, and accessible to all who have to use them,” said Michael Klein, World Bank/IFC Vice President for Financial and Private Sector Development, who visited Lao PDR in April to meet with government on business environment reform.
(KPL) Laos has important business environment reforms underway with the assistance from the World Bank, IFC and other donors.
According to the Doing Business Survey 2009 recently published by the International Finance Corporation and the World Bank, such efforts of the government are expected to improve the business environment.
These include the preparation of the Implementing Decree for the Secured Transactions Law that will enable borrowers to use moveable and intangible assets as collateral, including equipment, vehicles, inventory, and accounts receivable.
The decree, under preparation with the support of IFC, will establish rules for a collateral registration system and guidelines for repossessing collateral if a borrower fails to repay.
A new mining law is being drafted reflecting the government’s desire to raise the sector’s importance and attract high quality investors that follow sound international practice. In addition, measures to reduce import/export time and costs by improving the efficiency and effectiveness of customs’ administration.
The government is also preparing a new investment law this year, which will ensure a level-playing field for all investors and streamline procedures for the private sector.
“Enabling financial institutions to accept moveable assets as collateral will be a major improvement in access to finance in Laos,” said Trang Nguyen, IFC’s Head of IFC Advisory Services for the Mekong Region.
“This will allow small and medium enterprises with valuable moveable assets but lacking land and buildings to use as collateral, to get the financing needed to improve its business.”
Nguyen also enumerated reforms underway which will make it significantly easier and cheaper to register a new business in Lao PDR once implementing regulations for the Enterprise Law are fully implemented.
“Economies need rules that are efficient, easy to use, and accessible to all who have to use them,” said Michael Klein, World Bank/IFC Vice President for Financial and Private Sector Development, who visited Lao PDR in April to meet with government on business environment reform.
