Laos - Improvement expected in Doing Business Ranking 2013

Laos expects to gain a better place next year in the World Bank funded survey of Doing Business Ranking, after improving import and export regulations and procedures.

“We have received unofficial information that Laos is ranked in the top 10 outstanding countries, which see improved import and export procedures in the Doing Business 2013 report,” Deputy Minister of Industry and Commerce, Ms Khemmani Pholsena said last week.

She was speaking at the opening ceremony of the second meeting of the Trade Facilitation Secretariat at the Mercure Hotel in Vientiane on August 29, saying that the achievement is due to the contribution of secretariat officials who simplify import and export regulations and procedures.

Ms Khemmani said the improved import and export regulations and procedures would enable Laos to gain a better place in the Doing Business Ranking 2013 report, which was expected to be released officially early next year.

The International Finance Corporation (IFC), a private arm of the World Bank, annually ranks 183 economies worldwide according to their performance in 10 categories: starting a business, ease of obtaining a construction permit, electricity connection, property registration, obtaining credit, protecting investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency.

Laos is ranked 165th in the IFC’s Doing Business ranking for 2012, dropping from 163rd in 2011, despite the government having made key economic policy reforms.

According to a report from the Lao Trade Facilitation Secretariat, over the past few years, Laos has amended a number of laws and regulations to ensure that its import and export procedures will be simplified to boost trade and investment.

The amendment of the laws is also part of the Lao government’s efforts to become a member of the World Trade Organisation early next year.

According to the Lao Trade Facilitation Strategy, the country has to achieve nine goals between 2011 and 2015 including making import and export procedures transparent and accountable.

Laos will also have to lower the cost of cross border transportation services, reduce the number of trade permit documents by 30 percent in 2013, 70 percent in 2015 and ensure that an application for an import or export permit will be answered within two hours, according to the strategy.

One of the main goals which Laos aims to achieve in implementing the trade facilitation programme is to ensure that exports see an 18 percent increase in value between 2011 and 2015.

Ms Khemmani said that Laos had to improve its trade and business climate as the Party and government considered trade and business as one of the key areas of growth over the coming years.

Source: Vientiane Times

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