Launching of the New Law on Business Competition
The Law on Business Competition was launched by the Minister of Industry and Commerce, H.E. Khemmani Pholsena, in an official ceremony in Vientiane, Lao PDR, on 8 January 2016. More than 180 high-ranking representatives from the public and private sector, including the German Ambassador, H.E. Michael Grau, attended the event.
Fair and effective competition contributes to higher economic growth, competitiveness and consumer welfare.
With the enactment of the new competition law, Lao PDR is realizing an important commitment and prerequisite for its integration into the ASEAN Economic Community (AEC).
A crucial element during the drafting stage had been an intensive cooperation with more advanced agencies in the region. In a successful “ASEAN helps ASEAN” approach, several study visits to Indonesia and Vietnam served to exchange valuable policy lessons and insights. Officials from other ASEAN countries were also repeatedly invited to consultations in Lao PDR.
Next steps include developing a strategic action plan, regulations and capacities for the implementation of the law. For this, the Ministry of Industry and Commerce (MoIC) of Lao PDR will continue to receive assistance from Germany (through GIZ) as well as Australia/New Zealand, among others. In-country activities will be closely aligned with the initiatives under the ASEAN Competition Action Plan 2016-2025.