Laotian Small Business – Setting Up in Laos. Laos is classified as a Least Developed Country (LDC) and relies heavily on donor assistance. At the same time, Laos has a number of economic advantages. It is situated in an economic growth area, sharing borders and common interests with Thailand, Vietnam, Cambodia and China. While the domestic market is very small, millions of people within 100 kilometres of Lao borders should generate new market opportunities as transit routes are further developed and as trade and investment governance is simplified and more effectively implemented. Laos is also relatively well-endowed with mineral resources. If you think you’re ready to start your business, here’s a an overview of resources you may need to use in order to make it happen.
Laos Small Business Setup – Banks
Banks in Laos. While many entrepreneurs put their own money into their new companies, it’s very possible that you’ll need financial assistance. A commercial loan through a bank is a good starting point, although these are often difficult to secure. The following banks provide different level of banking services in Laos:
- Bank of the Lao P.D.R.
- Lao Development Bank
- Indochina Bank
- Joint Development Bank
- Banque pour le Commerce Exterieur Lao
- Phongsavanh Bank
- ST Bank
- ANZ Laos
Laos Government, Business and Trade
Government, Business and Trade. To become an officially recognized business entity, you must register with the government. Corporations will need a document, which includes your business name, business purpose, corporate structure, stock details and other information about your company. Otherwise, you will just need to register your business name, which can be your legal name, or the name you’ve come up with for your company. The Laos Government, Business and Trade organisations are:
- Foreign Investment Management Cabinet
Luang Prabang Road, Vientiane
Tel:
Fax: - Department of Foreign Trade, Ministry of Commerce
Phone Xay Road, Vientiane
PO Box 4107
Tel: or 412 436
Fax:
News and Media in Laos
Media – Laos Small Business. Newspapers and Radio News
The Vientiane Times – www.vientianetimes.com
Laos and ASEAN – Asia (AEC)
Laos – ASEAN Ten Countries (AEC) which comprises of all the major nations in Southeast Asia. The goal of establishing Asean Economic Community (AEC) is to transform the region into a single market and production base with a highly competitive advantage to make it a stable and prosperous region. The countries are: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. You can find 20+ more countries in Asia information by following the link. Return to our Cambodia, Laos, Myanmar, Vietnam, Thailand main page to find more regions and posts about entrepreneurs and small business in Asia and around the world.
If you liked this post, you may also be interested in reading:
– Eco-tourism is big in Laos
– Laos Small Business Opportunities and Ideas
– Doing Business in Laos
– Laos Franchise Opportunity
– Laos Jobs for Foreigners
– Laos Online Video Marketing Guide
Guest Bloggers and Contributors Welcome: Would you like to contribute to our all-round small business blog? Please just contact us.
2 thoughts on “Laotian Small Business – Setting Up in Laos”