Research On Foreign Investment Law In Laos

After the international community entered the era of economic globalization,many developing countries have seized this rare opportunity for development,and national economic development has entered the fast lane.Among many countries,the most attractive one is China,which has made remarkable achievements in promoting domestic economic growth by means of export,consumption and investment troika.Statistics show that 2016 China ranked third in attracting foreign investment;in 2017,China ranked second in attracting foreign investment;and in the first half of 2018,China attracted more foreign investment than the United States,becoming the first.China's achievements in economic growth have benefited from the reform and opening up.In the process of reform and opening up,a large number of policies and legislation have been introduced to attract foreign investment,which is worthy of further study and study.As a neighboring country of China,Laos attach great importance to China's development and in 1986,it followed China's reform and opening up policy.The reform and opening up policy quickly promoted Lao's economic development.At the same time,Laos still did not completely get rid of the weak industrial base and backward agricultural technology.The current situation of low market development,inconvenient transportation,lack of talents,and low level of national production and living standards have led to the bottleneck of reform and opening up.In order to break through the bottleneck of reform and opening up,the Lao government has established a legal system based on the Lao Constitution.comprehensively improved the foreign investment legal system,and attracted foreign investment in a sound institutional soft environment to help Laos get rid of the above mentioned disadvantage elements.While utilizing foreign capital to optimize the hard environment of Laos,we will further improve the soft environment of the system and realize the long-term national development plan from the promotion of foreign investment to the coordination of domestic and foreign investment.Therefore,the most crucial link is how to improve the legal system of foreign investment in Laos.In terms of approval procedures for foreign investment access,the governance capacity of the Lao people's government should be optimized.The functions and powers of the one-stop investment service office should be adjusted so that it not only ACTS as a bridge,but also has a certain degree of approval authority.It is also necessary to reduce the time limit of each examination and approval link and improve the efficiency of each examination and approval link,so as to optimize the efficiency of foreign investment access in Laos as a whole,and thus improve the level of investment facilitation in Laos.In the treatment of foreign investment access issues,should optimize the blacklist system,make it more transparent,more fair,more credible,at the same time to cancel the white list system has given investors the exclusive franchise industry business license,the government to guide more fair market competition,encourage innovation,realize the sustainable development in the field of investment;On the facilitation of investment access,we should follow China's example and gradually transition from a positive list system to a negative list system.Structural imbalances in attracting foreign investment,shall timely and properly adjust the catalog of foreign-funded industry,new position level 3 investments,together with the catalog of foreign-funded industry,adjust investment preferential policies to guide foreign investment to the advantage resources,structural imbalances and thus avoid attracting foreign investment,at the same time realize the Laotian government through the power of foreign the purpose of the balanced development of the national economic structure.