Business Etiquette Greeting –Laos people should be addressed by their first names, preceded by the title Mr. or Madame. If they occupy position of respect, “Than” used to address them. While handshakes are used, people also clasp their two hands and take a bow. Distributing business cards is encouraged. Different types of smiles are used to… Continue reading Business Etiquette
Digital Economy Internet Penetration Rate – The numbers post 2017 for the internet penetration rate aren’t available for Laos. As of 2017, the rate of Internet Penetration lies at 25.5%. From the following charts it is observed that Internet Penetration rate has grown substantially in the years 2010-2017. The economy has observed an increased from a mere 7%… Continue reading Digital Economy
Foreign Direct Investment Foreign direct investments in Laos stood at $208.1 million at the end of 2020, according to data provided by the Bank of the Lao PDR. FDI growth over time – The following graph depicts the FDI growth of Laos, as per the data obtained from Ministry of Planning and Development. In 2019, the… Continue reading Foreign Direct Investment
Taxation Structure Corporate Income Tax (CIT) – Profit tax is levied on income. Small and medium enterprises that are not registered under the Value Added Tax (VAT) system are subject to lump-sum tax instead of profit tax. This applies to enterprises which have annual revenue of less than LAK 12 million. A 24% profit tax rate… Continue reading Taxation Structure
Ease of Doing Business and Corruption Ease of Doing Business Ranking –Laos’s ease of business ranking depicts a complex and opaque business environment, with barriers to regional trade and integration that limit its attractiveness as an investment destination. Investors complain about high costs of doing business and the absence of a transparent, dynamic, and streamlined business… Continue reading Ease of Doing Business
Government Structure and Society Government Structure The constitution of 1991, which declares the party to be the “leading nucleus” of the political system, provides for a National Assembly, the members of which are elected to five-year terms. The National Assembly elects the president and vice president and approves presidential appointments of the prime minister and members of… Continue reading Government & Society
Demographic Advantage Population – Laos is currently ranked as the 105th most populous country in the world, as it moved up by one place following the year 2017. According to the World Bank, the population of Laos in 2020 stood at a mere 7.38 million people. The population growth rate for Laos remains stable at around 1.5% over the last 10… Continue reading Demographic Advantage
Historical Background The Lao people, the predominant ethnic group in present-day Laos, are a branch of the Tai peoples who by the 8th century CE had established a powerful kingdom, Nanzhao, in south-western China. These Tai people soon had to leave their land, due to repeated Mongol invasions by Kublai Khan. The first Laotian state,… Continue reading Historical Background
COUNTRY HIGHLIGHTS Laos > Country Highlights COUNTRY HIGHLIGHTS FOR LAOS Map of Laos Geography The topography of Laos is largely mountainous, with the Annamite Range in the northeast and east and the Luang Prabang Range in the northwest, among other ranges typically characterized by steep terrain. Total Land Area236,800 sq km/91,428 sq mi CapitalVientiane GDP… Continue reading Country Highlights
