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Competition Law and Policy
The overarching goal of adopting a competition law is to create a regulatory framework to enhance efficiency and consumer welfare. Recognizing these benefits, the Government of the Laos has engaged in efforts to design a comprehensive competition policy strategy. These efforts include, among other initiatives, a Decree on Trade Competition issued in 2004 by the Prime Minister that is intended to serve as a starting point for the enactment and implementation of a national competition law.
The challenges now lie in creating an enforcement agency and preparing effective legislation. Success in both of these endeavors will depend on building the necessary political support for these initiatives, as well as widespread education and consensus-building to inform business and consumers of the benefits of competition. Overall, considerable effort on the part of Government is needed to improve the Laos’ competitive environment so that the country may maximize the benefits of membership in ASEAN and ASEAN Free Trade Area (AFTA), and a market economy more generally.
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