Newly registered enterprises in Laos increases sharply

By VNA   May 8, 2023 | 06:46 pm PT
Newly registered enterprises in Laos increases sharply
An aerial view of Vientiane, capital city of Laos. Photo courtesy of Lao National Chamber of Commerce and Industry
In 2022, Laos had a total of 18,076 newly registered enterprises, with a total registered capital of about US$7.5 billion, an increase of 42.94% compared to 2021, statistics of the country’s Ministry of Industry and Trade revealed.

The positive signals from the business registration situation in 2022 have proved Laos's determination in bringing the economy through a difficult period to recover and develop.

According to the ministry, the country’s reopening of its door after the pandemic has created favorable conditions for international visitors to enter Laos, which has created a positive impact on the tourism industry.

With the recovery of the economy post Covid-19 pandemic, together with the Lao Government's efforts in prioritizing macroeconomic stability and controlling inflation, the confidence of the country's businesses has gradually bounced back.

Besides, the increase in the number of newly registered businesses in 2022 has partly shown that the macroeconomic management solutions are implemented in the right direction, creating confidence and optimism for the people and business community after two years of Covid-19 outbreak.

Currently, the Lao Government, ministries and branches are supporting businesses to grab opportunities to grow, while improving the business investment environment, as well as issuing timely, transparent and favorable policies, creating motivation for businesses in the country.

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