Small and Medium-Sized Enterprises Promotion Law (Revised)

中小微企业促进法（修订版）

ກົດໝາຍ ວ່າດ້ວຍການສົ່ງເສີມຈຸນລະວິສາຫະກິດ, ວິສາຫະກິດຂະໜາດນ້ອຍ ແລະ ກາງ (ສະບັບປັບປຸງ)

Document No.: 16/NA
Issued by: 老挝国会 National Assembly (ສະພາແຫ່ງຊາດ)
Date issued: 2022-07-07

Summary

This Law stipulates the criteria for defining micro, small, and medium-sized enterprises and the measures for their promotion, aiming to foster the sound development of such enterprises. The scope of application covers eligible micro, small, and medium-sized enterprises, specifying relevant promotional policies and support mechanisms to enhance their operational capacity and market competitiveness.

Articles

Article 1

Article 1 Purpose (Amended)
This Law prescribes principles, rules, and measures regarding the organization, activities, management, and supervision of the promotion of micro, small, and medium enterprises, in order to develop and enhance the competitiveness of micro, small, and medium enterprises, promote the production of goods, trade, and services, aiming to create employment, increase income, protect local wisdom, raise the living standards of the people, achieve comprehensive and sustainable development, and contribute to the growth and strengthening of the national economy and society.

Article 2

Article 2 Micro, Small and Medium Enterprises (Amended)
Micro, small and medium enterprises refer to business units that are properly established and operated in accordance with laws and relevant regulations, with their scale determined by the average annual number of laborers, total asset value, and total annual operating revenue for each enterprise category, and the specific scale shall be prescribed by the government in each period.
Micro, small and medium enterprises are abbreviated as "ຈນກ" (MSMEs).

Article 3

Article 3. Promotion of Micro, Small, and Medium Enterprises
Promotion of micro, small, and medium enterprises refers to the creation of a favorable environment and conditions in all aspects for operators in the establishment, operation, and development of micro, small, and medium enterprises through the formulation of policies and determination of measures.

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