Agreement on Wholesale and Retail Trade Operations
关于批发与零售贸易经营的协议
ຂໍ້ຕົກລົງ ວ່າດ້ວຍ ທຸລະກິດການຄ້າຂາຍຍົກ ແລະ ການຄ້າຂາຍຍ່ອຍ
Summary
This Agreement, issued by the Ministry of Industry and Commerce of Laos, stipulates principles, regulations, and measures for wholesale and retail trade operations, specifying business forms, establishment conditions (including registered capital and shareholding ratios for foreign investors), management, prohibited acts, and responsibilities of central, provincial, and district management agencies. It replaces the old Agreement No. 0977 of 2012.
Articles
Article 1
Purpose. This Agreement stipulates principles, regulations, and measures concerning wholesale and retail trade business activities, aiming to ensure that the establishment and operation of business entities are conducted in accordance with the law, implement centralized and unified management under the market economy mechanism, genuinely open truly fair competition channels, carry out systematic rectification, to create convenience, protect consumers, generate revenue for the state budget, improve the lives of ethnic groups, and contribute to the country's economic and social development.
Article 2
Wholesale and Retail. Wholesale refers to the sale of goods to natural persons or legal entities by wholesale means, for the purpose of further production, wholesale, or subsequent retail. Retail refers to the sale of goods at the final stage to natural persons or legal entities for their consumption.
Article 3
State Policy on Wholesale and Retail Trade Business. The State encourages and supports domestic natural persons and legal entities to engage in wholesale and retail business by establishing regulations, measures, providing information, services, and other related facilities. Foreign natural persons and legal entities may engage in wholesale and retail trade business, but must comply with the conditions stipulated in this Agreement and conform to relevant laws and other regulations.
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