Decree on Special Economic Zones
关于经济特区的法令
ດຳລັດ ວ່າດ້ວຍ ເຂດເສດຖະກິດພິເສດ
Summary
This decree, issued by the Government of the Lao PDR as implementing regulations for the Investment Promotion Law, stipulates the establishment and operation of special economic zones, investment, formation of SEZ management committees, preferential policies for developers and investors, land use, management and inspection, rewards and penalties, to attract investment and promote sustainable national economic and social development.
Articles
Article 1
Purpose. This Decree stipulates the principles, regulations, and measures regarding the establishment and operation of Special Economic Zones, serving as detailed implementation of the Law on Investment Promotion. It aims to attract investment through the formulation of special preferential policies, making investment convenient, swift, standardized, and transparent, safeguarding the rights and interests of the State, the people, zone developers, and investors, aligning with regional and international standards, and contributing to the national socio-economic development in a sustained and sustainable manner.
Article 2
Special Economic Zones. Special Economic Zones, abbreviated as "ຂສພ" and referred to as Special Economic Zone (SEZ) in English, are areas with a specialized management mechanism, established to create conditions for attracting investments that adopt high technology, utilize innovation for commercialized agricultural production, clean production, conservation of natural resources and energy, and achieve sustainable and environmentally friendly development. Special Economic Zones may include industrial parks, agricultural development zones, export processing industries, technology and information development, services, commerce, and tourism.
Article 3
Interpretation of Terms. The terms used in this Decree shall have the following meanings: 1. Manufacturing industry refers to the production, raw material processing, and semi-finished product processing within a factory using machinery, modern technology, and human labor, transforming them from their original state into new commercialized products, including the assembly of components into new products that create added value; 2. Service industry refers to the development of natural, cultural, and historical tourism; public health, education, and sports services; hotel and entertainment industry; real estate; modern shopping centers; transportation services; banking and finance; 3. Special Economic Zone Developer refers to a legal entity licensed by the Government of the Lao People's Democratic Republic to invest in and develop infrastructure within a special economic zone; 4. Investor refers to a natural person or legal entity licensed to invest in and engage in manufacturing, trade, and service operations within a special economic zone in accordance with the law; 5. Investment Promotion and Management Committee refers to an organization established by the Government with functions for investment promotion and management as stipulated in the Law on Investment Promotion; 6. Special Economic Zone Management Committee refers to a leading organization established for the promotion and management of special economic zones, authorized to be established in provinces and the capital; 7. One-Stop Investment Service Unit refers to an organization established to facilitate all work related to manufacturing, trade, and service operations within a special economic zone, making it convenient, transparent, and efficient.
Showing the first 3 of 70 articles. Open the LaoPaniti app for the full trilingual text.
Read the full trilingual text with AI explanation in the LaoPaniti app← LaoPaniti home: AI legal Q&A · contract drafting · Chinese-Lao translation