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Tuesday, June 25, 2024

A Boom of New Lao Businesses

This Week

Over 7,640 new businesses registered to operate in Laos over the last six months, representing a 14.5 percent increase over the same period last year, according to a report from the Ministry of Industry and Commerce.

Vientiane Times reports that the in the first six months of last year, 6,675 businesses signed up to carry out commercial activities, with registered capital amounting to over 63.64 trillion Lao kip.

Retail and wholesale outlets, as well as vehicle and motorcycle repair businesses, accounted for most of the new business registrations in the first six months of this year.

Following this are businesses which deal with construction, processing plants, finance and insurance, agriculture, forestry and fishery, and real estate.

Mining operations, science research, electricity and fuel suppliers, transport and warehouse operations, rental accommodation and food services were also started.

Small and Medium Enterprises (SMEs), which make up more than 90% of all businesses in the country, continue to dominate the Lao business sector.

Lao business operators registered most of the new enterprises, followed by Chinese, Vietnamese, and Thai operators.

According to National Enterprise Database, over 60,000 businesses are based in Vientiane Capital, which is home to most investments in Laos.

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