On 29 November, the Lao Ministry of Industry and Commerce issued an official announcement to ensure fair business practices and protect consumers during the New Year period, from 1 December to 31 January (Lunar New Year).
This decision comes in response to concerns about rising prices and potential product shortages that could negatively impact consumers.
The Ministry has outlined specific steps that business owners and traders must follow to keep prices stable and ensure fair practices during the busy holiday season.
Entrepreneurs and traders must sell products at regular prices and are prohibited from hoarding goods or raising prices unfairly.
All products must meet safety standards, have labels in Lao, and be sold in Lao kip only. Selling damaged or expired goods is not allowed.
For businesses selling gift baskets, the store’s address and phone number must be provided for easier contact by officials.
Additionally, any business making gift baskets must get permission from the Industry and Commerce Office in their city. They must also stamp their company logo on the gift baskets if applicable. Businesses that do not follow these regulations will face penalties according to the official guidelines.
The ministry has also announced that the import and sale of fireworks are strictly prohibited during this time to prevent safety risks.
To ensure everyone follows these regulations, the domestic trade sector and the industry and commerce offices in nine cities will work closely with businesses, supermarkets, and traders. They will monitor the market to prevent price increases and product hoarding.
These regulations are effective immediately, and all businesses must follow them. Once the regulations are in place, businesses are asked to report back to the relevant authorities.
The ministry is focused on maintaining a stable and fair market during the holiday season and ensuring that businesses act responsibly.
