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BUSINESS LAOS - JEWEL OF THE MEKONG
Member of ASEAN, ADB, ESCAP, FAO,
IBRD, WHO, IDA, WIPO,
IFC, ILO, IMF, UN, NCTAD, UNESCO, UNIDO, UNICEF, WHO,
EALAF, UNWTO
GDP 6/2007): Growth 7.6 %, average annual per capita income of
US$665, agriculture increased 2.4% covering 40.7% of GDP;
industry 15.2 %, covering 33.3% of GDP; and the service 7 %,
covering 26 % of GDP.
Agriculture Rice, corn, tobacco, coffee, cotton, beans, cardamon, benzoin,
stick lac, fruit.
Industry in, gypsum, mining, lumber, textiles, beverages, bricks, tiles,
pottery, cigarettes, cement.
Handicrafts Carvings, silk, cotton, silver, pottery, jewelry, traditional musical
instruments, wickerware.
Exports Chiefly hydroelectricity, timber, coffee, tin, gypsum, cardamom,
benzoin, rattan, plywood, garments and handicrafts.
Market Thailand, Vietnam, Japan, Europe, China, Canada and others.
Import Foodstuffs, machinery, fuel, manufactured goods
Laos has a hot, tropical climate and therefore when it comes to business, lightweight suits are common, worn with a tie. Visitors should bear in mind that the country is generally rather conservative and act accordingly. Business cards should be given and received using both hands and should be treated with respect. Handshakes are common, but a traditional greeting is the 'phanom' or 'wai', similar to the Indian 'namaste' where palms are placed together as if in prayer and held in front of the chest or face. Surnames usually come before first names, which can be confusing for visitors. French is more widely spoken and understood than English, though translators are available.
Business hours are usually from 8am to 12pm and 1pm to 4pm Monday to Friday.
Business visa:
A business visa is issued to persons investing in or registering a company in the Lao PDR. As the time taken to approve such investments is officially 60 days, a 30-day multiple-entry visa is initially given. In practice approving investments takes much longer and extensions to the initial visa are given.
These visas can be obtained in the Lao PDR only if there is a guarantee from a company set up in the country. The DDFI, the Ministry of Labour and Social Welfare, and the State Employment Enterprise are responsible for this.
Business visas can be granted for three months, six months or one year, costing US$38, US$75 or US$141 respectively, though these rates have a history of changing from time
to time.
Business Contacts
Lao National Chamber of Commerce and Industry
BP 4596, Phonphanao Village, Saysettha District, Vientiane, Laos
Tel: (21) 452 579.
Website: www.lncci.laotel.com
Ministry of Finance
Thatluang Road, Ban Phonxay, Xaysettha District, Vientiane PO Box 46, Laos
Tel: (21) 412 409.
IFC, ILO, IMF, UN, NCTAD, UNESCO, UNIDO, UNICEF, WHO,
EALAF, UNWTO
GDP 6/2007): Growth 7.6 %, average annual per capita income of
US$665, agriculture increased 2.4% covering 40.7% of GDP;
industry 15.2 %, covering 33.3% of GDP; and the service 7 %,
covering 26 % of GDP.
Agriculture Rice, corn, tobacco, coffee, cotton, beans, cardamon, benzoin,
stick lac, fruit.
Industry in, gypsum, mining, lumber, textiles, beverages, bricks, tiles,
pottery, cigarettes, cement.
Handicrafts Carvings, silk, cotton, silver, pottery, jewelry, traditional musical
instruments, wickerware.
Exports Chiefly hydroelectricity, timber, coffee, tin, gypsum, cardamom,
benzoin, rattan, plywood, garments and handicrafts.
Market Thailand, Vietnam, Japan, Europe, China, Canada and others.
Import Foodstuffs, machinery, fuel, manufactured goods
Laos has a hot, tropical climate and therefore when it comes to business, lightweight suits are common, worn with a tie. Visitors should bear in mind that the country is generally rather conservative and act accordingly. Business cards should be given and received using both hands and should be treated with respect. Handshakes are common, but a traditional greeting is the 'phanom' or 'wai', similar to the Indian 'namaste' where palms are placed together as if in prayer and held in front of the chest or face. Surnames usually come before first names, which can be confusing for visitors. French is more widely spoken and understood than English, though translators are available.
Business hours are usually from 8am to 12pm and 1pm to 4pm Monday to Friday.
Business visa:
A business visa is issued to persons investing in or registering a company in the Lao PDR. As the time taken to approve such investments is officially 60 days, a 30-day multiple-entry visa is initially given. In practice approving investments takes much longer and extensions to the initial visa are given.
These visas can be obtained in the Lao PDR only if there is a guarantee from a company set up in the country. The DDFI, the Ministry of Labour and Social Welfare, and the State Employment Enterprise are responsible for this.
Business visas can be granted for three months, six months or one year, costing US$38, US$75 or US$141 respectively, though these rates have a history of changing from time
to time.
Business Contacts
Lao National Chamber of Commerce and Industry
BP 4596, Phonphanao Village, Saysettha District, Vientiane, Laos
Tel: (21) 452 579.
Website: www.lncci.laotel.com
Thatluang Road, Ban Phonxay, Xaysettha District, Vientiane PO Box 46, Laos
Tel: (21) 412 409.
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