MOIC LAO | Reduce procedure for the import of vehicle parts, raw petroleum and semi processed petroleum for combination, distill or production in factories
Reduce procedure for the import of vehicle parts, raw petroleum and semi processed petroleum for combination, distill or production in factories
Ministry of Industry and Commerce issues an Order No. 0535/MOIC.DIMEX, dated 10 April 2017 for the Department of Import and Export to terminate the issuance of import license of vehicle parts, raw petroleum, semi processed petroleum for combination, distill or production in factories.
Previously, the import of the above-mentioned products is required to obtain both an import license from Department of import and export, and a technical certificate from Department of Industry and Handicraft leading to document compliance that take times and cost. As a result, entrepreneurs will take high production cost that lower their competitiveness. Therefore, the Order stipulates that Department of Import and Export shall terminate the issuance of import license of vehicle parts, raw petroleum and semi processed petroleum but the Department of Industry and Handicraft will be responsible for technical consideration and then issues import certificate so there is only one procedure. The import certificate is to replace import license, in which Department of Import and Export will coordinate with Department of Customs (Ministry of Finance) to inform customs authorities at border checkpoints to acknowledge and strictly implement. The order will help domestic and foreign business operator in Lao PDR to reduce burdensome on document compliance, save time and cost, and it is also a measure to attract more domestic and foreign investors to invest in Lao PDR.
The order will become effective on 8th May 2017
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