Why Set Up Your Business in Laos?
Are you looking for the best place to set up your business?
If you are making a list of countries for this purpose, you should add Laos to it.
Laos, located in South East Asia, is the only landlocked country in the region. The country offers wide arrays of opportunities for businesses that are looking for a great place to set up their business. From the political, economic, social and economical point of view, Laos offers everything that a business looks for in a new country. The country is full of natural resources and it is the main sector of business in the country as well.
Let us look at the opportunities offered by Laos to the new business planning to set up there.
Integration with the international and regional arena
Laos may be a small country as compared to the others in the region, but it is still very well integrated with the regional and international arena. It is a member of many international organizations. Laos also enjoys GSP, General Special Preferences privileges with as many as 42 countries of the world. Laos has signed a number of bilateral investment treaties with 27 countries. Laos also enjoys normal trade relations with America. It is also under the process of becoming a member of the World Trade Organization.
All of these are specialties that make Laos a great place for investment, as well as, setting up business in the country.
There are a number of comparative advantages that Laos enjoys as compared to other countries of the same region. The country has millions of hectares of unexploited natural resources and fertile agriculture land. There are plentiful sites for tourism in the country. The country is safe as compared to other countries of the region. There are no natural disasters yet and the people of Laos are very welcoming.
Laos is one of the most stable countries in the region when it comes to politics. The economy and financial stability of the country is also noteworthy. It is high is socio-economic development and the crime rate in the country is very low. This proves the point that the country is very secure as compared to other South Asian countries. You can get labor in low cost than other nearby countries and the laws and regulation set by the state favor businesses that want to set up in the country, thus making it a great place to set up your business.
It can be difficult for a company to enter a country that is entirely new to them. The people of Laos are, however, very tolerant, kind and welcoming. There is not only a great economical environment offered by Laos but you will also get all the commodities of life in this small country. The country is a safe option if you want to set up your business.