Govt seeks to regulate enterprises unlawfully raising capital

Proper investigation has been ordered into enterprises whose operations violate regulations and laws, notably those raising funds illegally from individuals for business operations, the government spokesman has said. The instruction was made at the government monthly meeting for March, which took place last week in Vientiane when the cabinet discussed measures to regulate businesses. More than 20 companies have encouraged individual members of the public to join business ventures, spokesman Prof. Dr Chaleun Yiapaoher said, citing a report from the Central Bank presented to the National Assembly. The enterprises in question included PS Lao Enterprise, which previously campaigned unlawfully to persuade individuals to become business partners by contributing funds to its operations. The company stopped trying to raise money last year after the government stepped in.

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