Laos to pursue trade, business environment improvement
The government of Australia will contribute US$2.5 million in additional funding for the ongoing Second Trade Development Facility Project, aiming to improve trade and Laos’ business environment. An official launch ceremony for the additional financing took place on March 13 at the Ministry of Industry and Commerce in Vientiane. The grant is funded by additional financing from Australia through a multi-donor trust which had initial funding of US$14 million, originally received by contributions from the government of Australia, Ireland, the United States, the European Union and Germany as well as the World Bank. The Second Trade Development Facility Project is being implemented by the Ministry of Industry and Commerce to support the government’s efforts to compete for quality international investors, through further reforms to develop a more business-friendly regulatory environment.
