Lao PDR Lays the Foundation for its Competition Regime
n 14 July 2015, the National Assembly of Lao People’s Democratic Republic passed the Law on Business Competition ( No. 60/ NA) ( Competition Law). Here are some highlights of the Law: the Competition Law prohibits certain Unfair Trade Practices, anti- competitive agreements and abuses of market power and regulates mergers; the Competition Law appears to be currently effective, but not fully implemented; a leniency policy and a potential reward mechanism, when implemented, change the risk dynamics of participating in anti- competitive agreements and other anticompetitive behavior; the Competition Law will have teeth – there are strong penalties that are potentially applicable. Given the current uncertainty, it is difficult to determine how the Competition Law will immediately affect businesses operating in the Lao PDR. Businesses should contact a qualified local adviser and start early to audit their conduct to determine potentially prohibited activities. For more information contact DFDL at david. fruitman@ dfdl. com.