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Laos has completed a draft competition bill, in preparation for the Asean Economic Community ("AEC") which takes effect in December 2015. A technical official from Ministry of Industry and Commerce stated that the draft competition law, aimed at governing trade competition and market access in line with the requirements of the single economic region, will be submitted to the Lao National Assembly in the middle of next year for approval and enactment.
Government officials have started introducing the draft bill in the provinces throughout the country to generate awareness and understanding of the law. They intend to reach out to officials from the state sectors, the private business operators and the public in general.
A relevant and effective competition regime will be one of the pillars of the country's economy to ensure Laos is in a position to benefit from greater regional integration.
Laotian hydropower company EDL-Generation ("EDL-Gen") plans to invest US$1 billion(US$32.70 billion) within five years from 2015 to boost production capacity from 881 megawatts to 2,272 MW. To raise 6.5 billion baht of the target investment amount, EDL-Gen will issue debentures in Thailand's capital market in December. This will be the first time that a private Laotian firm has raised funds in Thailand's capital market.
The company has appointed Standard Chartered Bank (Thai), Bank of Ayudhya and TMB as joint lead arrangers for the debentures issues.
EDL-Gen is a major private hydroelectric power generator in Laos. It is one of three listed on the Lao Securities Exchanges (LSX) and accounts for about 80% of the total market capitalization of the exchanges.
Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only
intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice.
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