23 June 2016
LAOS: Luang Prabang Province Approves 100% FDI for ASEAN Investors
ASEAN investors are now entitled to hold a 100% stake in all companies registered in the Luang Prabang province, except for those associated with the tourism industry. In the latter case, such entities can only operate on a joint venture basis with a local company.
In addition, corporate income tax (CIT) of the province is to be waived for ASEAN investors for up to six years. The exact application including the tenure of CIT waiver will differ depending on the district the business is operating from.
Meanwhile, Hong Kong has yet to secure any free trade agreement with ASEAN, though the ASEAN-Hong Kong FTA is expected to be completed in 2016, after five rounds of negotiations have been held since July 2014.