On December 06, 2019, at the Landmark Hotel, Vientiane, the Ministry of Industry and Commerce held a press conference on the Electronic Trade of the Lao PDR. Mr. Bounmy Manivong, Vice Minister, Ministry of Industry and Commerce was the chair with 60 participants from the government and private sectors. The conference aimed to bring together and summarized key topics from both the public and the central business sector to incorporate the Lao PDR's Electronic Trade Law into a more complete and comprehensive content to be introduced at the upcoming Government Conference in early 2020.
Mr. Bounmy Manivong was the chair in the opening and closing ceremony with his comments on the current trend of information and technology. In Lao PDR, the trend brings a new style of consumer goods through online or electronic trades. This business style is highly effective and potentially developed the economy and society in terms of benefits for small and medium enterprises, including micro-enterprises. Due to the fact that costs are low, no obstacles and quick access to consumers in domestic and international markets.
According to the draft of this decree, the purpose is to determine the principles, regulations, and measures for the management, monitoring, and inspection of Electronic Trade in Lao PDR to be developed, modern and reliable in order to protect the rights and interests of consumers and electronic transactions dealers in the region and socio-economics development.
Sample of two articles of the Draft on Electronic Trade Law of the Lao PDR
Article 14. Permission to conduct an electronic trade business: A request for permission to conduct an electronic trade that is for the right to conduct an electronic trading business. A business of electronic trade can be permitted by following the procedure and regulations prescribed by the Ministry of Industry and Commerce. Any individual, legal entity or organization that has been in a kind of this business before the enactment of this decree shall apply for permission to conduct business in accordance with the procedures and regulations laid down by the Ministry of Industry and Commerce.
Article 21. Breach the contract of an electronic trade means there is a mistake or a whole failure of the agreement which can refer that the contract ends. Due to the fact that the failure to comply with the time and place specified in the contract or rejection. In the event of a breach of contract, either party breaches the agreed electronic trade, and the party is liable to pay for any damages incurred unless the breach of this agreement has been materially due.
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