To improve the business climate in Laos, the Ministry of Industry and Commerce (MOIC) recently held an event to introduce the revamped Intellectual Property Portal, with assistance from the United States Agency for International Development (USAID). This user-friendly website promotes a more vibrant and competitive economy by enabling companies to safeguard their inventions and ideas.  

This recently updated IP Portal, housed on dip.gov.la and created with help from USAID, acts as a one-stop shop offering simple advice on the intellectual property environment. Entrepreneurs may effectively protect their ideas through streamlined application procedures, and thorough explanations of intellectual property rights promote creativity, research and development spending. This would, therefore, encourage the development of fresh goods and services, giving Lao companies a competitive edge in the international marketplace. 

“The launch of the IP Portal is a major step forward for Lao PDR’s intellectual property ecosystem. By fostering an environment that supports innovation and creativity, and attracts foreign investment, this portal provides businesses with the legal tools to protect their intellectual property. We are confident that this portal will undoubtedly drive a culture of ingenuity and propel Lao businesses onto the global stage,” said MOIC deputy director general Saybandith Sayavongkhamdy.

USAID acting country representative to Laos Elizabeth Chambers commended the Lao PDR government, especially the MOIC, for taking the initiative in bolstering the IP framework and resources. “Proper IP management and protection help Lao businesses to safeguard their unique products, processes, and brands, which can be critical in boosting their competitiveness in domestic and international markets,” she said. “USAID is proud to partner with MOIC to improve the business environment, foster innovation, and advance investment in Laos, creating jobs and rebuilding Laos’s economy.”

Strong intellectual property laws boost Lao companies and draw in international investment. This in turn promotes technological transfer, employment development, and general economic growth. Protecting intellectual property rights, promoting innovation, drawing capital, and accelerating economic growth will all be made possible via the IP Portal.

- Excel V. Dyquiangco