VIENTIANE, Feb. 29 (Xinhua) -- Laos' Ministry of Planning and Investment has officially opened the Investment Tracking Application system to track and monitor investment permit applications and comments on related sectors, Lao national TV reported on Thursday.
Speaking at the ceremony, which was held on Feb. 21, Lao Deputy Minister of Planning and Investment Sthabandith Insisiengmay said the Investment Tracking Application is a tool that can help monitor comments and fast-track investment applications within the specified period.
Sthabandith said that the integration aims to increase efficiency by providing a faster, modern and transparent one-stop investment service.
The Investment Tracking Application system aims to promote domestic and foreign investments in the private sector, which have contributed significantly towards the socio-economic development of Laos, according to the report. ■
