Lao PDR - Arbitration Law and Practice in Asia
I. INTRODUCTION: ARBITRATION IN LAO PDR – HISTORY AND INFRASTRUCTURE
A. History and Current Legislation on Arbitration
1. Historical evolution of law relating to arbitration
In 1994, the Decree on Economic Dispute Resolution (No. 106/PM, 15 July 1994) was issued to set out the organization and activities of the Office of Economic, Business and Commercial Disputes Resolution with the stated purpose of educating business operators to comply with the law, to encourage business operations and to contribute to the expansion of the national economy. In 2005, the Law on Resolution of Economic Disputes (No. 02/NA, 19 May 2005) was issued to set out principles, regulations and measures regarding the resolution of economic disputes by mediators or arbitrators in order to ensure that economic disputes are solved fairly and speedily. In 2010, the Law on Resolution of Economic Disputes (No. 06/NA, 17 December 2010) was issued to replace the 2005 Economic Dispute Resolution Law. The 2010 Economic Dispute Resolution Law sets out the principles, regulations and measures regarding the organization, activities, management and inspection of the resolution of economic disputes in order to ensure that disputes are solved peacefully, fairly and speedily.
2. Current law
a) Domestic arbitration law
Mediation and arbitration proceedings that take place in the Lao PDR are governed by the Law on Resolution of Economic Disputes (No. 06/NA, 17 December 2010) (“Economic Dispute Resolution Law” or “Law”).