Notification No. 1327/DERM, List D 02-2015, establishes conditions on foreign participation (e.g. minimum registered capital and foreign ownerhsip limitations) in a number of activities. Included in this restriction is the operation of non-specialised retail wholesale activities: 1) a 100% foreign equity is allowed in investment projects with registered capital above 20 billion Lak; 2) up to 70% foreign equity is allowed in investment projects with registered capital between 10-20 billion Lak; 3) up to 50% foreign equity is allowed in investment projects with registered capital between 4-10 billion Lak; 4) projects with registered capital below 4 billion Lak are reserved to Lao nationals according to Notification 1328/MOIC, List C 02-2015.
In addition, the E-Commerce Decree broadly classifies e-commerce business activities into three forms: 1. Selling goods and services through one's own electronic means (a website, mobile application, or other program); 2. Selling goods and services on electronic marketplaces; 3. Operating electronic marketplaces. Both domestic and foreign persons (individuals, entities, and organizations) are allowed to operate all of the above forms of e-commerce businesses in the Lao PDR. However, certain discriminatory requirements apply for operating an e-commerce marketplace service (form 3) involving a foreign investor: Foreign equity shareholding of the legal entity cannot be more than 90% and the minimum registered capital required in case of foreign ownership (irrespective of the foreign ownership percentage) is LAK10 billion (US$1 million).
"List of Business Activities for Foreign Investors [with conditions]:
- Non-specialized wholesale trade [i.e. wholesale business] (minimum registered capital: 4-10 billion Lak, foreign equity participation limited to  50%; if registered capital is 10-20 billion Lak, foreign equity participation is limited to 70%; if registered capital is above 20 billion Lak, wholly-owned foreign investment is allowed)" (Notification No. 1327/DERM, List D 02-2015)
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"Business Activities Reserved for Lao Nationals (Revised): [...]
- Non-specialized wholesale trade (i.e. wholesale business with registered capital of less than 4 billion kip)" (Notification 1328/MOIC, List C 02-2015)
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"Article 16 Foreign investment
Foreign individuals or legal entities that intend to conduct electronic market services business in Lao PDR must have a registered capital of 10 billion or more and can hold a maximum of 90 percent of shares.[...]" (Decree on E-Commerce No. 296/GOV dated 12 April 2021 (the "E-Commerce Decree") [google translation])
Notification No. 1327/DERM, List D 02-2015
Notification 1328/MOIC, List C 02-2015
Decree on E-Commerce No. 296/GOV dated 12 April 2021 (the "E-Commerce Decree")
[<a href="http://www.laotradeportal.gov.la/kcfinder/upload/files/Notification1327_2015ENG.pdf">Notification</a>],[<a href="http://www.laotradeportal.gov.la/kcfinder/upload/files/MOIC_1328_2015_Eng.pdf">Notification</a>],[<a href="http://www.ned.moic.gov.la/News/ນິຕິກຳຂອງຂະແໜງການອື່ນໆທີຕິດພັນ/ດໍາລັດວ່າດ້ວຍການຄ້າ%20ທາງເອເລັກໂຕຣນິກ%20(296-ລບ)%20Decree%20on%20Electronic%20Commerce%20No.296%20-%20Reduced.pdf">Decree</a>],[<a href="https://www.vdb-loi.com/laos_publication/lao-pdrs-new-e-commerce-decree-what-to-look-out-for/">Other</a>]