The Lao government is working with well-established, private companies to develop a modern system of registration and an import-export database that will enable stronger management of importers and exporters.

The Lao national TV on Wednesday quoted Lao Minister of Industry and Commerce Malaythong Kommasith as saying that the flow of foreign currency would be more strictly managed through the banking system and more would be done to boost domestic production.

The Ministry of Industry and Commerce is working with the National Enterprise Database of the Enterprise Registration and Management Department to improve the automatic tax notification system of the Tax Department, Malaythong said.

This was aimed at streamlining and modernizing the management of import and export businesses and ensuring that all relevant information can be shared among state agencies.

The ministry completed the development of an online importer-exporter registration system on Nov. 1, and the next step is to further strengthen the regulation of imports and exports through the automatic tax notification system.

The ministry will link its information system to the Capital Flow Management System which the Lao central bank is currently developing.

"We expect to be able to link to this system when its initial development is complete and it is given a trial run next month," Malaythong said.

"At the same time, we will guide and encourage provincial and local levels of government and industry and commerce departments to participate in the implementation, monitoring and sharing of ideas to improve the implementation of new regulations," he added.