The Government of the Lao People’s Democratic Republic (Lao PDR) can take justifiable pride in its accomplishments over the past three decades. Substantial economic reforms have led to high and sustained growth rates and rising overall living standards, although more still needs to be done to reduce poverty. The government aspires to graduate from least developed country status by 2020 – a significant ambition achieved by few countries. Foreign direct investment has played a key role in supporting economic development but domestic investment has also been strong. The government is engaged in a number of ambitious reforms to improve the business environment and further reap the benefits of investment, increasingly focusing on attracting responsible and sustainable investments. The newlyamended Law on Investment Promotion, which was being revised during the process of this Review, takes on board a number of OECD recommendations and is intended to be an important step forward.