Article 30: This law shall come into force 60 days after its ratification.

Upon the entry into force of the present law, the foreign investment law of the Lao People's Democratic Republic No. 07/PSA dated 19 April 1988 shall cease to have effect, without prejudice to the rights and privileges granted to, and the obligations imposed upon, foreign investments under the law No. 07/PSA

Notwithstanding this provision, a foreign investor which received its license under the prior law may elect to petition the FIMC in writing, within 120 days of the coming into force of this law, to become subject to the terms of this law. The FIMC may grant such petitions at its discretion. For a foreign investor whose petition is granted, the right and benefits previously granted, and the obligations previously imposed under the law No. 07/PSA shall thereafter prospectively cease to have effect.

Article 31: The Government of the Lao PDR shall, by decree, issue detailed regulations for the implementation of this law.