This is sort of an old news. But Im not sure if anyone of you have read it before.
Does anyone here familiar with this new law? Is there some sort of a mechanism that regulates the extent of the would be investors right on land use? Lastly, how do you think will it impact local people?

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New law gives foreign investors land use rights
 
Vientiane Times, 5 Jan 2010
 
Amendments to the newly approved Law on Investment Promotion are
expected to encourage foreign investment in Laos by offering investors
land use rights.
 
Minister of Planning and Investment Dr Sinlavong Khoutphaythoune said
last week the law drafting committee had made the amendments with a
view to creating an investment environment that would attract more
local and overseas investment in Laos .
 
“We have completed the amendments and hope the president will
promulgate the law within one month,” he told Vientiane Times, adding
that local and foreign investors are waiting for the government to
enact the law.
 
The Lao National Assembly approved the revised investment promotion
law in July but was unable to put it into practice after concerns were
expressed over new investment incentives that allowed foreigners who
invest 2.5 billion kip (US$300,000) to have land use rights.
 
Their view was that investors had a lot of money and would buy
residential land use rights, causing the price of land to increase.
This would mean local people would be unable to own land use rights
because residential land would be unaffordable.
 
The government decided to amend the law in accordance with the
recommendations of the law makers.
 
A member of the National Assembly said it was possible for standing
members to amend the law even though the majority of assembly members
had already approved it.
 
Dr Sinlavong said the government decided to raise the minimum amount
invested for ownership of residential land use rights in Laos from US
$300,000 to US$500,000.
 
Foreign investors who met this requirement would only be allowed to
obtain residential land use rights in certain areas.
 
“ Vientiane and provincial authorities will decide on the areas where
foreign investors can obtain residential land use rights,” he said.
 
Investment Promotion Department Director General Houmpheng Soularay
said a foreign investor would be able to obtain land use rights for as
long as they continued to run a business in Laos .
 
Another investment official said the government's decision to use land
use rights as an investment incentive was to promote investment in
real estate development, adding that the government wanted to
encourage the building of houses but Lao people were often unable to
buy new properties.
 
She said the government wanted to encourage wealthy people to live in
Laos because they would also spend their money here.
 
A number of countries allow foreigners to buy property if they invest
a large amount of money in the country.
 
Investment officials said the government's policy to use residential
land use rights as an investment incentive was one of the best ways to
encourage investment in Laos , adding that many appreciate the
peacefulness here and wanted to live in the country.
 
They also said foreigners find Lao people to be very friendly.