The 2005 Law on Tourism restricts foreign investment in some tourism-related activities, including in and transnational tour operator activitity which is reserved to joint ventures with domestic investors.
"[...] For the business of transnational guided tours, the State permits foreign legal entities to jointly invest with domestic investors. Foreign individuals or organisations shall not be permitted to conduct certain tourism business reserved for Lao citizens, [such as]: the tour guide profession, the business of domestic guided tours, the tour business in a specific area, guesthouses, and daily room services. Detailed regulations on [obtaining] permission for investment and establishment of tourism enterprises in the Lao PDR by foreign individuals or legal entities are separately stipulated" (Art. 64, Law on Tourism, 2005)
Law on Tourism No.10/NA, of 09 November 2005, Art. 64.
Notification 1328/MOIC, List C 02-2015
[<a href="https://www.vientianetimes.org.la/Laws%20in%20English/62.%20Law%20on%20Tourism%20(2005)%20Eng.pdf">Law</a>],[<a href="http://www.laotradeportal.gov.la/kcfinder/upload/files/MOIC_1328_2015_Eng.pdf">Notification</a>]