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Cambodia: Cambodia Concludes Agreement with Philippines on Double Taxation

Cambodia and the Philippines have recently finalized the Double Tax Agreement between the two nations, aimed at improving trade and simplifying investment mechanisms.

Vietnam: Twin Transition in Vietnam's Financial Sector - Green and Digital Transitions

Vietnam's financial institutions are increasingly feeling the impact of environmental, social, and governance (ESG) factors on their risk assessment, capital allocation, and governance structures. This update discusses the policies steps that could be taken.

Vietnam: Update on the implementation of the Law on electronic transactions regarding digital signatures

In this update: Decree No. 48/2024/ND-CP issued by the Government on amending and supplementing certain provisions of Decree No. 130/2018/ND-CP dated 27 September 2018 detailing the implementation of the Law on electronic transactions regarding digital signatures and digital signature authentication services.

Transfer of Wind Power Projects To Foreign Businesses

The phenomenon of Vietnamese enterprises massively applying for wind power investment projects and then selling them back to foreign enterprises to make a profit has been warned before, but now the project transfer market is even more bustling.

Procedures for Operation Registration of Rooftop Solar Power System

According to regulations, a newly established enterprise must have business lines that are suitable for the operation of the rooftop solar power system and must be registered with the Business Registration Division of the Department of Planning and Investment in the locality.

Vietnam’s PDP8 Implementation Plan

On 1 April 2024, the Prime Minister of Vietnam (the "PM") issued Decision No. 262/QD-TTg on approving the plan to implement the National Power Development Plan for the period of 2021 – 2030, with a vision to 2050 (“Decision 262”), with immediate effect.

Myanmar: Barter Transaction Arrangement (BTA) Procedure

On 2 May 2024, the Department of Trade under the Ministry of Commerce of the State Administration Council introduced a new procedure for Barter Transaction Arrangements. This development could have significant implications for trade practices in Myanmar, potentially affecting how goods and services are exchanged without using currency.

Doing Business in Renewable Energy in Vietnam

Patent & Industrial Design Databases of Cambodia Launch

The databases of Cambodian patents and industrial designs were launched to the public on April 29, 2024. This is a very significant development, as information on applications and registrations were not yet consistently publicly available.

Vietnam: IPO Restructuring Insights

An IPO represents the pinnacle of achievement, enabling a company to access public markets and fuel further growth. Preparation is a key to success. Choosing the appropriate structure for an IPO can provide substantial benefits. This article shares some tips to maximize the chances of success.

Vietnam: Retrenchment Due to Changes in Structure, Technology – Potential Legal Risks to Consider

In this article, we intend to discuss difficulties potentially resulting in the potential legal risks regarding retrenchment and termination, particularly concerning the termination of labour contracts with affected employees due to changes in structure and/or technology.

Vietnam: The extensive use of PPP in Ho Chi Minh City infrastructure development!

Ho Chi Minh City, Vietnam's economic powerhouse, is charting a new course for infrastructural development through the extensive use of Public-Private Partnerships (PPPs). This decisive shift toward PPPs is underpinned by Resolution 98, a ground-breaking policy experiment providing HCMC with unprecedented authority to design and implement PPP projects.

Vietnam’s Potential for Sustainable Development and Investment: Green & Blue Bonds

This whitepaper navigates the Global Green Bond Market, exploring opportunities to close the gap, challenges, and solutions for a green bond market in Vietnam.

Malaysia: Updates to the Beneficial Ownership Reporting Framework

As of 1 April 2024, the provisions concerning beneficial ownership reporting, as outlined in the amendments to the Companies Act 2016 through the Companies (Amendment) Act 2024*, have come into effect. The Companies Commission of Malaysia has launched the Electronic Beneficial Ownership System and updated the Guidelines for the Reporting Framework for Beneficial Ownership of Companies (“Revised Guidelines”).

Myanmar: Key Changes under the SAC’s 2024 Union Tax Law

On 29 March 2024, the State Administration Council (“SAC”) enacted the Union Taxation Law 2024 (Law No. 23/2024 or “2024 UTL”), which clarifies the tax rates and procedures for income tax, commercial tax, specific goods tax, and gemstone tax in Myanmar. The law is effective on 1 April 2024 or the start of the financial year 2024-2025.

Cambodia: Prakas 089 on Real Estate Development Business Replaced by New Prakas No. 047

To implement Sub-Decree No. 50 dated 2 March 2023 on the Management of Real Estate Development Business, the Non-Bank Financial Services Authority issued Prakas No. 047 on 26 September 2023. This Prakas outlines the rules and procedures for issuing real estate development business licenses/permits.

Myanmar: MIC Removed the Classification for 100% Export-Oriented Investments

On 5 April 2024, the Myanmar Investment Commission (“MIC”) issued Notification 8/2024, which revokes a 2017 notification regarding the classification of investment businesses exporting 100% of their products from Myanmar. This revocation takes effect immediately upon the issuance of the notification.

DFDL Commentary on BEPS 2.0 – Inclusive Framework Report on Pillar One – Amount B

The OECD/G20 Inclusive Framework on BEPS agreed to the Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy in October 2021. Read our summary and commentary on Pillar One – Amount B.

The New Land Law 2024 – Notable Amendments To Legal Regulations On Industrial Zone Land In Vietnam

In this post, we highlight some key changes to regulations on industrial zone land under the new Land Law 2024.

Vietnam: Authorisation In Opening And Using Bank Account Of Representative Office

While it is common in practice for the Chief Representative of a Representative Office (RO) to act on behalf of the RO in opening and using the RO's bank account, there are instances where the parent company may wish to authorize another person (Authorized Person) to handle these matters.