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Vietnam: Rising Cybersecurity Concerns in Vietnam Prompt Prime Ministerial Directive

Vietnam: Technical Update - April 2024

This technical update covers: Decree No. 96/2023/ND-CP on the Law on Medical examination and treatment. decree No. 10/2024/ND-CP regulating high-tech zones, circular No. 22/2023/TT-NHNN on the State Bank of Vietnam amending Circular No. 41/2016/TT-NHNN on capital adequacy ratios, and others.

Vietnam: New draft regulations on electricity generation tariffs and model power purchase agreements

In this Insight we: 1) provide an overview of regulations on the electricity generation tariff, 2) recap the key principles of the pricing mechanism, 3) explain the key changes under the draft circular on determining electricity generation tariffs and power purchase agreements; and 4) outline the considerations and actions Government still needs to take.

Malaysia: Keeping up with Growing Cyber Threats and Intrusions – Malaysia’s Cyber Security Bill 2024

Cambodia: IP Protection

Strong IP protection is essential for encouraging local and international businesses to invest in research and development, knowing that their creations and innovation will be safeguarded. This article all forms of IP protection in Cambodia.

Vietnam: Key insights into draft Electricity Law and PDP8 Implementation Plan

In a significant step towards strengthening Vietnam's power security, the Ministry of Industry and Trade has released a draft amendment to the Electricity Law. In this Insight, we unpack key new provisions affecting offshore wind projects in the Electricity Law Draft and PDP8 IP.

Malaysia Legal Alert: 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 following provides an overview of the updated reporting framework.

Cambodia: Environmental Trusts Under The Coe of Environment and Natural Resources

An Environmental Trust was introduced by the Code of Environment and Natural Resources promulgated in 2023. The purpose of an ET is to encourage environmental protection, sustainability, and conservation. The implementation of ETs will commence from the beginning of July 2024.

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: Types of Trusts, Trust Registration, and Trust Licences Under The Cambodian Trust Law 2019

The Law on Trusts was promulgated in 2019 to manage trusts which are established in Cambodia. The trust law determines not only the rules and procedure for the establishment, registration, management and control of financial trusts, but also of all types of trusts established in Cambodia.

Vietnam: Land Law 2024 – Some Takeaways For Vietnamese Residing Overseas

This article provides some highlights of the land use scheme applicable to these two groups of land users: (i) Vietnamese citizens and (ii) persons of Vietnamese origin.

Vietnam: Significant Amendments Of Law On Tendering 2023

On 23 June 2023, the National Assembly adopted the new Law on Tendering effective from 1 January 2024. In an effort to foster a more competitive market, the Law on Tendering 2023 introduces significant amendments regarding the scope of application, methods, and procedures for selecting tenderers and investors. This post will summarize some notable changes in the Law on Tendering 2023.

Vietnam: Requirement For Pricing Information In The Application For An M&A Approval Could Cause Troubles To Investors

From February 2024, companies and foreign investors applying for a contribution of capital or purchase of share/capital contribution by the foreign investor must state the actual price of proposed transfer, instead of the estimated transfer price as previously. This is a critical change and discussed in this update.

Vietnam: How Agreements On ROFO, ROFR, Tag Along And Drag Along Could Work In A Multiple Member Limited Liability Company In Vietnam?

The table in this update sets out the potential inconsistencies between agreements on ROFO, ROFR, Tag Along and Drag Along and the transfer procedures under Article 52 of the Enterprise Law 2020.

Vietnam: New National Action Plan in Relation to Virtual Assets and Virtual Asset Service Providers

Recently, the Prime Minister issued Decision No. 194/QD-TTg regarding the implementation of the national action plan to fulfil the commitments of the Government of Vietnam on anti-money laundering, counter-terrorism financing, and proliferation of weapons of mass destruction.

Vietnam's new Land Law offers project developers more certainty and new complexities

The new Land Law aims to improve efficiency of land management and use in Vietnam and introduces significant changes impacting both domestic and foreign investors using land in Vietnam. This Insight highlights some of the key changes, with a focus on issues of note for energy and infrastructure project development.

Vietnam: Some notable changes in the new Law on Land

Following the passing of the Law on Real Estate Business 2023 (please refer to our previous NewsBrief for updates on this law), the National Assembly also passed the Law on Land No. 31/2024/QH15 (“LOL 2024”), which will become effective on 1 January 2025 and replace the current one.

Vietnam: Top 10 Considerations for Mergers and Acquisitions in the Renewable Energy Sector in Vietnam

In this article, we share the top 10 considerations for M&A in the renewable energy sector in Vietnam, covering topics such as legal and regulatory framework, investment incentives, transaction structure, local partner, timing, debt, permits and approvals, due diligence, and more.

Vietnam: The Impact Of Precedent No. 69/2023/Al On Non-Compete Agreements In Labour Relations

On 01 October 2023, the Supreme People’s Court issued Decision No. 364/QD-CA to announce 07 new precedents, including Precedent No. 69/2023/AL on the jurisdiction of Commercial Arbitration in resolving confidentiality and non-compete agreement disputes.

Lao: Guidance on VAT Obligations for Digital Goods and Services, Digital Platforms, and E-commerce has been Published

On 14th February 2024, the Ministry of Finance released a new instruction dealing with the VAT obligations for foreign suppliers of digital goods and services, digital platforms, and e-commerce to users in Laos. The new rules will apply to transactions starting from 1st August 2024; with registration open on 1st March 2024.