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Vietnam: Stay up-to-date on bidding forms for drug supply contracts!

According to the Law on Bidding 2023 (effective from 1 January 2024), Decree 24/2024/ND-CP (effective from 27 February 2024), and Circular 07/2024/TT-BYT (effective from May 17, 2024), the selection of drug supply contractors can be carried out through various forms.

Vietnam: What Are Suggestions for Amending The Pharmaceutical Law?

Following the publication of points by the Deputy Director of Drug Administrative of Vietnam, new points of the draft Pharmaceutical Law (amendment) are discussed in this update.

Vietnam Technical Update: June 2024

This update covers: Repealing circular No. 83/2014/TT-BTC on import VAT, Continuous enforcement measures towards VAT refund management, PIT obligations re the transfer of capital contributed in real estate, enforcement of tax management using Form 01/TNDN, and guidance on exit ban to legal representatives of businesses recorded with tax debt.

Vietnam: The right for foreign-invested economic organisations to access and use land in Vietnam under the Land Law 2024

On the basis of inheritance from and development of the regulations in previous land laws, the Land Law 2024 regulates the right for FI economic organisations to access and use land in a manner more expanded and equally accessible as to domestic economic organisations, ensuring the potential of the land is exploited the most in the market economy.

Vietnam's Renewable Energy Landscape Post-New Policy Implementation

The National Power Development Plan for the period 2021-2030, with a vision towards 2050 (PDP8), was officially announced by the Prime Minister of Vietnam on May 15, 2023. This significant development is expected to drive new waves of investment and growth in Vietnam's power market, particularly in the renewable energy sector, in the upcoming phase.

Vietnam: Decree on Cybersecurity Administrative Sanctions To Be Released Next Month

The Government unveiled the appraisal dossier for the draft Decree on Cybersecurity Administrative Sanctions, which will impose administrative penalties for violations in cyberspace, including personal data breaches. This legal alert provides key highlights of the CAS Decree, especially on personal data breaches.

Myanmar: Annual Tax Compliance Reminder for FY 2023-2024

Our Tax Team would like to remind you that the deadline for filing your corporate tax returns for the fiscal year ended on 31 March 2024 (“FY 2023-2024”) is approaching soon.

Vietnam: Over 600 drugs and 4 medical devices are eligible for price negotiation under Circular 05

As of May 14, 2024, the Ministry of Health has implemented Circular 05/2024/TT-BYT outlining the catalog of drugs, medical tools, and testing equipment acquired through price negotiation. This follows the enactment of the 2023 Law on Tendering, effective since January 2024.

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.

Vietnam’s PDP8 Implementation Plan

On 1 April 2024, the Prime Minister of Vietnam 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, with immediate effect.

Myanmar: FDA’s New Requirements for Food Product Code Registration

On 9 May 2024, the Department of Food and Drug Administration under the Ministry of Health announced a “Food Product Notification” following the 2022 “Labelling Order for Pre-packaged Foods” (“Order“). The Announcement aims to ensure proper food registration and assign food product codes to labels.

Myanmar: The New Minimum Reserve Ratio and Interest Rate on Average Excess Reserves Set by the CBM

On 30 April 2024, the Central Bank of Myanmar issued a new directive which primarily focuses on two aspects: the minimum reserve ratio that banks must maintain in Myanmar Kyat and the interest rate that the CBM must pay on average excess reserves maintained by the banks with the CBM.

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