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Vietnam: Potential Issues for Vietnamese Bondholders When Bond Issuer Are In Default

Bond issuers, who wish to recover the principal and coupons and to enforce their rights, could face significant legal issues. In this post, we will discuss some of these issues.

Vietnam: Role of Bondholders’ Representative under Vietnamese Law

A bondholders’ representative is defined in Decree 155/2020 as a depository member of the Vietnam Securities Depository or a fund management company which is appointed or selected to “represent” the bondholders’ interests. However, it is not clear whether the bondholders’ representative is a legal representative or an authorized representative of the bondholders.

Vietnam: New regulations on interest rates and trading of corporate bonds

In this update: 1) New regulations on refinancing interest rate, rediscounting interest rate, and interest rate of overnight lending, 2) Reducing short-term lending interest rates of credit institutions, foreign bank branches, 3) Regulating the offering and trading of corporate bonds.

Vietnam: Comments on Draft Vietnamese Land Law 2023

In recent months, the Government has published the draft Land Law 2023 and asked for public comments. In March 2023, Venture North Law submitted to the Ministry of Natural Resources and Environment our comments to the draft . The comments are contributed by Nguyen Quang Vu, Nguyen Bich Ngoc, Nguyen Hoang Duong and Ha Kieu Anh. 200 pages long.

Cambodia: Decision on Pre-Notification Thresholds for Business Combinations

Cambodia: New Regulation on Forms and Formalities for Food Recall

On 22 February 2023, the Ministry of Commerce (“MOC”) issued Prakas 080 on the Form and Formalities for Recalling Unsafe and Non-compliant Food to set out the procedure for recalling unsafe and non-compliant food from the market and/or consumers in Cambodia.

Myanmar: Key Changes under the SAC’s 2023 Union Tax Law

On 30 March 2023, the State Administration Council enacted the 2023 Union Tax Law, which clarifies the tax rates and related procedures concerning income tax, commercial tax, and specific goods tax. This new law is effective on 1 April 2023 or the start of the new financial year 2023-2024 in Myanmar.

Myanmar: New Requirements for Newly Incorporated Companies for Annual Returns

The Directorate of Investments and Company Administration (“DICA“) announced on 1st April 2023 regarding the additional requirements when the annual return is submitted by the companies to DICA within two months after registering their company under the Myanmar Companies Law, to better combat Anti-Money Laundering and Terrorism Financing.

Myanmar: Trademark Registration Grand Opening Scheduled for 26th April 2023

The opening of trademark registration for old and new trademarks will be launched on 26th April 2023. A mark intended for use without actual use in the Myanmar market will also be accepted. A new mark not in use at the time of registration will have to be used within three years from registration.

Myanmar: Notification Setting out Service Fees for Mark Registration Application

On 1 April 2023, the Intellectual Property Rights Agency issued the Notification that sets out service fees for mark registration applications via Notification No. 1/2023 as per the Section 106 (d) of the Trademark Law with the approval from the Ministry of Commerce to implement the Trademark Law of 2019 (“Law”) and the Mark Registration Rules of 2023.

Vietnam: Overview of international trademark registration

The registration for trademark protection in the market, especially the foreign market helps to protect the trademark’s owner and creates a basis for handling trademark infringement, limiting copying or negotiating a licensing agreement, franchise agreement or other agreements. This article will demonstrate some issues for trademark registration abroad.

PNG: Changes to the Companies Act: Re-registration

On 1 December 2022, the Companies (Amendment) Act 2022 (the Amendment) came into operation and started the clock ticking for all existing companies to apply for re-registration by 1 December 2023, or risk being de-registered. But there is a hidden trick to re-registration. In this Insight, we explore what this means.

Vietnam: Is it possible to settle the disputes related to IP rights by Commercial Arbitration in Vietnam?

Recently, international commercial arbitration tends to broadly accept the settlement of disputes related to intellectual property (“IP”) rights by Arbitration. However, in Vietnam, the regulations on the jurisdiction of Commercial Arbitration over the disputes related to IP rights are not clear.

Donation of an enterprise’s properties and notes under Vietnamese laws

Vietnam: Reducing land rental and water surface rental for subjects affected by the Covid-19 pandemic

Vietnam: Obligation to pay value-added tax when providing services abroad

The Tax Department of Hanoi City issued Official Letter No. 4423/CTHN-TTHT dated 09 February 2023 on the value-added tax obligations when implementing projects abroad. Accordingly, the Tax Department responded to the Official Letter re CK Engineering Vietnam Co having problems determining value-added tax obligations when implementing a project abroad with the specific comments, as discussed in this update.

Thailand: Amendment of Thailand’s Labour Protection Act for Work-from-Home and Remote Working Arrangements

On 19 March 2023, the Labour Protection Act was published, effectively amending the Thai Labour Protection Act by adding a section to provide the requirements for work-from-home or remote working arrangement. This update outlines the new requirements.

Vietnam: Solutions for removing and promoting the real estate market’s safe, healthy and sustainable development

The Government issued Resolution No.33/NQ-CP dated 11 March 2023 on several solutions to remove difficulties and promote safe, healthy, sustainable development of the real estate market with some notable contents.

Vietnam: One-way money transfers from Vietnam to abroad, Circular 20/2022/TT-NHNN

The State Bank of Vietnam issued Circular No. 20/2022/TT-NHNN dated 30 December 2022 on guidelines for one-way money transfer from Vietnam to abroad and payment, money transfer for other current transactions of residents being organizations and individuals

Vietnam: Compensation by asset for employees working in dangerous, hazardous conditions

The Ministry of Labour – Invalids and Social Affairs (“MOLISA”) issued Circular No. 24/2022/TT-BLDTBXH dated 30 November 2022 regulating the compensation by asset for employees working in dangerous, hazardous conditions. The key provisions are discussed here.