Investment Funds Archives

On November 29, 2024, the National Assembly enacted the Law amending several articles of the Law on Planning, the Law on Investment, the Law on Investment under the Public-Private Partnership Model, and the Law on Bidding (“Law No. 57/2024/QH15”).

Law No. 57/2024/QH15 introduces substantial amendments and additions to the Law on Investment, set to take effect on January 15, 2025. The following outlines the key changes to the Law on Investment.

1. Two additional business sectors are now prohibited from investment, namely: Trading national treasures and Exporting relics and antiques.

2. The power to grant investment policy approval (“IPA”) for investment projects on construction and operation of infrastructure of industrial zones and export processing zones has been moved from the Prime Minister to the provincial-level People’s Committees.

3. Supplement provisions regarding the Fund for Investment Support:

The Fund for Investment Support is established by the Government, funded by additional corporate income tax revenue in accordance with legal regulations and other legal sources. Its purpose is to stabilize the investment environment, encourage and attract strategic investors, multinational corporations, and provide support to domestic enterprises in sectors requiring investment incentives. The operational model, legal status, annual budget sources, and other details will be defined and issued by the Government.

4. Supplement provisions regarding the special investment procedures:

The special investment procedures apply to investment projects in the fields of semiconductor industry and high-tech industry in industrial zones, export processing zones, high-tech zones, concentrated information technology zones, free trade zones, and functional areas within economic zones.

Notably, these special procedures remove the requirements for several key approvals, including IPA, technology appraisal, EIAR approval, 1/500 construction detailed master plan approval, construction permit, firefighting and prevention approval. As a result, investors can obtain an investment certificate within just 15 days after their application has been reviewed and approved by the relevant management board of an industrial park, export processing zone, high-tech park, or economic zone.

The key new provisions of Law No. 57/2024/QH15 are expected to create favorable conditions for investors, attract both domestic and foreign capital, and stimulate national economic growth.

The information provided here is for information purposes only and is not intended to constitute legal advice. Legal advice should be obtained from qualified legal counsel for all specific situations.

Baongoc Nguyen

Senior Legal Adviser

Vietnam

Bangladesh is on the rise! With a booming economy and a strategic location in South Asia, it presents a wealth of opportunities for investors.

DFDL’s Bangladesh Investment Guide 2024 equips you with everything you need to navigate this exciting market.

Why Invest in Bangladesh?

Impressive growth trajectory: Bangladesh boasts a near 7% annual growth rate.
Strategic location: Ideally situated in South Asia, Bangladesh offers access to vast regional markets.
Booming infrastructure: Investments are pouring into electricity, transport, and telecommunications, creating a strong foundation for business.
Investor-friendly environment: Bangladesh offers a competitive FDI regime, making it an attractive destination for foreign investment.

DFDL’s guide provides:

Actionable insights on navigating regulations, legal frameworks, and cultural considerations.
Expert guidance to ensure a smooth investment journey.

Download your free copy today and unlock the potential of Bangladesh!

Shahwar Nizam

Partner, Managing Director, Bangladesh

Bangladesh

HUSK was founded in 2017 in Cambodia by Heloise Buckland and Carol Rius and produces biochar (a carbon-like byproduct of organic waste materials), carbon-based fertilizers and crop protection products, offering innovative solutions to local farmers. The company has received a USD 5 million capital injection from Mekong Capital, a leading Private Equity fund in Vietnam, which will help fuel its product development and its regional expansion.

DFDL advised Mekong Capital on the transaction, including legal due diligence and advice on regulatory approvals. The DFDL team included partners, Chris Robinson and Vansok Khem, Soromnear Sin and Davin Hor.

On May 3rd, Han Kun Law Offices (Singapore)’s webinar shone a spotlight on the vibrant investment climate of Indonesia, featuring Jade Hwang, Foreign Counsel at Nusantara DFDL Partnership.

Jade’s presentation, titled “Investing in Indonesia: Opportunities and Challenges,” offered a comprehensive exploration of the region’s investment landscape. She navigated through the opportunities awaiting investors while addressing the complexities and challenges they may face.

Her talk provided a roadmap for potential PRC investors, highlighting strategic approaches to harnessing Indonesia’s growth potential. The session proved invaluable for attendees seeking to understand and engage with Indonesia’s diverse market.

Jade Hwang

Foreign Consultant

Indonesia

We’re delighted to invite you to a collaborative webinar hosted by DFDL and Law Purpose (律意), focusing on Foreign Direct Investment in Thailand and China: Current Opportunities and Challenges.

Missed this webinar? Watch the full recording on YouTube.

As the global economy is reshaping, many international companies are bexamining how to expand or restructure their operations in Asia. In recent decades, China and Thailand have formed complementary locations for manufacturing, logistics and retail sectors to serve the APAC markets; they undoubtedly remain attractive destinations for investment despite constantly evolving challenges. The purpose of this presentation is to provide investors with updates and insights on how to navigate regulatory hurdles and reap all the benefits that these markets have to offer.

This webinar is part of a series of events marking the 30th anniversary of DFDL.

Date: Thursday 9 May, 2024
Time: 15:00 – 17:00 (Bangkok Time) and 16.00 – 18:00 (Beijing Time)
Platform: MS Teams (link to be provided to registered participants)
Language: English
Cost: Free

Who should join: Companies seeking to explore investment opportunities in Thailand and China.

Speakers:

Kraisorn Rueangkul, Partner, DFDL
Feng Jin, Legal Business Partner, Law Purpose

Agenda:

a.) Overview of the Thai Regulatory System: Benefits and typical challenges for foreign businesses

Introduction to Foreign Direct Investment Regulatory Regime.
FDI Investment Promotion by the Thai Government
Structuring options for foreign companies
Key Issues on Employment and Employment of Foreigners.

b.) Investment in China: Evolving Challenges, Opportunities & Legal Issues

Why Invest in China: challenges and opportunities
Foreign Investment Regulations & Market Access Restrictions
Intellectual Property Protection (AIGC)
Labour and Employment Laws
Corporate Governance and Others

Join us as we explore investment opportunities and navigate the legal landscape in Thailand and China.

Missed this webinar? Watch the full recording on YouTube.

We are pleased to announce that DFDL is extending its PRC network of collaborating firms through a cooperation agreement with Leaf, a distinguished law firm renowned for its expertise in Greater China, and offices in Shanghai, Beijing and Paris. Leaf’s Sino-European team has been recognized for its expertise on cross-border M&A transactions, corporate finance and fundraising. Leaf also has a significant cybersecurity and data protection law practice complemented by a team of technical experts. This collaboration initiative will strengthen DFDL’s European Desk and allow us to join a hub of professionals to coordinate work for Asian projects from Europe, both inbound and outbound, with a primary focus on European clients.

Established in 1994, DFDL is a leading international legal, tax and investment advisory firm with a robust presence across South-East Asia, boasting twelve offices across 10 countries including Bangladesh, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam. DFDL and Leaf are multi-awarded law firms highly recognized for their knowledge and understanding of the legal and regulatory landscapes within their respective markets.

We are looking forward to this cooperation to expand our business horizons and, most importantly, to ensure that we continuously deliver seamless service to our valued clients.

For additional information, please feel free to contact Guillaume Massin ([email protected]) and Bruno Grangier ([email protected]).

Guillaume Massin

Partner, Head of EU Desk

Cambodia, Thailand

DFDL is pleased to invite you to an exclusive Breakfast discussion on Wednesday 20^th March, from 8:00am to 10:00am, to explore the regulatory frameworks and investment opportunities in Indonesia, Malaysia and Vietnam, three key ASEAN markets that have become strategic for the outbound expansion of Thai businesses.

Leveraging on its regional footprint across ASEAN, DFDL will be welcoming four experts: Sri Ningsih (Partner, Nusantara DFDL Partnership, Indonesia), Afriyan Rachmad (Partner, Nusantara DFDL Partnership, Indonesia), Robin Teow (Managing Partner, Robin Lynn & Lee (in collaboration with DFDL), Malaysia), Hanh Tran (Co-Managing Partner, Vietnam).

They will provide an overview of Indonesia, Malaysia and Vietnam’s regulatory framework for foreign investments, share updates and answer questions from the audience in an open Q&A format. Our Thai experts will also share their experience on coordinating the regional expansion of Thai companies, covering key challenges and best practices.

It is a great opportunity for Thai companies to gather knowledge and prepare their strategic development to foreign markets of ASEAN. We look forward to welcoming you on 20^th March!

This event is free for business executives and in-house counsels. You will receive a confirmation email upon registration at the above register button.

Jack Sheehan, Partner and Head of the Regional Tax Practice Group at DFDL explores the key tax issues and opportunities for structuring investments in Vietnam. He examines the international tax planning aspects of structuring investments in Vietnam, including the Vietnamese tax rules applicable to cross-border dividends, interest, royalties, and service fees; Vietnamese anti-abuse rules; Vietnam’s tax treaty network; the taxation of capital gains on direct and indirect transfers of shares in Vietnamese companies; and popular holding jurisdictions for structuring investments in Vietnam.

Jack also discusses recent international tax developments regarding the OECD base erosion and profit shifting project and Pillar 2 Global Anti-Base-Erosion rules in Vietnam.

Jack Sheehan

Partner, Head of Regional Tax

Lao PDR, Myanmar, Thailand

On 28 August 2023, the Directorate of Investment and Company Administration’s (DICA) website released an official announcement to the public. The central focus of this announcement is the commencement of Part (2) of the investment supervisory system. The primary objective of this phase is to streamline the process of online applications for investors who intend to conduct business activities subsequent to obtaining permits under the Myanmar Investment Law 2016 (MIL) and Myanmar Investment Rules 2017 (MIR).

This initiative is designed to facilitate the application process for investors by leveraging an online platform. The procedure involves a comprehensive review by departmental officers, who will then offer online feedback regarding any necessary requirements. Furthermore, these officers will be responsible for granting necessary approvals and providing recommendations to the investors. All proceedings will be meticulously documented and maintained for future reference.

The specific applications this new system covers include requests for the appointment of foreign experts, as approved by the Myanmar Investment Commission (MIC). This aligns with the guidelines outlined in Section 51 (a) of the MIL and Rule 206 of the MIR. Additionally, the system encompasses applications related to the expansion of the list of employees and the submission of resignations of foreign experts who were previously granted permission for appointment by the MIC.

To facilitate the application process, the announcement features a website link that leads to the designated application submission portal. Effective from 1 September 2023, applicants will have the option to utilize this link to submit their applications online. During the trial period, applicants are also encouraged to submit hard copies of their applications in conjunction with the online submission.

To assist applicants in navigating the online submission process, a detailed step-by-step guide has been included in the announcement. This guide offers clear instructions on how to utilize the provided links for online application submission effectively.

Nishant Choudhary

Partner and Managing Director, Myanmar | Head of Regional Dispute Resolution

Partner and Managing Director, Myanmar | Head of Reg ...

Cambodia, Myanmar