Legal and Tax Updates

The Vietnam Competition and Consumer Authority has released several documents related to the merger notification regime that was effectively implemented on 15 May 2020, the effective date of Decree 35. As the National Competition Committee has not yet been appointed, the documents clarify that, in accordance with its responsibility under Article 7.2 of the Law...

The COVID-19 global pandemic continues to rage and tenants in Cambodia are now looking carefully at whether this situation can be considered a force majeure event in order to seek a cessation or reduction of their rental payments. Read the analysis of our expert, Charles Amar (DFDL Cambodia Head of Real Estate Practice), now:  Construction...

On 11 March 2020, the World Health Organization (“WHO”) declared the outbreak of the novel coronavirus (“COVID-19”) as a pandemic. The spread of the virus accelerated rapidly on a daily basis causing massive disruption to political, social, economic and financial structures across the entire world. The pandemic has spread across Myanmar resulting in compulsory quarantine...

Myanmar enforced the Insolvency Law (“Law”) on 25 March 2020 along with its implementing rules on 28 April 2020. The Insolvency Law repeals the Yangon Insolvency Act 1909 and the Myanmar Insolvency Act 1920. This paradigm shift from the age-old insolvency regime provides comprehensive, unified legislation dealing with personal, corporate, and cross-border insolvency. Unlike the...

The Board of the National Economic Development Authority (“NEDA”) of the Republic of the Philippines recently confirmed the approval by the Investment Coordination Committee (“ICC”) of various infrastructure projects. These projects are now available for implementation. DFDL’s collaborating firm in the Philippines, Ocampo & Suralvo Law Offices, is ready to assist potential investors, funders, EPC...

On 12 May 2020, the Insurance Business Regulatory Board (“IBRB”) issued Directive 4/2020 (“Directive”) to regulate reinsurance activities in Myanmar and is scheduled to be effective from 1 October 2021. This Directive seeks to render the administration of reinsurance activities as streamlined as possible and ensure adequate reinsurance coverage to protect policy holders, insurers and...

The Directorate of Investment and Company Administration (“DICA”) under the Ministry of Investment and Foreign Relations issued Notification 41/2020 on 9 May 2020 (“Notification”) whereby 810 companies incorporated under the Myanmar Companies Law 2017 (“MCL”) were struck off and removed from the register of companies. From its effective date, this Notification targets those companies that...

The Lao PDR has introduced its first Civil Code. After over 6 years of consultation and drafting the Civil Code (№ 55/NA, 6 December 2018) (“Civil Code”) was published on the Government Gazette on 11 May 2020 and will come into effect 15 days thereafter, being 26 May 2020. The Civil Code is a comprehensive...

In March 2020, the Insurance Business Regulatory Board (“IBRB”) issued a set of directives to regulate the insurance sector in Myanmar. This legal alert discusses the changes introduced by the IBRB and the implications that these directives hold for the insurance sector. 1. Directive for the Approval of Insurance Products (“Directive 1”) Through Directive 1,...

As the COVID-19 crisis continues with no immediate end in sight, real estate and construction remains one of the hardest hit sectors. Supply chain interruptions, material shortages, work site closures, employee reductions, social distancing measures and curfews have drastically disrupted commercial operations and continue to impact project developments. In this publication we outline the latest...