2019 saw a diverse range of legislation coming into force across the core jurisdictions where DFDL operates. These notably included new (or proposed) public-private partnership laws in Thailand and Vietnam, along with more robust data protection provisions in the Philippines and Thailand, and new legislation governing construction, consumer protection and trusts in Cambodia.
Competition regulations and anti-monopoly rules also saw a significant boost with a new law in Vietnam, and the establishment of the Competition Authority in the Lao PDR.
Another notable trend throughout ASEAN was greatly strengthened worker rights and their ability to form unions and pursue collective action remedies along with the implementation of more comprehensive taxation rules to bring certain countries’ tax regimes into alignment with international laws, OECD norms and anti-treaty shopping provisions.
As Southeast Asia continues to grow and as new disruptive technologies have started making their presence felt, legislators have been racing to adequately regulate new technologies, financial services and electronic transactions. This has also necessitated putting into place more stringent measures to protect consumers and safeguard their private data. This momentum is widely expected to persist throughout 2020 as ASEAN countries’ regulatory frameworks become increasingly sophisticated, not only to keep apace with new developments but also to reassure foreign investors and encourage more inward investment so crucial to fuelling the growth of this dynamic region.
2020 will see new tax laws come into force in Vietnam and the Lao PDR, fintech legislation in Thailand, new Cambodian tax treaties expected to be ratified, and a new petroleum law due to be enacted in Myanmar to name but a few.
This publication will provide a country-specific overview for your ease of reference.
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.
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