New Regs on government contracts (VDB Loi Insights This Month)

31
Aug
2018

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HIGHLIGHT OF THIS MONTH

Edwin Vanderbruggen discusses Myanmar’s growing power needs with Channel News Asia

In light of the recent dam flooding in central Myanmar, Edwin Vanderbruggen discusses Myanmar’s opportunities for new hydropower projects in the country. As the government has improved environmental, social and safety standards around power projects, the country has started to attract new kinds of investors and partnerships that could help alleviate these kinds of disasters.

 
IN THIS ISSUE
From our Taxation Team

Ten Ways to Make Myanmar’s Tax Environment More Attractive for Foreign Investment Without Losing Any Tax Revenue

The slogan of the Dutch tax authorities is “We can’t make it more fun, but we can certainly make it easier”. A fair, easy, predictable and efficient tax system is an important factor in attracting foreign investment. Read more…

From our Corporate M&A Team

Corporate Compliance: Is DICA’s Anti-Corruption Code of Ethics an extension to Myanmar anti-corruption regulation?

No sooner was the Myanmar Companies Law passed its effective date of August 1, 2018, when the Directorate of Investment and Company Administration (“DICA”) the company regulator in Myanmar, published an announcement on ‘Anti-corruption Code of Ethics for Companies and Body Corporates’ (the “Code”). But what exactly does the Code herald for businesses? Read more…

From our Energy and Infrastructure Team

New notification on government contracts outlaws lack of termination provisions

In June the President signed a new notification issuing guidelines to government departments and organizations in relation to the execution of international convention and ‘commercial contracts.’ The notification was published in the gazette last month, and aims to codify existing internal governmental practices. Read more…

With input from our Energy and Infrastructure Team
Ministry issues notice to proceed for Deedoke hydro project


The Ministry of Electricity and Energy has issued a notice to proceed to the developers of the 60-megawatt Deedoke hydropower project in Mandalay Region.
Read more…
 

NEW MYANMAR LAWS AND REGULATIONS THIS MONTH
  • Revenue Appellate Tribunal Board Law 2018
    Formation of the revenue appellate tribunal board and the procedure on the hearings of the revenue appellate tribunal, the rights and obligations of the revenue appellate tribunal board.
     
  • Notification 41/2018 ( dated- 1 June 2018) of the President Office, Guidelines to comply in the execution of agreements
    Applicable for the Agreements between union level government organization, department of union ministries, state and regional level government organizatons, ministry departments of the state and regional governments, CDC, government departments, university, colleges AND Foreign countries, departments and organizations of foreign countries, international organizations, international non-government organizations, NGOs.
  • Bill on Law amending the Bar Council Act
    Formation of Bar Council and its members.
     
  • Bill on Law amending the Public Debts Management Law
    Replacing on financial year only.
     
  • Bill on Law amending the Myanmar Engineering Council Law
    Changes on formation of Myanmar Engineering Council, on number of members, on qualification and on thier rights.
     
  • Bill on Union Tax 2018-2019
    Newly drafted for the coming financial year which will start from 1st October 2018 to 30 September 2019.
     
  • Bill on Educational Researches, Planning and Training Law
    Newly drafted for the national education development.
 
RECENT VDB LOI WORK
  • Global consortium assisted in building port infrastructure: VDB Loi’s Energy and Infrastructure Team provided structuring advice to a global consortium building a port and civil infrastructure to support offshore oil and gas projects. VDB Loi advised on MIC compliance and establishment issues.
     
  • Major telecommunications company eyes the region, and Myanmar for business: The Telecoms, Media and Technology Team prepared a market entry report for a global telecommunications company, seeking entry into Myanmar and other South East Asian Countries.  The report comprehensively detailed the regulatory, procedural and technical issues the company faces in Myanmar, and advised on the best strategies for entry.
     
  • Yangon Expressway proposal benefits from VDB Loi’s guidance: Lawyers in the Energy and Infrastructure Team drafted and prepared documents for the qualification stage of the Yangon Expressway project. The expressway is expected to be one the most significant infrastructure projects in Myanmar, providing an elevated highway through Yangon, and the team helped draft and review documents for the tendering process.
     
  • Global finance company utilizes VDB Loi’s expert guidance: The Banking and Finance team acted for a global client bringing offshore funds into Myanmar to fund a local MFI company.
     
  • Oil and Gas company choses VDB Loi for due diligence on its Myanmar operations: VDB Loi conducted a due diligence report for a global oil and gas company, seeking to review its assets and operations in Myanmar. The report was prepared as a means providing data for the company’s prospectus, as it prepares to list as an IPO on overseas stock exchanges.
     
  • VDB Loi favored by local telecommunications tower company: The firm’s Telecoms, Media and Technology Team drafted a master lease agreement for a major telecommunications tower company, assisting with labor and tax compliance issues.  The Team also assisted in preparing documents for MIC registration.
     
SEE OUR PROGRESS IN 2017
Check out the impressive progress our practice made last year:

  • Our MIC team remains a very strong performer with 25% of the total MIC permits obtained through the firm.
     
  • We advised several of the largest LNG projects under consideration, and was selected as local advisor by both the World Bank and the Japanese Government.
     
  • We were selected as local counsel on the IFC program to create the hydropower model PPA.
     
  • We advise mobile network operators, 4G LTE operators, tower companies and a wide range of ICT companies in Myanmar.
     
  • We play a leading role in the Government’s forthcoming regulation on sovereign guarantees.
     
  • IFC selected our team after a competitive process to help jumpstart the documentation of PPP infrastructure projects.
     
  • We assisted an IFI with its investment in one of Myanmar’s largest cement plant companies.
     
  • Our tax team was at the forefront of various tax structuring works for multimillion-dollar projects.
     
  • Our dedicated dispute team and partners have acted on a wide range of high profiel litigation and arbitration cases.

You can download the full report here

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