PTD Draft Directive on Tariffs for Telecom Licensees (VDB Loi Insights This Month)

31
May
2018

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HIGHLIGHT OF THIS MONTH
From our Telecommunications, Media and Technology Team

PTD Draft Directive on Tariffs for Telecom Licensees

Telecom licensees in Myanmar have an obligation under their license to seek and obtain PTD approval for tariffs prior to launch of the relevant telecom services, pursuant to section 29 of the Telecommunications Law 2013 and Chapter 7 of the Competition Rules for Telecommunications Sector 2015.
 
IN THIS ISSUE
From our Banking and Finance Team

CBM Announcement – Credit Bureau

The Central Bank of Myanmar has issued a business license to Myanmar Credit Bureau Limited on 17 May 2018 to establish a credit bureau in the Republic of the Union of Myanmar. Read more…

New Minimum Wages

The National Committee for The Minimum Wage (the “Committee”) publicized a Notification on 2 January 2018 in which a new minimum wage of MM4,800 per day, calculated at a rate of MMK600 per hour, was proposed. Read more…

From our Corporate M&A Team

Re-register Your Company or Stop Your Business Activity

Directorate of Investment and Company Administration (“DICA”) has issued a draft of the Companies Regulations 2018 called Myanmar Companies (Electronic Registry System and Miscellaneous Matters) Regulations 2018 (“Regulation”) with a commencement date of 1 August 2018. Read more…
 

NEW MYANMAR LAWS AND REGULATIONS THIS MONTH
  • Law on Conservation of Biodiversity and Natural Sanctuaries/Reserves (Law no: 12/2018)
    Newly enacted for the implementation of 1973 Convention in International Trade in Endangered Species of Wild Fauna and Flora.
     
  • Law amending the Caste Disabilities Removal Act 1850 (Law no: 11/2018)
    Replacing the terms and definitions.
     
  • Bill on Law amending the State Budget Law
    Change on terms and definitions.
     
  • Bill on Bridges Law
    Change on terms and definitions
     
  • Bill on Myanmar Maternal and Child Welfare Association Law
    For implementation of Myanmar Maternal and Child Welfare Association and Family planning have to co-ordinate with Government and non-government organization and international organization.
    Change the Central Council Members formation.
     
  • Bill on Law amending the Audit Council Law
    In order to use safely and to develop the living standard of the citizen.
     
  • Notification on Minimum Wages (Notification no: 2/2018 of MOLIP)
    600 MMK per hour, 4800 MMK per day.
 
RECENT VDB LOI WORK
  • Another power plant sponsor hires VDB Loi: Our Energy and Infrastructure team was selected by an international power plant developer to take the lead in the procurement, planning and documentation for a thermal power plant in Myanmar.
     
  • Registered Myanmar’s first Association for Corporate Governance: our work in this area helped assist with changes to private-sector governance, where we advised on best standards and practice to help reform market investment in Myanmar.
     
  • Closing of a major finance agreement: The banking and finance team instructed in a major finance agreement between an international banking institution and an internationally-branded hospital.
     
  • Acting to advise on Myanmar’s changing insurance legislation: Initial discussions with local insurers regarding a potential joint venture with foreigner partners upon the anticipated liberalization of Myanmar’s insurance regulations.
     
  • Expert consultation regarding new Condominium Laws: VDB Loi’s Real Estate team provided extensive advice to various international investors and local real estate developers regarding the financing and structuring of condominium projects and their registration under the new condominium laws.
     
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.

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OUR UPCOMING EVENTS
FROM OUR CAMBODIA OFFICE
Developments in Commercial Arbitration in Cambodia
Cambodia’s regulatory framework in the area of alternative dispute resolution has developed considerably. In the last few years, Cambodia has seen the first foreign arbitral award successfully enforced by the Cambodian courts and has also seen the first completion of domestic commercial arbitration cases. These developments have given investors, both foreign and local, increased confidence that their investment projects in the country are safeguarded in the event of a commercial dispute.

Read more…

 
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