The Impact of the 2019 Construction Law on Property Development in Cambodia (VDB Loi Insights)

30
Nov
2019

Share this:
 
INSIGHTS THIS MONTH
NOVEMBER 2019
 
Highlight of This Month / In This Issue / Recent VDB Loi Work / Recent Publications
HIGHLIGHT OF THIS MONTH
The Impact of the 2019 Construction Law on Property Development in Cambodia
by VDB Loi Cambodia Office
In the wake of the tragic and fatal building collapse in Sihanoukville June this year, the new and hotly debated Construction Law has come into force on 2 November 2019 and is now set to become a real factor which will take into account in a wide range of investment projects in Cambodia.

Don’t miss our Land Acquisition Update Seminar!
9.00am to 11.30am | 11th December 2019 | Pan Pacific Hotel, Yangon

The brand new law on the Land Acquisition, Resettlement and Rehabilitation is poised to drastically reform the way land can be released by the government for public purposes such as infrastructure projects. How has the process been reformed? Which new institutions are created and what do they do? How can project affected persons object, and when? Who has the last word on the compensation paid? In this unique briefing, we do not offer a legal analysis but rather a practical examination of the new rules. Based on our experience assisting land acquisitions and transfers on the ground, how do our experts think their law will impact projects?

Here are the highlights we will be covering.

  • Who determines the compensation and how?
  • How is the process supposed to work under the new law?
  • When are the public announcements made?
  • Who can start a land acquisition process? The government or the company?
  • Voluntary transfer of compulsory acquisition: what is best?
  • What happens if project affected person refuse the offer?
  • Do you need to convert first and acquire second, or the other way around?
  • Can the courts get involved under the new law?
  • How does the new law compare with the World Bank performance standard No.5?

We have also invited a diverse group of specialists and experienced professionals to be on the panel.

Please see below confirmed panelists.

Moderator

Mr.Edwin Vanderbruggen , Senior Partner of VDB Loi

Panelists

  • U Myo Min Htun, Assistant Director at the General Administration Department, Ministry of Union Government Office, Shan State Government
  • Ms. Eva Rossi, Environmental and Social Specialist at IFC
  • Ms. Vicky Bowman, Director at Myanmar Center for responsible Business
  • U Marc Maung, Manager at VDB Loi

IN THIS ISSUE
Taxation    
ミャンマーの電力・インフラ分野に外国投資を呼び込む 5つの提言
[From our Energy and Infrastructure Team] – Myanmar Office
電気がなければ仕事ができない。道路、港、鉄道がなければ移動できない。 電気などのインフラはミャンマーの大きな経済成長と国民繁栄への扉を開ける鍵である。電力事業、有料道路事業、水道事業、鉄道事業などへの投資を危険に晒したいと考える投資家はいない。
Financing    
New round of foreign bank licensing in Myanmar
[From our Banking and Finance Team] – Myanmar Office
On 7 November 2019 the Central Bank of Myanmar issued announcement confirming that a third round of foreign bank licensing will be initiated and opened to foreign banks with representative offices in Myanmar (the “Announcement”).
Taxation    
Myanmar reduces Stamp Duty penalties
[From our Taxation Team] – Myanmar Office
Stamp Duty (“SD”) is applicable on all chargeable instruments unless explicitly exempted under Schedule 1 of the Myanmar Stamp Act 1899 (“MSA”). Chargeable instruments mean documents that create, transfer, extinguish, or record rights or obligations and upon which governmental charges are collected in order to give legal effect thereto.
 

OUR UPCOMING EVENTS
 

 

RECENT VDB LOI WORK
Cambodia’s largest solar project: Our Energy Infratructure team has been selected to assist Cambodia’s largest solar project to date. Our team will be advising on structure, PPA and other project documents, land acquisition and financing. We are also mandated to secure all permits and licenses for the project.

Land acquisition services in overdrive: VDB Loi’s Land Acquisition team is running in overdrive to secure approvals for the project site of Myanmar’s latest energy facility. We are preparing land documents, assisting in negotiations and we secure land related approvals from authorities at several levels of Government.

Banking environment research: A European bilateral development agency has engaged VDB Loi to conduct research on the Myanmar banking regulatory landscape, and a review and sanction searches of four banks.

Major telecom infrastructure project: The TMT team is advising on the legal and regulatory aspects of the construction of a submarine fiber optic cable and data center.

Tax structuring advice in the mobile money space: The tax team is advising the client of a leading international accounting firm on the tax implications of structuring arrangements for the provision of payment solutions in relation to the sale of digital content.

Financing of a microfinance institution: Our Banking and Finance team has been assisting a European impact investor on its lending to a rural microfinance institution in Myanmar.

RECENT PUBLICATIONS
HOW IS OUR APPROACH DIFFERENT?

These 3 core values are why our clients choose us. Read about it here:


Download Our Approach
 

SEE OUR PROGRESS IN 2018
 

Check out the impressive progress our practice made last year:


Download

 

Share this:
Website Security Test