Will the Government Insist on MMK Tariff for PPAs?” (VDB Loi Insights This Month)

2
Oct
2017

   
 
HIGHLIGHT OF THIS MONTH
From Our Energy and Natural Resources Team
 
Myanmar Kyat or Us Dollar for Power Purchase Agreements: Will the Government Insist on Myanmar Kyat Tariffs?
One of the many challenges facing private investors in public infrastructure in Myanmar is, increasingly, the currency issue. The Myanmar Kyat (MMK) has been in a slow but steady decline against the US$ since 2014. Read more…
 
 
IN THIS ISSUE
From our Energy and Natural Resources Team
 
The Dam Law of 2017

The new Dam Law of 2017 (the “Law”) is only pertaining to the duties and rights of the authorities, maintenance and protection of dams, compliance before construction of dams, preventive measures for overflow of water, and payment of compensation to land losers. Read more…

Myanmar LNG Update 2017

On 9 September 2016, the Myanmar Ministry of Electricity and Energy (MOEE), through the Myanmar Oil and Gas Enterprise, (MOGE), published a request for Expressions of Interest for the “bulk supply and or terminal of LNG in Myanmar”.
Read more…

Producing and Exporting Gas: Myanmar Legal and Tax Developments

Myanmar is a country rich in resources and potential which currently has 16 onshore blocks and 19 offshore blocks in production. The offshore Yadana (TOTAL, Chevron and PTTEP) and Yetagun (Petronas, PTTEP) natural gas projects started production in 1998 and 2000 respectively under gas sales contracts to the Thai state oil company PTT.
Read more…

VDB Loi Voices Optimism on New Power Deals at Euromoney Conference

On September 13th, VDB Loi participated in the 5th Euromoney Myanmar Global Investment Forum in Nay Pyi Taw. Edwin Vanderbruggen was featured as the keynote speaker on the electricity panel, which addressed a number of concerns among the business community in this rapidly expanding sector.
Read more…

From our Infrastructure, Real Estate and Construction Team
 
VDB Loi releases updated report “Investing in Myanmar’s Real Estate Sector”

As Myanmar continues its rapid modernization and development, opportunities for investment in the real estate sector have grown exponentially. With a population of over 50 million, 70% of which have little to no access to modern infrastructure, Myanmar will demand large increases in investment in both the short and long term to approach the standards of its neighbors in ASEAN. Real Estate development is one of the most promising sectors for growth and this report aims to provide extensive background and information for interested foreign investors. To accomplish this, the real estate sector will be examined primarily from a legal and regulatory framework perspective.
Read more…

Government Will Soon Start to Accept Proposals for 3 Tendered Airports

A “market sounding meeting” was held on 29 September to exchange some preliminary ideas on the Government’s tender for the Heho, Mawlamyine and Kawthaung Airports. The Government had earlier launched tender application forms which were available for purchase. Some 50 to 60 companies had purchased the set per airport, with most of the interest going to Heho. Read more…
 

 
NEW MYANMAR LAWS AND REGULATIONS THIS MONTH
  • Irrigation Law (Law no: 27/2017)
    New regulations pertaining to the creation and administration of irrigation systems and also water distribution for irrigation.
     
  • Law Amending the Telecommunication Law (Law no: 26/2017)
    Amendment to section 66D regarding social media users with changes to fines and punishment for infractions.
     
  • Law Amending the Christian Marriage Act (Law no: 25/2017)
    Changes have been made on administrative terms, for example, Registrar of Marriage is now referred to as Registrar of Birth, Death and Marriage.
     
  • Law Amending the Divorce Act (Law no: 24/2017)
    Changes to age of marriage and on Court names.
     
  • Law Amending the Guardians and Wards Act (Law no: 23/2017)
    Changes to Court names and on fines.
     
TENDER ANNOUNCEMENTS
  • MOEE releases tender invitation for electric power generation and distribution in Kawthaung, Kawthaung District, Tanintharyi Region. Read more…
 
SEE OUR PROGRESS IN 2016

We wish you a prosperous and productive 2017! Check out the impressive progress our practice made last year:

  • An astounding 25% to 33% of the approved (MIC) investments in Myanmar obtained MIC permits through VDB Loi.
     
  • We were involved in 5 out of 7 power projects signed in 2016!
     
  • We created exclusively dedicated practice teams as well as launched new ones, such as Disputes and Energy.
     
  • We obtained licenses, permits and helped set up financial institutions, telecom operators, security firms, and airlines.
     
  • We built on our expertise acting for the Government in the petroleum products sector, our Energy Team was the obvious choice for additional engagements in fuel and fuel infrastructure in 2016.
     
  • We continue to have the confidence of the Government who engages us in a number of transactions in energy, transport, and telecom.

You can download the full report here

 

 
 
RECENT VDB LOI WORK
  • International Financial Institution selects VDB Loi two times out of two for drafting template Government contracts in infrastructure PPPs: A global IFI, assisting the Myanmar Government in the infrastructure area, has completed its selection process for international and local counsel to prepare template project documents for hydropower PPAs and toll road PPPs. In both cases, VDB Loi came out as the favorite. We are teamed up with two different international law firms to cover the international aspects of the new templates.
     
  • Midstream giant engages VDB Loi for fuel terminal project: Our energy team has been instructed by a multinational in the fuel logistics and marketing business to help with a transaction in Myanmar.
     
  • Hydropower consortium renews its engagement of VDB Loi: Going into the second phase of project development, VDB Loi was confirmed as the local counsel for a hydropower project by an international consortium. Our energy team had been assisting throughout the previous phases.
     
  • Disputes team hired on media lawsuit: Our litigators will be acting on a high-profile lawsuit involving a media outlet in Myanmar.
     
  • Aviation player retains VDB Loi on market entry plans: Our corporate team is assisting a regional aviation charter services provider on its planned market entry in Myanmar.
     
 
OUR UPCOMING EVENTS
  • Renewable Energy Myanmar 2017
    26th-28th October 2017, Yangon
 
WHAT OTHERS SAY ABOUT US
International publisher Chambers and Partners placed VDB Loi in a leading position among law firms in Myanmar and considers us, “A Versatile regional firm with a broad-based offering, consistently praised for its practicality”. Here are some of the things our clients told researchers:
  • “Working with VDB Loi accomplishes many things, from setting up a company, putting in place various commercial agreements, and looking after accounts and complex tax matters- all at one go.”
     
  • “For something really novel which requires thinking outside the box, VDB Loi would be our first port of call.”
Legal 500 has ranked us a tier 1 firm for our corporate M&A practice and states, “VDB Loi handles a range of corporate work, including finance arrangements and M&A deals, with a notable strength in public procurement matters.”

 

HOW IS OUR APPROACH DIFFERENT?
These 3 core values are why our clients choose us. Read about it here:

 
     
     
   
 
 
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