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30
Nov
2018
PFI: “Myanmar Reforms Sparks Major Projects Pipeline” (VDB Loi Insights)
Energy and Infrastructure Team PFI: “Myanmar Reforms Sparks Major Projects Pipeline” Myanmar is undertaking a series of reforms, both in terms of laws and policies, that strengthen the country’s attractiveness for energy and infrastructure projects.
30
Nov
2018
PFI: “Myanmar Reforms Sparks Major Projects Pipeline”
Myanmar is undertaking a series of reforms, both in terms of laws and policies, that strengthen the country’s attractiveness for energy and infrastructure projects.
28
Nov
2018
Prequalification Applications Submitted for The Yangon Expressway Project
A total of 12 prequalification applications have been received by the Ministry of Construction on 13 November 2018 for the first phase of the Yangon Elevated Expressway project. As expected, and given the size of the project, most of the applicants are consortia.
28
Nov
2018
Online registration of mortgages and charges becomes operational on MyCO
As of late last week, online registration of mortgages and charges on the new electronic companies’ registry system, Myanmar Companies Online (“MyCO”) has become operational. This is achieved using the prescribed ‘Form H’ to comply with the statutory requirements under Section 229 of the Myanmar Companies Law 2017 (“MCL”), whereby Myanmar companies are required to […]
27
Nov
2018
Commercial Tax Payment and Offset Timings
COMMERCIAL TAX PAYMENT AND OFFSET TIMINGS The Internal Revenue Department (“IRD”) has issued clarifications regarding Commercial Tax (“CT”) payment and offset timings. Clarification 2/2018 provides an explanation regarding CT payment timelines. CT charged to customers (“output CT”) is due the earlier of issuing invoice to customers or receiving payments. For example, if an invoice is […]
9
Nov
2018
Client Alert: Foreign Bank Branches Permitted to Extend Banking Services to Local Companies in Myanmar
In an exciting development, the Central Bank of Myanmar (the “CBM”) on 8 November 2018 issued Directive No. 6/2018 (the “Directive”) which grants permission to foreign bank branches to extend banking services to local companies wholly owned by Myanmar nationals. As the reader may already be aware, there are 13 foreign bank branches operating in […]
31
Oct
2018
Energy and Infrastructure Market: Our Latest Insights (VDB Loi Insights)
      HIGHLIGHT OF THIS MONTH From our Energy and Infrastructure Team Energy and Infrastructure Market: Our Latest Insights Myanmar is undertaking a series of reforms, both in terms of laws and policies, that strengthen the country’s attractiveness for energy and infrastructure projects. Many of these reforms, although they are crucial, are not widely […]
31
Oct
2018
Energy and Infrastructure Market: Our Latest Insights
Myanmar is undertaking a series of reforms, both in terms of laws and policies, that strengthen the country’s attractiveness for energy and infrastructure projects. Many of these reforms, although they are crucial, are not widely known outside of Myanmar. Highlights of this note Major Projects in the Pipeline Reform of the Project Procurement Process: the […]
31
Oct
2018
New labor law rules
The Ministry of Labour, Immigration and Population published the Leave and Holidays Rules (Notification 69/2018) and the Shops and Establishment Rules (Notification 68/2018) (the “Rules”) which implement the relevant laws. The Rules provide new forms for use by employers in lodgments to labor offices, and clarify entitlements relating to days off, public holidays, leave and […]
31
Oct
2018
Parliament to pass new law affecting upstream oil & gas sector
Parliament is currently debating a bill on petroleum exploration, drilling, and production, which is intended to apply to both offshore and onshore activities. The law will mainly repeal outdated regulations from the 1950s and intends to serve as a way of organizing the sector. The bill follows the long-awaited Mining Rules issued in February 2018 […]
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