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14
Sep
2018
Energy and Infrastructure Myanmar Update 2018
On the 15 June 2018 the Ministry of Construction (“MOC”), in partnership with VDB Loi, organized a landmark conference on Public Private Partnerships for Toll Roads in Myanmar. The goal of the conference was to foster co-operation and understanding between the Government of the Union of Myanmar, the Myanmar private sector, and international investors.
31
Aug
2018
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.
31
Aug
2018
New Regs on government contracts (VDB Loi Insights This Month)
      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 […]
31
Aug
2018
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. The Notification contains a number of new elements that local and foreign […]
31
Aug
2018
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. Ministry officials signed the notice with the developers – Andritz of Austria, Kansai of Japan and High Tech Construction Trust, which is a subsidiary of Myanmar’s Shwe Taung Group – at […]
31
Aug
2018
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.
31
Aug
2018
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?
31
Jul
2018
Fintech in Myanmar (VDB Loi Insights This Month)
VDB Loi made the announcement of sponsoring the Myanmar Homegrown Mix Martial Arts fighter Phoe “Bushido” Thaw for the period of one year. The signing ceremony was held at VDB Loi office. Mr. Edwin Vanderbruggen, Senior Partner of VDB Loi stated that Phoe Taw demonstrates the warrior sprit which blends in with our value.
31
Jul
2018
Fintech in Myanmar
Under the Foreign Exchange Management Law (2012) (“FEML”), “foreign currency” includes postal orders, cheques, bank drafts, payment orders, traveller’s cheques, letters of credit, bills of exchange, and promissory notes, coins and currency notes which are not in MMK.
31
Jul
2018
New Rules on Sanitizing Bank Overdrafts in Effects
In July 2017 the Central Bank of Myanmar (“CBM”) introduced a fresh set of four regulations (Notifications 16-19/2017 pertaining to capital adequacy, asset classification and provisioning, large exposures and liquidity ratio requirement respectively). Issued under the Financial Institutions Law 2016 (“Financial Institutions Law 2016”), for the most part these were reinforcements of the existing regulations […]
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