According to the circular, traders are now empowered to engage in import and export transactions through innovative counter-trade arrangements, eliminating the need for foreign currency payments. Counter-trade, a distinct approach to international trade, involves the exchange of goods or services instead of relying solely on cash transactions. This reciprocal agreement, often observed between countries with […]

The Bangladesh Parliament recently enacted the Offshore Banking Act 2024, aimed at bolstering the nation’s foreign currency reserves and attracting foreign investment. Under this legislation, non-resident individuals or foreign entities can now open offshore bank accounts upon obtaining a license from the Bangladesh Bank. Those already licensed need not apply for a new one. However, […]

为了将线下监控系统转变为线上监控系统，缅甸投资委员会（简称“MIC”）于2024年2月21日发布了通知（简称“通知”），宣布持有许可证或认可的公司将有更多时间重新注册并将数据录入新的缅甸投资在线（简称“MyinO”）系统。这也意味着与这些公司外国员工相关的申请的过渡期也延长了，允许截止日期2024年6月30日前，继续以纸质形式提交申请。 因此，无论您是考虑申请投资许可证，或已经拥有许可证，或打算为您的缅甸投资业务雇佣外国专家，以下是您需要了解的关键细节： 需要重新录入到系统的数据是什么？ 根据该通知，持有投资许可证的公司，必须确保重新输入所有与投资相关数据，包括许可证颁发日期后所做的任何活动或投资变更。 重新录入数据的过渡期是什么时候？ 数据重新录入和提交与公司外国员工相关的申请的过渡期从原定的截止日期2023年9月1日延长至2024年6月30日。此日期之后，所有外国员工任命申请只能通过MyInO系统进行提交。 所有投资许可证持有者都必须在MyinO系统中重新录入信息吗？ 虽然没有明确规定必须重新注册，但实际上，这对于申请处理是必要的，因为只有在投资数据录入系统后，才能进行后续的申请提交。 关于外国专家任命的申请如何提交？ 在过渡期间，所有与外国专家相关的事务，如任命外国专家（工作居留许可）、调整员工人数以及管理外国专家的辞职，仍然可以通过邮寄或现场递交，除此之外，还可以在重新录入数据后通过MyInO提交。然而，在过渡期结束后（即根据通告为2024年6月30日），此类外国员工任命只能通过在线提交进行。 如果不遵守通知的后果是什么？ 尽管投资公司在MyinO的数据重新录入并非强制性的，但如果未能这样做，将无法在线提交工作许可申请，也不再接受现场提交。因此，建议所有投资许可证持有者尽快重新录入信息，以免对公司业务运营造成延误，因为重新录入信息过程可能需要时间。 如果您有任何疑问或需要帮助，请联系您的VDB Loi专属顾问。

On 21 February 2024, the Myanmar Investment Commission (“MIC”) announced an extension of the deadline for companies holding MIC permits or endorsements to re-register and enter all their existing data into the new Myanmar investment online system (“MyInO”) to 30 June 2024. This also means an extension of the transition period for applications related to […]

On 7 March 2024, the Bank of the Lao PDR (“BOL”) issued Decision on the Management of Foreign Currency Revenue from Goods and Services Exports No. 333/BOL (“Decision 333”) to manage foreign currency revenue from export activities and build foreign currency flexibility into the banking system. Export operators are required to import the payments (in […]

Are your FY2023 financial statements (“FS”) and final annual profit tax (“Annual PT”) return ready for submission by the last business day of March 2024? To ensure a smooth FY2023 FS and Annual PT return submission by the last business day of March 2024, corporate taxpayers are required to prepare these documents beforehand: Documents Remark […]

Following where China has been spending and investing its Belt & Road Initiative (“BRI”) capital can provide FDI clues and reveal new opportunities in recipient countries. As infrastructure builds start to yield productive user cashflows and the need for subsequent support services arises, case studies for investment potential become apparent. In this new series, we […]

To streamline foreign trade finance and align with global market trends and prevailing interest rates, an annual all-in cost ceiling has been established. This ceiling will include a markup of 4% over the benchmark rate, such as the Secured Overnight Financing Rate (SOFR), Euribor, etc., and will apply to the respective foreign currency for short-term […]

In light of the decision made by the Monetary Policy Committee to curtail inflation, the effects of the policy’s interest rate increase have already been incorporated into the six-month moving average rate for treasury bills (“SMART”). To harmonize loan interest rates with the monetary policy and foster economic dynamism, the following guidelines will be adhered […]

In order to enhance the efficiency of offshore banking operations, a decision has been made to exempt banks engaged in offshore banking operations from the obligation to maintain a cash reserve ratio with the Bangladesh Bank. Additionally, offshore banking operations are now authorized to transfer funds to their domestic banking units without restrictions. This includes […]

VDB Loi ベトナムは、プロジェクトファイナンスガイドの最新版を発行いたしました。 本出版書では、ベトナムにおける国境を越えたプロジェクトファイナンスの実施に関連し、最も頻繁に提起される仕組みに関する質問をいくつか取り上げています: 事業会社設立の手続き、融資と担保の文書化、税金に関する問題など。

VDB Loi越南办公室发布了最新版本的项目融资指南。该指南概述了在越南实施跨境项目融资过程中最常遇到的结构性问题：公司架构、融资和担保文件、税务影响等方面的要点。

The Bank of the Lao PDR (“BOL”), aiming to improve and strengthen its foreign currency management and monitoring system, issued the Decision on Foreign Currency Management in Connection with Foreign Direct Investment No. 1225/BOL dated 21 December 2023 (“Decision 1225”). Under the decision, foreign investors are required to open a foreign direct investment bank account […]

VDB Loi Vietnam has issued an updated version of the Project Finance Guide.   The overview covers some of the most frequently raised structuring queries relating to implementation of cross-border project financings in Vietnam: corporate arrangements, finance and security documentation, tax implications. Please contact Ms. Le Thi Thanh Thuy at [email protected] to request a full […]

Until further instructions, the following procedure must be followed for financial and regulatory reporting of the Government of Bangladesh Special Purpose Bonds issued to various banking Institutions for subsidies on fertilizer and electricity:

Under this circular, the Bangladesh Bank is directing financial institutions to establish revenue accounts in the name of funded projects to ensure effective loan repayment and proper monitoring. The impetus for this was that the Bangladesh Bank found that some borrowers were not depositing their project earnings or sales proceeds with their respective banks. This […]

The Bangladesh Bank is incorporating the Chinese Yuan (“CNY”) into its real-time gross settlement (“RTGS”) system. Presently, the RTGS system facilitates clearing and settlement in five foreign currencies—namely the US dollar, the British pound, the euro, the Canadian dollar, and the Japanese yen. Starting from 4 February 2024, the clearing and settlement processes for the […]

On 25 December 2023, the Central Bank of Myanmar (“CBM”) issued Notification No. 27/2023 to reduce the time frame for the inbound remittance of export earnings. Previously, under Notification 27/2022 dated 6 May 2022, the CBM required that export earnings from goods exported to Asian countries be deposited into exporters’ bank accounts within 45 days, […]

On 5 December 2023, the Central Bank of Myanmar (“CBM”) announced, through its letter no. 1/2937 (“Letter 1/2937”), that it will no longer determine the foreign exchange rate on foreign currency transactions made through authorized dealer (“AD”) banks via the foreign exchange online trading system. Consequently, sellers and buyers are now free to determine the […]

In a move to enhance offshore banking in Bangladesh, scheduled commercial banks can now actively participate in offshore banking operations (OBOs) by obtaining approval from the Bangladesh Bank. The comprehensive guidelines, approval procedures, and operational protocols for OBOs, including the acceptance of foreign currency (FC) deposits, are meticulously outlined in BRPD Circular No-02  dated 25 […]