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INSIGHTS THIS MONTH

February 2023

HIGHLIGHT OF THIS MONTH

Vietnam – Maximizing Benefits from Investment Incentives

Vietnam investment regime provides for a broad range of various business incentives. However, the regime of benefits and eligibility criteria are set out in very many laws, regulations and...

Regulatory Update on the Implementation of the Competition Law

[From our Cambodia Office]

On 5 October 2021, the Royal Government of Cambodia issued the Law on Competition (“Competition Law”) with the aim to provide a more fair...

Notification No. 5367 GDT dated 14 February 2023 issued by the General Department of Taxation on “2022 Market Interest Rates for Loans”

[From our Cambodia Office]

The General Department of Taxation (“GDT”) issued a notification announcing the 2022 market interest rates for loans. The rates were determined by calculating the...

Foreign companies are added to the exemption list of mandatory forex conversion

[From our Myanmar Office]

The Foreign Exchange Supervisory Committee (“FESC”) decided to grant foreign companies an exemption from mandatory forex conversion in its meeting no.78/2022. In this regard,...

Circular No. 03 dated 22 February 2023 issued by the Foreign Exchange Policy Department of the Bangladesh Bank on “Raising of the Limit for Declaration on Form C of Inward Remittances”

[From our Bangladesh Office]

Aiming to facilitate inward remittances, the threshold for having to declare inward remittances on Form C has been raised from US$10,000 to US$20,000 or...

Circular No. 01 dated 7 February 2023 issued by the Foreign Exchange Operation Department of the Bangladesh Bank on “Funds Endorsed against a Traveler’s Passport”

[From our Bangladesh Office]

The Bangladesh Bank has instructed authorized dealer banks and money changers to verify the amount of foreign currency a customer has spent against their...

RECENT VDB LOI WORK

Wind power acquisition in Bangladesh: VDB Loi Bangladesh is advising a major Chinese wind power generation company on its acquisition of a wind project in Bangladesh.

Financial services advisory in the Lao PDR: The Lao team is advising the lender, a major bank in the country, on the restructuring of a project finance agreement.

Global shipping lines choose VDB Loi: A number of global shipping lines have engaged VDB Loi Cambodia to handle their tax matters in Cambodia.

Tax services in Myanmar: The Tax team is providing tax audit services for a major regional power company in Myanmar.

M&A transaction in the energy sphere: The Vietnam team assisted on the Vietnamese aspects of a global M&A transaction involving a renewable energy company.