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March 2024


What to Know About the Legal and Tax Implications of Official Development Assistance Projects in Cambodia

Briefly, a foreign business must register an entity in Cambodia in order to carry on a business, but it is not necessary to be in the form of a...


Semiconductors in Vietnam: How to Set Up a Manufacturing Subsidiary

[From our Vietnam Office]

Vietnam is emerging as a key player in Southeast Asia’s semiconductor scene. This article examines Vietnam’s regulatory developments and framework that strengthen and provide... 

New Announcement: The MIC Extends the Deadline for Permit and Endorsement Holders to Re-register in the New Myanmar Investment Online System

[From our Myanmar Office]

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... 

Investment in Cambodia

[From our Cambodia Office]

Following where China has been spending and investing its Belt & Road Initiative (“BRI”) capital can provide FDI clues and reveal new opportunities in... 

The Power of Forgiveness: How Cambodia is Offering Unprecedented Tax Savings for the Confession of Past Unpaid Taxes

[From our Cambodia Office]

Early in 2024, the General Department of Taxation (“GDT”) issued a new regulation to incentivize taxpayers to make revisions to their earlier tax returns.... 

Are Your FY2023 Financial Statements and Final Annual Profit Tax Return Ready for Submission

[From our Laos Office]

Are your FY2023 financial statements (“FS”) and final annual profit tax (“Annual PT”) return ready for submission by the last business day of March... 

Foreign Currency Revenue From the Export of Goods and Services

[From our Laos Office]

On 7 March 2024, the Bank of the Lao PDR (“BOL”) issued Decision on the Management of Foreign Currency Revenue from Goods and Services... 

Presidential Edict No. 003/P Dated 19 March 2024 – VAT Rate to be Reset Back to 10% in 2024

[From our Laos Office]

As we expected, Presidential Edict No. 003/P issued 19 March 2024 will reset the VAT rate of 7% that became effective less than two... 

2024 Union Tax Law and Its Key Takeaways

[From our Myanmar Office]

The annually enacted Union Tax Law (“UTL”) has been recently issued on 29 March 2024, applying to 2024 – 2025 Financial Year (“FY 2024... 

Branded Bottled Water and Edible Oil Manufacturers: Requirement to obtain FDA Food Production Certificates by 1 April 2024

[From our Myanmar Office]

On 4 March 2024, the Food and Authority (“FDA”) of the Ministry of Health issued Order No. 1/2024  (the “Order”) stipulating that manufacturers of... 

Empowering Energy Management: The Bangladesh Energy Regulatory Commission’s Grid Code Regulations for Enhanced Electricity Transmission

[From our Bangladesh Office]

The Bangladesh Energy Regulatory Commission recently released electricity grid code regulations to address the management of various aspects of Bangladesh’s electricity transmission system. Structure... 

Boosting Foreign Investment: Bangladesh’s Offshore Banking Act 2024 Unveiled

[From our Bangladesh Office]

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... 

Revolutionizing Trade: Bangladesh Introduces Counter-Trade for Foreign Exchange Independence

[From our Bangladesh Office]

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... 


Renewables project acquisition in Bangladesh: VDB Loi has been engaged to advise on the corporate, financial, and legal aspects of a potential acquisition of a rooftop solar project.

Successful tax ruling in Cambodia: The tax team successfully secured a ruling on a salary tax exemption for the expatriate staff of an international development project implementer in Cambodia.

Banking sector services in the Lao PDR: A regional player in financial leasing Chinese has engaged the Lao team to advise on and revise its contractual terms and conditions for financial leasing in the Lao PDR to meet the requirements set out in new Lao laws recently instituted.

Foreign exchange advice in Myanmar: A multinational communications and digital technology company has engaged VDB Loi to advise on foreign exchange issues in Myanmar to ensure its compliance with the country’s continually evolving regulations.

Cross-border acquisition in Vietnam: VDB Loi is advising and assisting a major Thai public finance company on all aspects of a cross-border acquisition of a Vietnamese finance company.