eOASIS - Rajah & Tann Singapore LLP

COVER STORY CAMBODIA CHINA INDONESIA LAO PDR
MALAYSIA MYANMAR PHILIPPINES SINGAPORE THAILAND VIETNAM
CHINA Significant Developments in China's Treatment of Foreign Investment – Implementing Regulation of Foreign Investment Law Comes into Effect on 1 January 2020 On 1 January 2020, the Implementing Regulation on the Foreign Investment Law of the People's Republic of China ("Implementing Regulation"), which was promulgated by the State Council of the People's Republic of China on 26 December 2019, came into effect. This follows the promulgation of the Foreign Investment Law of the People's Republic of China ("PRC Foreign Investment Law") on 15 March 2020 (which has come into effect since 1 January 2020). According to Premier Li Keqiang, "the Implementing Regulation aims to further strengthen the market-oriented business environment governed by a sound legal framework, and to reassure foreign investors and businesses regarding fair competition." More
CAMBODIA Cambodia and South Korea Sign Agreement for the Avoidance of Double Taxation (DTA) The Construction Law Enters into Force on 3 November 2019 The Law on E-Commerce Promulgated The Law on Consumer Protection Comes into Operation on 2 November 2019 CHINA Significant Developments in China's Treatment of Foreign Investment – Implementing Regulation of Foreign Investment Law Comes into Effect on 1 January 2020 China New Cryptography Law Comes into Force on 1 January 2020 An Upgrade in Free Trade – China-Singapore Free Trade Agreement Upgrade Protocol Comes into Force INDONESIA Welcoming Indonesia's E-Commerce Regulation: A Snapshot Supreme Court Decision a Blow to Restructuring after PKPU Wading Through Indonesia's New Water Resources Law New Merger Control Regulation: Asset Acquisitions Subject to KPPU Notification and Update to New Merger Control Regulation LAO PDR Reducing Patent Application Pendency and Increasing Patent Quality in Lao PDR Laos, Singapore Further IP Cooperation to Accelerate ASEAN's Innovation Growth MALAYSIA Central Bank of Malaysia Issues Exposure Draft on Licensing Framework for Digital Banks Anti-Fake News Act 2018 Officially Repealed MCMC Issues Final Report on Allocation of Spectrum Bands for Mobile Broadband Services in Malaysia Prospective Application of the Construction Industry Payment and Adjudication Act 2012 Malaysian Court of Appeal Confirms That Time for Delivery of Vacant Possession Starts to Run from Date of Sale and Purchase Agreement More MYANMAR Anti-Money Laundering Order and Supreme Court Announcement for Lawyers Online Trademark Registration, Online IP Agent System Offshore Remittance Business License Regulations PHILIPPINES The Philippine Stock Exchange Invites the Public to Comment on the Proposed Amendments to the Philippine Mineral Reporting Code Securities and Exchange Commission Promulgates the 2019 NPO Guidelines Extension of Registration Deadline for Operators of Payment Systems Granted by the Bangko Sentral ng Pilipinas (BSP) Intellectual Property Office of the Philippines Invites the Public to Submit Comments on the Draft Bill for the New Intellectual Property Act Amendment of Rules on Bond and Long-Term Negotiable Certificates of Time Deposit Issuance and Indefinite Moratorium More SINGAPORE Payment Services Act 2019 Effective from 28 January 2020 European Union-Singapore Free Trade Agreement Comes into Force on 21 November 2019 Court of Appeal Decision Addresses Important Jurisdictional Issues in Complex Cross-border Disputes Enforcement of Arbitral Awards – How Important is the Seat of Arbitration? THAILAND Provisions on Collection of Tax on Land and Buildings under the Land and Building Tax Act Take Effect on 1 January 2020 Thailand Trade Competition Commission's New Guideline on Franchising Business New Transfer Pricing Disclosure Form – Submission Required within 150 Days of FY End VIETNAM New Labour Code Draft Amending Decree on Non-Cash Payments Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice.

Rajah & Tann Regional Round-Up

your snapshot of key legal developments in Asia

Issue 4 - Oct/Nov/Dec 2019