The document discusses M&A and capital market development in Vietnam. It provides an overview of M&A and FDI trends in Vietnam, noting increasing M&A deal values in recent years. It also identifies some impediments in Vietnam's investment environment like inconsistent regulations. Looking forward, the document predicts continued growth in Vietnam's economy and M&A/capital markets, driven by international trade agreements and reforms. Banking, real estate, and consumer goods are sectors expected to see ongoing M&A activity in the coming years.
Lawyer in Vietnam Oliver Massmann Lifting Foreign Ownership Limits in Public ...Dr. Oliver Massmann
The document discusses Vietnam scrapping foreign ownership limits in investments. Key points:
- Decree 60/2015 lifts foreign equity caps in publicly traded companies, allowing up to 100% foreign ownership. Previously, caps ranged from 30-49% depending on the sector.
- This removes a major restriction and opens more opportunities for foreign private equity investors to acquire majority stakes. It could enhance market liquidity and the privatization of state-owned enterprises.
- Implementation has begun for securities companies but guidance is still needed for other conditional sectors. Overall foreign ownership is still determined based on the sector and Vietnam's international treaties.
- Lifting caps is positive but limited state-owned enterprise stakes and lack
Investment Opportunities and Challenges in Vietnam and MyanmarDr. Oliver Massmann
This document discusses investment opportunities and challenges in Vietnam and Myanmar. It begins with an agenda that includes why and how to invest in Vietnam and Myanmar, upcoming key opportunities and sectors, and changes to Vietnam's investment environment. The document then provides details on Vietnam's growing economy and middle class. It discusses Vietnam's integration in regional and international agreements like the TPP, ASEAN, and EU agreements. The document outlines Vietnam's investment procedures, incentives, taxes, and labor laws. It concludes with a brief section on investing and doing business in Myanmar.
Myanmar - Legal and Tax Structure of Major Construction ProjectsDr. Oliver Massmann
This document discusses legal and tax structures for major construction projects in Myanmar. It provides an overview of land ownership types in Myanmar including freehold, grant land, and government leases. It also discusses licensing requirements for joint ventures, construction permits, and environmental impact assessments. Key terms for government leases and potential problem areas in construction contracts under Myanmar law are outlined. The document uses a case study of a construction company to illustrate investment licensing, procurement, and service fee structures.
Lawyer in Vietnam Oliver Massmann Impact of WTO Accession - An analysisDr. Oliver Massmann
The document discusses the impact of Vietnam's accession to the WTO in several key areas:
1. The economy experienced both opportunities in the form of increased trade and investment, as well as challenges in adapting industries to greater competition.
2. Specific industries like agriculture, manufacturing, and services underwent shifts towards higher technology and quality in order to compete internationally.
3. Socially, the accession created jobs but also increased inequality as some groups had more difficulty adapting to changes. Appropriate government policies helped address issues.
4. Compliance with WTO commitments and international trade law became important factors in Vietnam's policymaking and economic integration onto the global stage.
The document discusses M&A and capital market development in Vietnam. It provides an overview of M&A and FDI trends in Vietnam, noting increasing M&A deal values in recent years. It also identifies some impediments in Vietnam's investment environment like inconsistent regulations. Looking forward, the document predicts continued growth in Vietnam's economy and M&A/capital markets, driven by international trade agreements and reforms. Banking, real estate, and consumer goods are sectors expected to see ongoing M&A activity in the coming years.
Lawyer in Vietnam Oliver Massmann Lifting Foreign Ownership Limits in Public ...Dr. Oliver Massmann
The document discusses Vietnam scrapping foreign ownership limits in investments. Key points:
- Decree 60/2015 lifts foreign equity caps in publicly traded companies, allowing up to 100% foreign ownership. Previously, caps ranged from 30-49% depending on the sector.
- This removes a major restriction and opens more opportunities for foreign private equity investors to acquire majority stakes. It could enhance market liquidity and the privatization of state-owned enterprises.
- Implementation has begun for securities companies but guidance is still needed for other conditional sectors. Overall foreign ownership is still determined based on the sector and Vietnam's international treaties.
- Lifting caps is positive but limited state-owned enterprise stakes and lack
Investment Opportunities and Challenges in Vietnam and MyanmarDr. Oliver Massmann
This document discusses investment opportunities and challenges in Vietnam and Myanmar. It begins with an agenda that includes why and how to invest in Vietnam and Myanmar, upcoming key opportunities and sectors, and changes to Vietnam's investment environment. The document then provides details on Vietnam's growing economy and middle class. It discusses Vietnam's integration in regional and international agreements like the TPP, ASEAN, and EU agreements. The document outlines Vietnam's investment procedures, incentives, taxes, and labor laws. It concludes with a brief section on investing and doing business in Myanmar.
Myanmar - Legal and Tax Structure of Major Construction ProjectsDr. Oliver Massmann
This document discusses legal and tax structures for major construction projects in Myanmar. It provides an overview of land ownership types in Myanmar including freehold, grant land, and government leases. It also discusses licensing requirements for joint ventures, construction permits, and environmental impact assessments. Key terms for government leases and potential problem areas in construction contracts under Myanmar law are outlined. The document uses a case study of a construction company to illustrate investment licensing, procurement, and service fee structures.
Lawyer in Vietnam Oliver Massmann Impact of WTO Accession - An analysisDr. Oliver Massmann
The document discusses the impact of Vietnam's accession to the WTO in several key areas:
1. The economy experienced both opportunities in the form of increased trade and investment, as well as challenges in adapting industries to greater competition.
2. Specific industries like agriculture, manufacturing, and services underwent shifts towards higher technology and quality in order to compete internationally.
3. Socially, the accession created jobs but also increased inequality as some groups had more difficulty adapting to changes. Appropriate government policies helped address issues.
4. Compliance with WTO commitments and international trade law became important factors in Vietnam's policymaking and economic integration onto the global stage.
The document summarizes two avenues for foreign investment in Myanmar - under the Myanmar Companies Act of 1914 and the new Foreign Investment Law of 2012. It provides details on ownership structures, capital requirements, tax incentives, land use rights, application processes, importing equipment, labor laws, foreign exchange, and dispute resolution for each law. Key sectors like electricity generation, oil and gas, and upcoming investment summits are also overviewed.
This document provides recommendations to improve Myanmar's investment environment. It identifies challenges such as lengthy licensing processes, restrictive land leases of one year, high restrictions on financial transfers, and an ambiguous tax system. The author recommends that Myanmar develop more transparent licensing, simplify import/export rules, increase minimum land leases to 5 years, negotiate to drop financial transfer restrictions, merge the two investment laws, improve the tender process website, and offer a more attractive tax system to promote investment. The proposals aim to enhance Myanmar's competitiveness, regional integration, and economic growth.
The document discusses investment opportunities in Vietnam. It provides an overview of Vietnam's economy and growth rates in recent years. Vietnam has pursued many free trade agreements that have reduced restrictions and opened its markets. This integration into regional and global trade, combined with a young workforce and growing middle class, make Vietnam an attractive investment destination according to the document.
This document discusses an upcoming panel on M&A and restructuring processes in Vietnam's insurance industry. The panel will provide an introduction and overview of Vietnam's economy and insurance industry. Topics to be discussed include the impact of Vietnam's economic crisis, current M&A activity, factors leading to M&A decisions, and the impact of consolidation on individual companies and the industry. The document outlines Vietnam's growing but restructuring insurance market and economy as an investment opportunity with potential for foreign insurers.
Investing in Myanmar in the Context of the Asean Economic Community - How to ...Dr. Oliver Massmann
The document discusses foreign investment in Myanmar. It provides an overview of the country's economy and opportunities in key sectors like infrastructure, energy, telecommunications and mining. It outlines the forms of foreign investment allowed, including wholly foreign owned companies, joint ventures, branches and representative offices. Minimum capital requirements and restrictions on certain activities are also summarized. The presentation aims to help investors understand how to successfully invest in Myanmar.
8 Things You Should Know About Power Regulatory Reform in MyanmarDr. Oliver Massmann
This document discusses power sector regulatory reforms in Myanmar. It explains that reforms are aimed at protecting consumers, encouraging investment, and ensuring reliable power supply. It outlines the establishment of the Electricity Regulatory Commission to regulate the sector but notes more clarification is still needed around its powers and processes. The document also discusses licensing procedures, tariff determination, supporting regulations needed, the ability of foreign investors to participate in the sector and other legal issues relevant for power projects in Myanmar.
DUANE MORRIS VIETNAM ONLY FOREIGN LAW FIRM IN VIETNAM AWARDED WITH THE MERIT ...Dr. Oliver Massmann
Duane Morris Vietnam LLC was awarded the Merit Award from the Chairman of Hanoi People's Committee for its achievements in 2016. Duane Morris was the only foreign law firm in Hanoi to receive this award. It was recognized for fully complying with Vietnamese laws on legal practice, organization, taxation, and labor. Duane Morris also contributed significantly to the state budget over the past few years, provided legal services to many clients in various industries, and helped foreign investors enter the Vietnamese market.
VIETNAM’S BUSINESS ENVIRONMENT - Investment opportunities and challenges for...Dr. Oliver Massmann
The document is a presentation by Oliver Massmann of Duane Morris Vietnam LLC about investing in Vietnam. It provides an overview of Vietnam's economy, recent trade agreements including the EU-Vietnam Free Trade Agreement and TPP, and the business environment and investment opportunities in Vietnam. Key points covered include Vietnam's GDP growth, trade relations, incentives for foreign investment, and reduced restrictions on foreign ownership under new laws. Overall, the presentation aims to promote investing in Vietnam by outlining the country's economic reforms and integration into regional and global trade.
The document discusses investment opportunities in Vietnam's real estate sector. It notes that Vietnam has a rapidly growing economy and population that is urbanizing quickly, creating significant demand for residential and commercial real estate. Recent trade agreements are expected to further boost foreign investment in Vietnam and the real estate sector. The document advises that now is an opportune time for investors to invest in Vietnam's real estate market before competition increases.
LAWYER IN VIETNAM OLIVER MASSMANN VIETNAM M&A IN 2016 AND 2017 OUTLOOKDr. Oliver Massmann
This document summarizes Oliver Massmann's presentation on M&A trends in Vietnam in 2016 and the outlook for 2017. Some key points from the presentation include:
- Major foreign investors in Vietnamese M&A deals in 2016 came from Thailand, Japan, Korea, the US and Europe as they prepared for new trade agreements.
- Retail and real estate were the most active sectors in terms of deal value. Notable M&A deals included Central Group's acquisition of Big C Vietnam and TTC Holdings' acquisition of Metro Vietnam.
- Drivers of M&A activity in Vietnam in 2016 included the new Investment Law, Enterprise Law and implementing decrees which simplified procedures, as well as new trade agreements like the
VIETNAMESE MARKET ANALYSIS Practical and Legal PerspectiveDr. Oliver Massmann
The document is a presentation by Oliver Massmann of Duane Morris Vietnam LLC providing an overview of investing in Vietnam. It discusses why Vietnam is an attractive investment destination due to its strong economic growth rates and integration into regional and international trade agreements. Several key points are made about Vietnam's economy in 2015, its transition from a rice importer to exporter, and projected growth rates. The benefits of trade agreements such as the ASEAN Economic Community, EU-Vietnam Free Trade Agreement, and Trans-Pacific Partnership for Vietnam and foreign investors are also summarized.
Myanmar_ The Tax Guide to Investing in Myanmar _ Book 2 (ENG) Dr. Oliver Massmann
The document provides an overview of taxation and regulations related to foreign investment in Myanmar. Some key points:
- Myanmar's legal system is complex, based on a combination of colonial, parliamentary, and military government laws. The government is reforming taxation and investment laws.
- The 2012 Foreign Investment Law (FIL) supersedes prior investment laws and aims to promote foreign investment. It provides tax incentives to investors and allows up to 80% foreign ownership in joint ventures in restricted sectors.
- Special Economic Zones established under the 2011 Special Economic Zone Law offer tax exemptions and incentives to investors in designated areas for priority industries like high tech.
- Setting up business involves obtaining an investment permit from
Vietnam - New Investment Law, The TPP, AEC, EVFTA and Star Trek: Scotti: Bea...Dr. Oliver Massmann
This document provides an overview of Vietnam's new investment law and the opportunities presented by various trade agreements including the ASEAN Economic Community (AEC), the EU-Vietnam Free Trade Agreement (EVFTA), and the Trans-Pacific Partnership (TPP). Key points include simplifying investment procedures, liberalizing certain sectors, increasing market access through tariff reductions and services commitments, and establishing investor-state dispute settlement mechanisms.
- Vietnam's gambling industry is poised for expansion with four new integrated resorts planned and a trial allowing locals into casinos. This could position Vietnam as an alternative to Macau for gambling.
- Currently, only foreigners can legally gamble in Vietnam's casinos. Locals participate in illegal underground gambling or travel to Cambodia to gamble. However, new regulations may soon permit locals to access two integrated resorts on a trial basis.
- Vietnam's lottery market is growing, led by Vietlott which holds exclusive rights through 2034 following an investment deal with Malaysian firm Berjaya. Vietlott offers two games and is expanding its network of terminals nationwide.
Lawyer in Vietnam Oliver Massmann New Decree on Public - Private PartnershipDr. Oliver Massmann
This document contains a presentation by Oliver Massmann from Duane Morris Vietnam LLC given on January 4, 2017 in Hanoi about the new decree on public-private partnerships (PPP) in Vietnam. The presentation covers the general introduction of the new decree, positive changes introduced by the decree including broader application to new sectors, additional contract forms, changes to private capital requirements and government contributions, and selection of investors. It also discusses specific issues still needing clarification such as foreign currency convertibility, land use rights, and negotiation timeframes.
The document provides background information on the ASEAN-China Free Trade Agreement (ACFTA), the largest free trade agreement in the world. It discusses key details of the agreement such as tariff reductions, rules of origin, sensitive goods lists, and the dispute settlement mechanism. The document is intended to help businesses understand how to qualify for tariff preferences under the agreement and leverage the new market access opportunities between ASEAN countries and China.
This document discusses implementing power projects in Myanmar. It outlines key legislation related to state-owned enterprises, electricity, foreign investment, labor reform, and the environment. It describes the various government ministries and departments involved in the power sector and independent power producer (IPP) process. The document advises that experience navigating Myanmar's complicated legal system is important, and working with local partners and experienced advisers can help foreign energy companies develop power projects as IPPs in Myanmar.
The document discusses compliance issues that companies operating in Vietnam may face. It begins by outlining some of the key compliance areas such as competition law, employment law, anti-corruption laws, and highlights anti-corruption as the focus. It then provides details on whistleblower protections and how companies should handle whistleblower reports, including gathering evidence and potentially notifying authorities. Lastly, it discusses two specific compliance issues related to the case: price-fixing under competition law and bribery under anti-corruption laws.
This document provides an overview and comparison of foreign investment opportunities in Myanmar and Vietnam. It begins with brief profiles of each country and compares their economic statistics and development levels. While Myanmar and Vietnam both have potential for growth, Vietnam currently has more developed infrastructure and human capital. However, Myanmar may have more opportunities due to being a newer market and undertaking political reforms. The document discusses factors that make each country attractive, such as natural resources and population in Myanmar, and Vietnam's trade agreements. It concludes that which country wins foreign investment depends on their commitments to institutional reforms and openness.
New Battles in Southeast Asia for Foreign Investment: Myanmar v.VietnamDr. Oliver Massmann
This document provides a comparison of foreign investment opportunities in Myanmar and Vietnam. It begins with an overview of the basic economic and demographic statistics of each country. While Myanmar and Vietnam share some similarities as developing Southeast Asian nations, Vietnam currently has stronger infrastructure and human capital. However, Myanmar is pursuing political and economic reforms that have increased foreign investment since 2011. The document argues that both countries could succeed in attracting foreign investment depending on their commitment to further reforms and openness.
The document summarizes two avenues for foreign investment in Myanmar - under the Myanmar Companies Act of 1914 and the new Foreign Investment Law of 2012. It provides details on ownership structures, capital requirements, tax incentives, land use rights, application processes, importing equipment, labor laws, foreign exchange, and dispute resolution for each law. Key sectors like electricity generation, oil and gas, and upcoming investment summits are also overviewed.
This document provides recommendations to improve Myanmar's investment environment. It identifies challenges such as lengthy licensing processes, restrictive land leases of one year, high restrictions on financial transfers, and an ambiguous tax system. The author recommends that Myanmar develop more transparent licensing, simplify import/export rules, increase minimum land leases to 5 years, negotiate to drop financial transfer restrictions, merge the two investment laws, improve the tender process website, and offer a more attractive tax system to promote investment. The proposals aim to enhance Myanmar's competitiveness, regional integration, and economic growth.
The document discusses investment opportunities in Vietnam. It provides an overview of Vietnam's economy and growth rates in recent years. Vietnam has pursued many free trade agreements that have reduced restrictions and opened its markets. This integration into regional and global trade, combined with a young workforce and growing middle class, make Vietnam an attractive investment destination according to the document.
This document discusses an upcoming panel on M&A and restructuring processes in Vietnam's insurance industry. The panel will provide an introduction and overview of Vietnam's economy and insurance industry. Topics to be discussed include the impact of Vietnam's economic crisis, current M&A activity, factors leading to M&A decisions, and the impact of consolidation on individual companies and the industry. The document outlines Vietnam's growing but restructuring insurance market and economy as an investment opportunity with potential for foreign insurers.
Investing in Myanmar in the Context of the Asean Economic Community - How to ...Dr. Oliver Massmann
The document discusses foreign investment in Myanmar. It provides an overview of the country's economy and opportunities in key sectors like infrastructure, energy, telecommunications and mining. It outlines the forms of foreign investment allowed, including wholly foreign owned companies, joint ventures, branches and representative offices. Minimum capital requirements and restrictions on certain activities are also summarized. The presentation aims to help investors understand how to successfully invest in Myanmar.
8 Things You Should Know About Power Regulatory Reform in MyanmarDr. Oliver Massmann
This document discusses power sector regulatory reforms in Myanmar. It explains that reforms are aimed at protecting consumers, encouraging investment, and ensuring reliable power supply. It outlines the establishment of the Electricity Regulatory Commission to regulate the sector but notes more clarification is still needed around its powers and processes. The document also discusses licensing procedures, tariff determination, supporting regulations needed, the ability of foreign investors to participate in the sector and other legal issues relevant for power projects in Myanmar.
DUANE MORRIS VIETNAM ONLY FOREIGN LAW FIRM IN VIETNAM AWARDED WITH THE MERIT ...Dr. Oliver Massmann
Duane Morris Vietnam LLC was awarded the Merit Award from the Chairman of Hanoi People's Committee for its achievements in 2016. Duane Morris was the only foreign law firm in Hanoi to receive this award. It was recognized for fully complying with Vietnamese laws on legal practice, organization, taxation, and labor. Duane Morris also contributed significantly to the state budget over the past few years, provided legal services to many clients in various industries, and helped foreign investors enter the Vietnamese market.
VIETNAM’S BUSINESS ENVIRONMENT - Investment opportunities and challenges for...Dr. Oliver Massmann
The document is a presentation by Oliver Massmann of Duane Morris Vietnam LLC about investing in Vietnam. It provides an overview of Vietnam's economy, recent trade agreements including the EU-Vietnam Free Trade Agreement and TPP, and the business environment and investment opportunities in Vietnam. Key points covered include Vietnam's GDP growth, trade relations, incentives for foreign investment, and reduced restrictions on foreign ownership under new laws. Overall, the presentation aims to promote investing in Vietnam by outlining the country's economic reforms and integration into regional and global trade.
The document discusses investment opportunities in Vietnam's real estate sector. It notes that Vietnam has a rapidly growing economy and population that is urbanizing quickly, creating significant demand for residential and commercial real estate. Recent trade agreements are expected to further boost foreign investment in Vietnam and the real estate sector. The document advises that now is an opportune time for investors to invest in Vietnam's real estate market before competition increases.
LAWYER IN VIETNAM OLIVER MASSMANN VIETNAM M&A IN 2016 AND 2017 OUTLOOKDr. Oliver Massmann
This document summarizes Oliver Massmann's presentation on M&A trends in Vietnam in 2016 and the outlook for 2017. Some key points from the presentation include:
- Major foreign investors in Vietnamese M&A deals in 2016 came from Thailand, Japan, Korea, the US and Europe as they prepared for new trade agreements.
- Retail and real estate were the most active sectors in terms of deal value. Notable M&A deals included Central Group's acquisition of Big C Vietnam and TTC Holdings' acquisition of Metro Vietnam.
- Drivers of M&A activity in Vietnam in 2016 included the new Investment Law, Enterprise Law and implementing decrees which simplified procedures, as well as new trade agreements like the
VIETNAMESE MARKET ANALYSIS Practical and Legal PerspectiveDr. Oliver Massmann
The document is a presentation by Oliver Massmann of Duane Morris Vietnam LLC providing an overview of investing in Vietnam. It discusses why Vietnam is an attractive investment destination due to its strong economic growth rates and integration into regional and international trade agreements. Several key points are made about Vietnam's economy in 2015, its transition from a rice importer to exporter, and projected growth rates. The benefits of trade agreements such as the ASEAN Economic Community, EU-Vietnam Free Trade Agreement, and Trans-Pacific Partnership for Vietnam and foreign investors are also summarized.
Myanmar_ The Tax Guide to Investing in Myanmar _ Book 2 (ENG) Dr. Oliver Massmann
The document provides an overview of taxation and regulations related to foreign investment in Myanmar. Some key points:
- Myanmar's legal system is complex, based on a combination of colonial, parliamentary, and military government laws. The government is reforming taxation and investment laws.
- The 2012 Foreign Investment Law (FIL) supersedes prior investment laws and aims to promote foreign investment. It provides tax incentives to investors and allows up to 80% foreign ownership in joint ventures in restricted sectors.
- Special Economic Zones established under the 2011 Special Economic Zone Law offer tax exemptions and incentives to investors in designated areas for priority industries like high tech.
- Setting up business involves obtaining an investment permit from
Vietnam - New Investment Law, The TPP, AEC, EVFTA and Star Trek: Scotti: Bea...Dr. Oliver Massmann
This document provides an overview of Vietnam's new investment law and the opportunities presented by various trade agreements including the ASEAN Economic Community (AEC), the EU-Vietnam Free Trade Agreement (EVFTA), and the Trans-Pacific Partnership (TPP). Key points include simplifying investment procedures, liberalizing certain sectors, increasing market access through tariff reductions and services commitments, and establishing investor-state dispute settlement mechanisms.
- Vietnam's gambling industry is poised for expansion with four new integrated resorts planned and a trial allowing locals into casinos. This could position Vietnam as an alternative to Macau for gambling.
- Currently, only foreigners can legally gamble in Vietnam's casinos. Locals participate in illegal underground gambling or travel to Cambodia to gamble. However, new regulations may soon permit locals to access two integrated resorts on a trial basis.
- Vietnam's lottery market is growing, led by Vietlott which holds exclusive rights through 2034 following an investment deal with Malaysian firm Berjaya. Vietlott offers two games and is expanding its network of terminals nationwide.
Lawyer in Vietnam Oliver Massmann New Decree on Public - Private PartnershipDr. Oliver Massmann
This document contains a presentation by Oliver Massmann from Duane Morris Vietnam LLC given on January 4, 2017 in Hanoi about the new decree on public-private partnerships (PPP) in Vietnam. The presentation covers the general introduction of the new decree, positive changes introduced by the decree including broader application to new sectors, additional contract forms, changes to private capital requirements and government contributions, and selection of investors. It also discusses specific issues still needing clarification such as foreign currency convertibility, land use rights, and negotiation timeframes.
The document provides background information on the ASEAN-China Free Trade Agreement (ACFTA), the largest free trade agreement in the world. It discusses key details of the agreement such as tariff reductions, rules of origin, sensitive goods lists, and the dispute settlement mechanism. The document is intended to help businesses understand how to qualify for tariff preferences under the agreement and leverage the new market access opportunities between ASEAN countries and China.
This document discusses implementing power projects in Myanmar. It outlines key legislation related to state-owned enterprises, electricity, foreign investment, labor reform, and the environment. It describes the various government ministries and departments involved in the power sector and independent power producer (IPP) process. The document advises that experience navigating Myanmar's complicated legal system is important, and working with local partners and experienced advisers can help foreign energy companies develop power projects as IPPs in Myanmar.
The document discusses compliance issues that companies operating in Vietnam may face. It begins by outlining some of the key compliance areas such as competition law, employment law, anti-corruption laws, and highlights anti-corruption as the focus. It then provides details on whistleblower protections and how companies should handle whistleblower reports, including gathering evidence and potentially notifying authorities. Lastly, it discusses two specific compliance issues related to the case: price-fixing under competition law and bribery under anti-corruption laws.
This document provides an overview and comparison of foreign investment opportunities in Myanmar and Vietnam. It begins with brief profiles of each country and compares their economic statistics and development levels. While Myanmar and Vietnam both have potential for growth, Vietnam currently has more developed infrastructure and human capital. However, Myanmar may have more opportunities due to being a newer market and undertaking political reforms. The document discusses factors that make each country attractive, such as natural resources and population in Myanmar, and Vietnam's trade agreements. It concludes that which country wins foreign investment depends on their commitments to institutional reforms and openness.
New Battles in Southeast Asia for Foreign Investment: Myanmar v.VietnamDr. Oliver Massmann
This document provides a comparison of foreign investment opportunities in Myanmar and Vietnam. It begins with an overview of the basic economic and demographic statistics of each country. While Myanmar and Vietnam share some similarities as developing Southeast Asian nations, Vietnam currently has stronger infrastructure and human capital. However, Myanmar is pursuing political and economic reforms that have increased foreign investment since 2011. The document argues that both countries could succeed in attracting foreign investment depending on their commitment to further reforms and openness.
This document discusses investment opportunities in Myanmar and Vietnam. It provides an overview of the economies and business environments of both countries, including key economic indicators and sectors that show promise for foreign investment. Myanmar is highlighted as an untapped market with potential for growth, though it faces challenges around infrastructure, education, and absorbing its population. Vietnam has integrated more into the global economy through trade agreements and shows signs of a growing middle class. The document encourages further evaluating opportunities in Myanmar and Vietnam as they develop.
Investing and Doing business in Myanmar, Cambodia and Vietnam Dr. Oliver Massmann
This document discusses investing and doing business in Cambodia. It provides an overview of Cambodia, including its economy and opportunities and challenges for foreign investment. Some of the most promising sectors for investment include agriculture, oil and gas, manufacturing, electricity, and tourism. The document also outlines the forms that foreign investment can take and incentives available in Cambodia.
Investing and Doing Business in Myanmar How to Get It Right!Dr. Oliver Massmann
This document provides an overview of investment opportunities and regulations in Myanmar. It discusses promising sectors for investment such as construction, energy, oil and gas, telecommunications and mining. Foreign investors can establish wholly foreign owned companies or joint ventures. There are restrictions on certain activities like those affecting traditions, public health or the environment. The minimum capital required varies by type of company but must include 50% in foreign currency.
The document discusses opportunities for foreign investment in Vietnam's trade and distribution sector. It provides an overview of Vietnam's economy, noting areas of growth. Major foreign investors come from countries like Japan, South Korea, and Singapore. The regulatory framework for foreign investment in trade and distribution allows for trading rights, distribution rights, and establishing retail outlets, with some restrictions. Opportunities exist in developing modern retail channels to serve Vietnam's growing consumer class. However, foreign investors still face legislative and bureaucratic obstacles in practice.
The document discusses the impact of the global financial crisis on Vietnam's economy and recommendations for Vietnam. It summarizes that while the global crisis did not directly impact Vietnam, it indirectly affected the country through declines in trade, foreign direct investment, and financial flows. Domestically, overspending on inefficient public investments, state-owned enterprise-focused growth, rapid banking system expansion, and rising non-performing loans have contributed to Vietnam's economic problems. It recommends that Vietnam pursue free trade agreements and TPP to attract more foreign investment, compete internationally, and secure permanent market access for its exports.
The document is a presentation by Dr. Oliver Massmann on investing in Myanmar under the new investment laws. It provides an overview of the investment climate and opportunities in Myanmar, including key sectors such as oil and gas, power, and manufacturing. It discusses the lifting of US sanctions on Myanmar and the new government. The presentation also outlines the new Myanmar Investment Law of 2017, which provides tax incentives to foreign investors and guarantees against nationalization. It notes some challenges to foreign direct investment in Myanmar but argues the country remains one of the last untapped markets in Asia.
Lawyer in Vietnam Dr. Oliver Massmann Vietnam M&A in 2018 and 2019 OutlookDr. Oliver Massmann
The document discusses mergers and acquisitions (M&A) trends and outlook in Vietnam. It notes that M&A deal value in Vietnam hit $9.9 billion in 2018, a 160% increase from 2017. Real estate was a major sector for deals. Foreign investment laws were also relaxed, allowing for up to 100% foreign ownership of listed public companies. The document provides an overview of Vietnam's economy and M&A regulation, and considers factors driving M&A activity as well as challenges for foreign investors.
The document discusses mergers and acquisitions (M&A) in Vietnam. It provides an overview of Vietnam's strong economic growth and increasing foreign investment. Major M&A trends in Vietnam in recent years are highlighted, with the value of M&A deals reaching $10.4 billion in the first nine months of 2019. The document also outlines Vietnam's legal framework for M&A transactions and considerations for foreign investors conducting deals in Vietnam.
Investing and Doing business in Fisheries Sector in MyanmarDr. Oliver Massmann
This document provides an overview of investment opportunities and regulations regarding the fisheries sector in Myanmar. It discusses Myanmar's fisheries resources and production potential. Foreign investment in the fisheries sector is allowed only through joint ventures with Myanmar citizens, with a cap on foreign capital ratio of 80%. Some fisheries activities require an environmental impact assessment. The document outlines challenges such as a lack of capital and technology, and reasons for investing in Myanmar's fisheries sector, including its potential as an untapped market and new FDI hub in Asia.
This document discusses M&A and capital market development in Vietnam. It notes that Vietnam is developing as a frontier market and capturing foreign investor attention despite issues with state-owned enterprises and non-performing loans. Foreign direct investment in Vietnam has increased, with Japan leading M&A deals. However, impediments like inconsistent regulations and low labor quality remain. The outlook is positive, with GDP growth expected around 6% in 2014 and foreign investment increasing due to economic stability and trade agreement benefits.
Lawyer in Vietnam Dr. Oliver Massmann Doing Business in Vietnam - The BOOMDr. Oliver Massmann
The document discusses why Vietnam is a good place to do business. It notes Vietnam's strong economic growth in recent years, with GDP growth of 6.81% in 2017 and a population of over 91 million. Vietnam has pursued many free trade agreements and economic integrations that have opened up its economy. The country offers political stability and a growing middle class, making it attractive for businesses. The document promotes investing in Vietnam.
This document discusses Vietnam's economy and investment opportunities. It provides an overview of Vietnam's 2013 GDP, inflation, exports, minimum wage, and forecasts GDP growth of 5.8-6% in 2014. Foreign direct investment in Vietnam increased 69% in 2013 and is expected to rise further. The document outlines opportunities in industries like real estate, healthcare, food and beverage, and retail. It also discusses how the Trans-Pacific Partnership and EU-FTA agreements could boost Vietnam's economy by reducing tariffs and opening new export markets. The document recommends that investors consider opportunities in Vietnam.
This document discusses Vietnam's economy and investment opportunities. It provides an overview of Vietnam's 2013 GDP, inflation, exports, minimum wage, and forecasts GDP growth of 5.8-6% in 2014. Foreign direct investment in Vietnam increased 69% in 2013 and is expected to rise further. The document outlines opportunities in industries like real estate, healthcare, food and beverage, and retail. It also discusses how the Trans-Pacific Partnership and EU-FTA agreements could boost Vietnam's economy by reducing tariffs and opening new export markets. The document recommends that investors consider opportunities in Vietnam.
M&A in Vietnam: addressing key issues that arise under the enterprise law and...Dr. Oliver Massmann
This document summarizes a presentation given by Dr. Oliver Massmann on M&A in Vietnam. It discusses opportunities and challenges for M&A under Vietnam's new investment and enterprise laws. Key points include an overview of major M&A trends in Vietnam in recent years, notable M&A deals in 2016, drivers of M&A activity, changes to foreign ownership limits, and Vietnam's increasing economic integration through agreements like the TPP and EU-Vietnam Free Trade Agreement. The presentation addresses issues that commonly arise for foreign investors pursuing M&A transactions in Vietnam.
INVESTMENT OPPORTUNITIES AND CHALLENGES IN VIETNAM AND MYANMARDr. Oliver Massmann
The document discusses investment opportunities and challenges in Vietnam and Myanmar. It provides an overview of the economies and business environments of both countries, highlighting sectors with strong investment potential such as agriculture, manufacturing, and tourism. Challenges include developing infrastructure and a skilled workforce. The document also outlines the key trade agreements and incentives available to foreign investors in Vietnam and Myanmar.
Lawyer in Vietnam Dr. Oliver Massmann ASEAN's New Direction - Opportunities f...Dr. Oliver Massmann
This document is a presentation about opportunities for German companies in ASEAN given the establishment of the ASEAN Economic Community (AEC). It begins with an introduction to the AEC, including its goals of creating a single market and production base to attract foreign investment and increase intra-ASEAN trade. Country backgrounds are then provided for Vietnam, Cambodia, and Myanmar, highlighting economic growth opportunities and challenges in each. The presentation concludes by emphasizing the benefits for investors of doing business in the ASEAN region.
Similar to Omassmann mining in myanmar and vietnam (20)
VIETNAM — Anwalt in Vietnam Dr. Oliver Massmann Corporate Sustainability Due ...Dr. Oliver Massmann
VIETNAM — Anwalt in Vietnam Dr. Oliver Massmann Corporate Sustainability Due Diligence Directive (CSDDD oder das EU-Lieferkettengesetz): Umfassende Analyse und Ausblick auf die Auswirkungen auf Unternehmen in Vietnam
Corporate Sustainability Due Diligence Directive (CSDDD or the EU Supply Chai...Dr. Oliver Massmann
Corporate Sustainability Due Diligence Directive (CSDDD or the EU Supply Chain Law): A Comprehensive Analysis and Review of its Implications on Vietnam-based Companies
Legal Alert - Vietnam - First draft Decree on mechanisms and policies to enco...Dr. Oliver Massmann
Legal Alert - Vietnam - First draft Decree on mechanisms and policies to encourage the development of rooftop solar power systems for self-consumption purpose
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Agenda:
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Doing Business in Myanmar and Vietnam
• The Country at a Glance
• A Comparative Snapshot
• Myanmar v. Vietnam: Same same but different
Investing in Myanmar and Vietnam
• Myanmar v. Vietnam in the Battle for Foreign
Investments
• Investment and Mining Regulatory Framework
Government Procurement and Bidding
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Myanmar at a Glance
• Official Name: Republic of the Union of
Myanmar
• Location: South East Asia
• Neighbors: Bangladesh, China, Laos, India
and Thailand
• Area: 676,578 Km2
• Capital: Naypyidaw
• Largest city: Yangon (Rangoon)
• Currency: Kyat (MMK) (01 USD = 968
MMK)
• Language: Burmese
• Population: 53.3 million
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Vietnam at a Glance
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• Official Name: Socialist Republic of
Vietnam
• Location: South East Asia
• Neighbors: China, Cambodia and Laos
• Area: 331,688 Km2
• Coastline: 3,260 Km
• Capital: Hanoi
• Largest city: Ho Chi Minh City (Saigon)
• Currency: Vietnamese Dong (VND) (01
USD = 21075 VND)
• Language: Vietnamese
• Population: 90.388 million
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Myanmar v. Vietnam: A Comparative Snapshot
2013 Myanmar Vietnam
GDP US$ 53.1 billion US$170.4 billion
GDP per capita US$ 835 US$1,890
2013 GDP Growth 7.5 % 5.42 %
Inflation 5.8 % 6.04%
FDI US$ 4.1 billion US$22 billion
Import turnover US$ 12.53 million US$ 132.2 million
Export turnover US$ 10.23 million US$ 131.3 million
Labor force 31.8 million 51.69 million
Minimum wage No general minimum wage
Public sector: S$56.8
Laborer: About US$2.3/day
VND 2.7 million (US$ 128) per
month (Jan 2014)
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Myanmar v. Vietnam: A Comparative Snapshot
Infrastructure Myanmar Vietnam
Port Poor Fair
Train Fair Fair
Airway Poor Fair
Road Poor Fair
General Poor Fair
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Level of Education Myanmar Vietnam
Average of Schooling (in years) 4 10.4
Public Spending on Education (% of GDP) 1.26% 1.8%
College Level Education (% of population) 11.5% 18.67%
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Myanmar v. Vietnam: Same same but different
• Myanmar v. Vietnam: Same same
Both are located in South East Asia and have a strategic
location: A bridge between South and South East Asia
Myanmar’s current economic situation is similar to that of
Vietnam 18 years ago: Outdated legal system and excess of
bureaucratic administration
Myanmar and Vietnam have the same internal problems, e.g
high rate of corruption, underground economy that makes up
most of transactions and is out of control
Both have young population, mostly at working age
Both have abundant natural resources, especially oil and gas
and huge potential in development of agricultural economy
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Myanmar v. Vietnam: Same same but different
• Myanmar v. Vietnam: What’s the difference?
Myanmar is with 89% Buddhists a real Buddhist country, while
81.69% of Vietnamese are non-religious
Different legislation: Myanmar’s system is based on Common
Law while Vietnam’s system is similar to a civil law jurisdiction
NOTABLY, Confucius never arrived in Myanmar!!!
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Myanmar v. Vietnam in the Battle for
Foreign Investments
• Advantages of Vietnam:
Vietnam’s economy has developed 20 years earlier than
Myanmar’s one
Current situation of infrastructure and human resources
of Vietnam is better than those of Myanmar
• Advantages of Myanmar:
Myanmar: Last untapped market in Asia
Myanmar can take opportunities when FDI enterprises
losing faith in Vietnam economy to become new FDI hub
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Myanmar v. Vietnam in the Battle for
Foreign Investments
• Can Myanmar become a next Asia tiger?
Recent democratic reform with new Union Government headed by
President Thein Sein in March 2011
Issuance of new Foreign Investment Law (FIL) in November 2012
with detailed guidelines issued in Jan 2013 to ease the investment
procedures and gives more investment incentives
International sanctions are lifted and foreign firms keep eye on
Myanmar
Myanmar has all the elements required to create another Asian
economic miracle
GDP growth rate is projected to average around 6 per cent per year
until 2020, with GDP doubling to $124 billion by 2020
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Myanmar v. Vietnam in the Battle for
Foreign Investments
• Will Vietnam still be a FDI good destination?
Even though sharply dropped FDI and current cautious economy
BUT Japanese investors keep coming to Vietnam and emerging wave of
M&A from ASEAN investors
Move of production factories from Japanese and Korean giant industrial
firms into Vietnam
New investment wave coming? Expected after signing Free Trade
Agreement (FTA) with the EU and Trans Pacific Partnership (TPP) with the
US, Australia and other member countries. FTA and TPP are a big chance
for Vietnam to attract more FDI and to engage globally
• Why Vietnam needs TPP?
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Myanmar v. Vietnam: Who wins?
• WTO analysis of liberation of market access:
Vietnam ties in first place with Singapore
• *Typical restrictions: number of opened sectors, JV requirement,
limits on foreign-owned shares, permission requirement
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Country Limitation of
market access*
Country Limitation of
market access*
Malaysia medium Myanmar high
Indonesia medium Cambodia medium
Philippines medium Laos medium
Singapore low India high
Thailand medium China medium
Brunei high Vietnam low
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Myanmar v. Vietnam: Who wins?
• Remember:
Myanmar a founding member of WTO that means WTO service
sector commitment => Unbound
Vietnam is the 150th WTO member and the other 149 members
demand high level commitments => Better and higher market
access and service sector commitments
⇒ Myanmar must move fast on concluding free trade agreements
• Myanmar v. Vietnam: Who wins?
DEPENDS ON COMMITMENTS ON INSTITUTIONAL REFORMS OF
BOTH MYANMAR AND VIETNAM!!!!
• OPEN OR ISOLATED?
• MODERN OR CONSERVATIVE?
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Investment Regulatory Framework in Myanmar
• Myanmar Foreign Investment Law (“MFIL”) 2012
Replaces previous MFIL 1988
New improved investment incentives offered to foreign investors
Restrictions on foreign investment on certain business activities
Regulatory authority: Myanmar Investment Commission (“MIC”)
• Myanmar Foreign Investment Rules (Jan 2013)
Myanmar Foreign Investment Rules (Notification No. 11 of 2013) released in
January 2013
Foreign ownership in restricted business activities now allowed up to 80%
MIC given more authority as government body
Directorate of Investment and Company Administration (“DICA”) given
more power over foreign investments
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Investment Regulatory Framework in Myanmar
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MYANMAR COMPANIES ACT 1914
• 100% foreign-owned or JV with
Myanmar entity
• Minimum of 2 shareholders
• Minimum capital requirements
US$150,000 for Manufacturing-
related business
US$50,000 for Service-related
business
MYANMAR FOREIGN
INVESTMENT LAW 2012
• 100% foreign-owned or JV with
Myanmar entity
• Minimum capital requirements
may be determined by Myanmar
Investment Commission (“MIC”)
• Due diligence conducted by MIC
on the Investor – experience,
financial standing and on
investment project
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Investment Regulatory Framework in Myanmar
• General Types of Companies: Private Limited Liability Company; Public
Limited Liability Company; Sole Proprietorship; Company Limited by
Guarantee with Share Capital; Company Limited by Guarantee without Share
Capital; General Partnership; Branch of a Foreign Company
• Capital requirement: Minimum capital required to register for a Permit
to Trade:
About USD 138,199 for an industrial company
About USD 69,000 for a trading company
About USD 41,460 for a service company
Note: Fifty percent (50%) of the prescribed capital must be brought in as foreign currency
before the Permit to Trade is issued and the balance 50% must be remitted within 30 days
prior to the date of renewal of Permit to Trade
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Investment Regulatory Framework in Myanmar
• Mining Regulatory Framework :
Mining operations in Myanmar are regulated by the 1994 Mines
Law, the 1996 Mines Rules and their implementing guidelines
According to the 1989 State-Owned Economic Enterprises Law,
exploration, extraction and sale of minerals is a state monopoly.
But, the Myanmar Ministry of Mines has the power to grant
exploration and production licenses to local and foreign private
companies
Local and foreign private companies must enter into a production
sharing contract with state-owned Mining Enterprise No. 1, No. 2 or
No. 3
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Investment Regulatory Framework in Myanmar
• How to Access the Market:
Small and medium-scale mineral production is prohibited under
Foreign Investment Rules
Prospecting, exploration and production of industrial minerals and
metallic minerals or large-scale production of minerals are allowed
in a joint venture under Notification 1/2013
Production and marketing of rare earths, strategic minerals,
radioactive minerals; manufacturing and marketing of gems, jewelry
and finished products (statues, carvings) is allowed in a joint
venture under Notification 1/2013
Business which can cause great effect on the conditions of security
and the economic, environmental and social interests of the Union
and its citizens” is required for parliamentary approval under
Foreign Investment Law
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Investment Regulatory Framework in Myanmar
• Mining Regulatory Framework :
• Licenses: 02 separate licenses obtained for each mineral: Exploration
License and Production License:
Exploration License: It is required to sign an agreement for the
exploration and feasibility study with Department of Geological
Survey and Mineral Exploration and receive the approval for the use
of land before the Ministry of Mines issue the Exploration License
Production License: Production License will be possibly obtained if
feasibility study after exploration proves the production at
commercial scale.
Before obtaining Production License, the investor must sign
production sharing contract with Mining Enterprise No. 1, No. 2 or
No. 3 and obtain MIC permit
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Investment Regulatory Framework in Vietnam
• Investment Legislation Reform
Vietnam is actively working to better its’ legal framework, especially
simplifying administrative procedures in the fields, in order to attract
more foreign investment in the coming time
2014 proves to be a crucial year as a long set of new laws will come up:
New Law on Enterprises is under drafting session which promises solutions
for many issues during the implementation of the current Law
Law on Investment is under review too and it may be in line with the Law on
Enterprises
New decree on PPP which would repeal the Prime Minister’s pilot decision
may be soon passed but the first draft was not really sophisticated and it
needs substantial revision
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Investment Regulatory Framework in Vietnam
• How to Access the Market:
Establishing a corporate vehicle in Vietnam (100% foreign owned or
joint venture with Vietnamese partners) or cooperating with
Vietnamese partners without establishing any corporate vehicle
under business cooperation contracts.
Forms of Enterprises: LLC, JSC, Partnership and Private Company.
Vietnam’s WTO commitments provide foreign ownership
restrictions in many service sectors. Market access to “unbound
sectors” is subject to discretionary judgment of licensing
authorities.
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Investment Regulatory Framework in Vietnam
• Mining Regulatory Framework:
No access and capital limitation on foreign investor under the applicable
mineral law. The foreign firm may apply for 100% owned capital mining
project. But the foreign investor must satisfy with the licensing
requirements!!!
The investment project for mineral exploration and mining must comply
with the master plan (if not, required an in-principal approval issued by the
Prime Minister) and the environmental protection laws
Enterprises with foreign owned capital which have been granted (i)
investment certificate (“IC”) and (ii) mineral licenses may actively explore
for minerals, mine and process minerals based on the specific rights granted
in the relevant licenses.
Foreign enterprises which have established ROs or branches in Vietnam and
have obtained the appropriate mineral license may explore for minerals.
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Investment Regulatory Framework in Vietnam
• Mining Regulatory Framework:
Licenses: 02 separate licenses obtained for each activity undertaken during a
commercial scale mining project: (i) Exploration license and (ii) Mining license
Exploration license: License term of 48 months, possibly extended for
further 48 months. The exploration license is exclusive in respect of the
granted area and is transferable under certain conditions: the issuance
conditions, receipt of issuer approval and payment of assignment tax
Mining license: Mining license is issued at the same time as, or subsequent
to, the IC issue. License duration is determined on the basis of the
feasibility study submitted in the IC application dossier, but cannot exceed
30 years, possibly extended for several time
Mineral export: The laws does not have any restriction but the master plan
provides the restriction on the export of certain minerals pursuant to that plan.
Under Directive 02/2012 of the Prime Minister, export of raw minerals are now
strictly prohibited
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Government Procurement and Bidding
• Public procurement is one of the sectors most susceptible to corruption
• Officials in charge of equipment purchase contracts can solicit for kickbacks or
personal commissions
• The number of competitive tenders in the total value of awarded government
procurement contracts in Vietnam declined significantly
• Who benefits from corruption and non-transparency in government procurement
in Vietnam? Chinese contractors!
90% of power, mining, manufacturing, ferrous and chemical projects of state-owned
companies in Vietnam are awarded to Chinese contractors.
The Chinese cheap loans and low-quality technology are the major concerns in
Vietnam
• Government procurement in Myanmar: Same same with Vietnam
• But Myanmar has stricter controls and more transparencies
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Government Procurement and Bidding
• HOW TO REACT WITH YOUR HANDS CLEAN?
IN THE SHORT TERM:
Forming partnership with subsidiaries or well-connected companies of
major state-owned companies (where possible) for bidding.
Taking advantages of the business associations and foreign diplomatic
organizations.
IN THE LONGER TERM:
Taking advantage of the negotiations of the free trade agreements to require
Myanmar and Vietnam to comply with major principles on government
procurement and bidding under WTO’s Agreement on Government
Procurement (“WTO’s GPA”).
Creating more pressure for Myanmar and Vietnam to join WTO’s GPA. This
should also be a prerequisite for development aid of the US, the EU,
Australia for Myanmar and Vietnam!
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