At a conference organized by Vietnam’s Ministry of Public Security (MPS) on June 7, 2023, government officials provided more guidance on the recently issued Personal Data Protection Decree (PDPD), which is set to take effect on July 1, 2023. Key takeaways included the following: A national portal on personal data protection for online submission of notifications and registrations will be launched before July 1, 2023. The MPS also plans to issue templates for data processing impact assessments (DPIAs) and transfer impact assessments (TIAs) in the near future. The PDPD requires data controllers, data processors, and data controller-processors to prepare a DPIA at the start of personal data processing. The MPS clarified that the DPIA is expected to be prepared and submitted once. Only changes to its content would require submission of an updated DPIA. Both DPIAs and TIAs (which are for cross-border data transfers) must be prepared in Vietnamese. Since the sale and purchase of personal data is strictly prohibited unless explicitly permitted by law, the MPS has handled approximately 14 cases involving unlawful trading of personal data, including sensitive data. Under the PDPD, sensitive data has a broader definition than under the GDPR (the European Union’s General Data Protection Regulation), and also includes location data, creditworthiness, and personal financial data. Consent is not a legal basis for the trading of personal data, including sensitive data. The 72-hour timeline for responding to a data subject’s request does not mean 72 working or business hours. Rather, it means 72 actual consecutive hours. Any organization transferring the personal data of Vietnamese citizens outside of Vietnam must comply with the PDPD, regardless of the organization’s location. For organizations incorporated overseas that must comply with the PDPD, there is no requirement to appoint a local representative (unlike the GDPR)—but appointment of a data protection officer (DPO) may be required. As the enforcement for

In recent years, Vietnamese companies have shown increased interest in listing their shares or depository receipts (where a bank acts as custodian of underlying shares) on foreign stock exchanges. These overseas listings offer undeniable advantages, such as access to capital at high valuation, the improvement of corporate management and internal control with higher transparency and efficiency, the enhancement of stock liquidity for foreign shareholders, and increased visibility on the global market. However, the process for overseas listing is costly and time-consuming, and companies would be well advised to gain a basic understanding of the process before deciding to enter foreign stock markets. In general, to list on a foreign stock exchange, a Vietnamese company can consider the options of either (i) dual listing or (ii) restructuring as a subsidiary of an offshore parent who will list overseas. Dual Listing Dual listing allows a company to be concurrently listed on a Vietnamese stock exchange and on one or more foreign stock exchanges, such as those in Singapore, the U.S. or the U.K. This option is subject to conditions and procedures under the securities laws of Vietnam, which primarily include the Law on Securities of 2019 and its guiding Decree No. 155/2020/ND-CP. A Vietnamese company may only proceed with offshore initial public offering (IPO) procedures in accordance with foreign laws after obtaining approvals from the State Securities Commission of Vietnam (SSC) for overseas listing of shares or depository receipts. Numerous requirements apply, including, among others: Being a listed company in Vietnam; Complying with Vietnamese regulations on foreign ownership limitation and foreign exchange management; Adopting a resolution by the General Meeting of Shareholders to approve the overseas listing; Obtaining approval from the specialized authorities if the company to be listed engages in conditional business operations (e.g., the State Bank of Vietnam for banks, the Ministry of Finance of Vietnam for

Arbitration specialists from Tilleke & Gibbins’ dispute resolution team in Bangkok contributed the Thailand chapter to the recently published Challenging and Enforcing Arbitration Awards Guide from Global Arbitration Review (GAR). The Challenging and Enforcing Arbitration Awards Guide addresses the evolving realities of today’s legal landscape, in which enforcement of arbitral awards is a growing concern. It also offers guidance on challenging awards in different jurisdictions. Part I of the guide offers a comprehensive thematic overview to provide readers with a clear understanding of the intricacies involved in the arbitration process. Part II then explores the specifics of challenging and enforcing arbitration awards in 29 different jurisdictions. The Thailand chapter—which was authored by counsel Michael Ramirez, partner Noppramart Thammateeradaycho, and associate Anyamani Yimsaard—covers the following topics: Requirements for the form of arbitral awards; Recourse against an award; Setting aside; Recognition and enforcement of awards; Procedure for service of judicial and extrajudicial documents; Identification of assets; Enforcement proceedings; Interim measures; Attachment proceedings; and Recognition and enforcement against foreign states. The Thailand chapter can be downloaded through the button below, or visit the GAR website to explore the full guide.

Vietnam’s Law on the Protection of Consumer Rights (“Consumer Protection Law” or “CPL”) was passed in 2010 and has been effective since July 1, 2011, providing a legal framework for protecting the rights of consumers in Vietnam. Over the past 12 years of implementation and application, however, the CPL has revealed its shortcomings and limitations. For example, there are issues related to inconsistency between the CPL and other laws such as the Civil Code, Law on Competition, Enterprise Law, and Cybersecurity Law. The current CPL also has not kept pace with modern consumption practices, especially the rapid changes and emerging trends in e-commerce, cross-border transactions, and services via digital platforms. The government of Vietnam has therefore entrusted the Ministry of Industry and Trade (MOIT) to take the lead in drafting a new amended CPL to replace the old one, to improve the policies and legislation on consumer protection, and protect the vulnerabilities of consumers in transactions with businesses. During the 5th session of the National Assembly at the end of May 2023, the National Assembly discussed and reviewed the latest draft of the CPL (“Draft CPL”), which is expected to be approved on June 21, 2023. The following are some key contents of the Draft CPL: 1. Revised Subjects of Application Unlike the current CPL, which applies only to consumers; traders of goods and services; and agencies, organizations and individuals involved in consumer protection activities within the territory of Vietnam, the Draft CPL adds “the Vietnamese Fatherland Front, socio-political organizations and social organizations participating in protecting consumers’ interests” as new subjects of its application, and clarifies that “agencies, organizations, and individuals” include both domestic and offshore agencies, organizations, and individuals involved in activities of consumer rights protection. The Draft CPL also removes “within the territory of Vietnam” from the definition of the

Efficiency and predictability in the global supply chain are critical for business operations. Whether involved in manufacturing, distribution, logistics, or even in the provision of services, most business operators rely upon problem-free customs clearance in the countries in which they operate. If customs disputes do arise and are not effectively addressed, they can have a profound impact on operations, delaying delivery, creating potential civil and criminal liabilities, or even resulting in the seizure of imported goods. Often, importers or their agents can become complacent, particularly where there has been a period of months or even years of customs clearance without encountering any issues. However, disputes can arise, often relating to origin of goods, classification, and duty assessment. When not addressed early in the dispute process or through settlement, a dispute can escalate, leading to issuance of official letters of assessment by customs authorities. Once Thai customs has issued such a formal letter of assessment to an importer, discretion in settlement is gone and only the full value of the duty assessment can be accepted. At this stage, the only legal avenue for challenge is to accept the duty assessment or to litigate. This article addresses post-assessment litigation options to challenge official customs duty assessments. Customs Board of Appeals Once an official assessment is made, an importer has the right to seek a formal appeal of the customs assessment with the Customs Board of Appeals or to otherwise make payment of the full assessment within 30 days of the date it received the assessment. Extensions of time are not permitted. With few exceptions, the right to appeal does not allow the importer to defer an assessed duty payment. This means that the importer must post security for the assessed duty at the time of filing the appeal. This essentially means that an importer has

In Southeast Asia, artificial intelligence (AI) products and services are being leveraged across industries such as finance, healthcare, retail, agriculture, and manufacturing. Governments across the region are recognizing the benefits of harnessing AI and the positive impact of AI technology on economic development. As the rise in AI deployment creates opportunities for economic growth in Southeast Asia, regulatory and digital governance efforts should focus on ethical, inclusivity, and cybersecurity concerns to help ensure that the widespread use of AI technology in the region is sustainable. Two jurisdictions in the region that have already made significant strides in developing initiatives surrounding AI are Singapore and Thailand. Singapore Due to its more advanced technological infrastructure, Singapore was one of the first countries in the region to address AI-related issues. Singapore has been aligning its data protection policies and regulations with the changing digital landscape since 2012—the year Singapore passed its Personal Data Protection Act. In 2019, Singapore unveiled its National AI Strategy to increase the use of AI technologies and deploy “scalable, impactful AI solutions in key verticals by 2030.” The goal is to align talent, regulation, and business growth to ensure AI applications serve society. Singapore’s approach is to facilitate innovation while safeguarding consumer interests, as it strives to become one of the regional leaders in the field of AI. In terms of Singapore’s regulatory landscape, Singapore’s Personal Data Protection Commission (PDPC) oversees data and AI, including AI developers and AI-using companies, which consist of backroom operations, front-end usage companies, and distributors of equipment with AI features. The Singapore Academy of Law (SAL) oversees all laws applicable to AI systems and decides on issues that impact the AI industry. Singapore has joined various bilateral and regional trade arrangements to facilitate research, development, and collaboration in support of its growing digital economy. Singapore’s Info-Communications Media

Thailand’s labeling requirements have new rules on product label font size and readability following the issuance of Announcement of the Label Committee Re: Characteristics of the Label for Label-Controlled Goods No. 3, which is a bylaw of the Consumer Protection Act (CPA). The announcement takes effect on June 18, 2023, and applies to all “label-controlled goods,” which are described under the CPA and its bylaws as goods either produced by factories in Thailand or imported into Thailand for sale. The labels of these goods must meet current labeling requirements, such as having information about the product name, quantity, intended use, cautions, and expiry date. Label readability—specifically in terms of the size of text on labels—is also a mandatory requirement, and is the focus of this latest announcement. Text size requirements are an important part of ensuring that consumers are fully aware of the details of a product before deciding to purchase the goods. According to the announcement, any statement or text displayed on a label must be easily visible and readable. The size of the text must be proportional to the label area. Specifically, the text height must not be less than 2 millimeters (or 1.5 millimeters for labels with an area of less than 35 square millimeters). The announcement does not clarify exactly how the height of the text will be determined. Some companies have expressed concern that these requirements are too strict and will be challenging to meet, especially for small businesses. The text size requirements may be expensive to implement, as the larger text requires more space on the label, potentially leading to larger labels or packages, higher production costs, or even expensive recalls to affix new labels. In some cases, text size requirements may even make it impossible to fit all the required information on the label. A violation

In April 2022, Myanmar’s State Administration Council established the Foreign Exchange Supervisory Committee (FESC) to approve foreign currency conversion, make exemptions to foreign exchange restrictions, and permit overseas foreign currency transfers. Because of the FESC’s establishment and related regulatory changes, companies that would like to transfer funds out of Myanmar for capital reduction, share capital for liquidated companies, share transfers, or share dividends must abide by the FESC’s requirements, which vary depending on the type of company. The Myanmar Investment Commission (MIC) has announced that companies permitted by or endorsed under the Myanmar Investment Law must submit various supporting documents when applying to transfer foreign currency internationally. These documents, which must be addressed to the MIC chairman, include the following: Prescribed form for transfer of foreign currency; Application letter giving a specific reason for the transfer; Original board of directors’ resolution; Audited financial statements for the relevant financial year; Up-to-date bank statement of the company; Tax assessment confirmation letter for the relevant financial year; Tax clearance certificate for the relevant financial year, in the case of liquidated companies; and Copy of the updated quarterly performance report using the form prescribed by the MIC. If the transferor cannot submit the documents in person, the required documents need to be accompanied by a power-of-attorney or appointment-of-representative letter. Though the FESC has not announced its own documentation requirements, experience shows that MIC companies must submit an application to the MIC Investment Monitoring Division before submitting their offshore remittance application to the FESC. Once the MIC has received a complete application, it will request a recommendation from the Central Bank of Myanmar (CBM). With this recommendation in hand, the Investment Monitoring Department will then seek FESC approval internally. Aside from MIC companies, DICA companies (i.e., companies that do not require approval from the MIC for their business activities) must submit their applications for offshore transfers