With the growth of Vietnam’s economy and population, the country’s pharmaceutical market has become increasingly important. Vietnam is classified by the IQVIA Institute as a “pharmerging” market—a developing country with a relatively low per capita income but strong market growth potential for prescription medication. According to statistics from the Drug Administration of Vietnam (DAV), the sector will continue to see double-digit growth for the next five years, offering many opportunities for development.

Tilleke & Gibbins’ banking and finance specialists contributed the latest update on Thailand’s regulatory framework for the banking and securities sectors to Thomson Reuters Accelus Compliance Complete, a comprehensive guide to global risk and compliance information. The following topics are covered in detail:

International franchises have taken off in the past decade in Vietnam, with signs of some of the world’s most well-known consumer brands lining the streets and shopping centers of major cities. While franchising has become a common form of business in Vietnam, the country’s laws in this area are in a relatively early stage, which can lead to uncertainties for many businesses wishing to operate a franchise system in Vietnam.

In Thailand, many of the world’s most successful franchise models have established themselves to cater to the sophisticated Thai consumer.

On October 25, 2019, Thailand’s Narcotics Control Committee issued a notification to clarify the definition of hemp, in order to rectify inconsistent definitions given in previous regulations on hemp. The notification took effect on October 26, 2019.

As the exclusive Thailand member firm of Multilaw, a leading global network of independent law firms, Tilleke & Gibbins contributed the Thailand chapter to the organization’s Enforcement of Foreign Judgments Project.

As the exclusive Vietnam member firm of Multilaw, a leading global network of independent law firms, Tilleke & Gibbins contributed the Vietnam chapter to the organization’s Enforcement of Foreign Judgments Project. Vinh Quoc Nguyen and Loc Xuan Le of Tilleke & Gibbins in Vietnam were responsible for writing the chapter, which consists of two main sections.

Vietnam is well known as one of Asia’s fastest-growing economies, and a cornerstone of this growth is foreign direct investment (FDI). The Nikkei Asian Review noted that in 2018, FDI reached USD 19.1 billion—a sixth straight annual record.