The Central Bank of Myanmar (CBM) issued Circular Letter 1/2019 on January 29, 2019, stating that domestic private banks will now be able to accept up to 35% equity investments from foreign banks and financial institutions. The Circular Letter comes into effect immediately.Domestic private banks that wish to accept foreign investments under the circular are required to submit a set of documents to the CBM, including a copy of the mutual agreement describing the equity investment ratio, the terms and conditions of the investment, and others.

Myanmar’s long-awaited Trademark Law was signed into law on January 30, 2019, establishing the framework for a comprehensive trademark registration system open to both foreign and domestic trademark owners.Once the administrative bodies and enabling legislation to support this system are in place, all existing trademark owners who have recorded their rights under Myanmar’s old system will have to file new applications to protect their marks under the new law.Overview of the New Law

Following the United States’ high-profile withdrawal from the Trans-Pacific Partnership (TPP) in 2017, the remaining members agreed to move forward with a revised trade agreement called the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, or CPTPP. The CPTPP came into force on 30 December 2018 between the first six signatories, Australia, Canada, Japan, Mexico, New Zealand, and Singapore. Vietnam, the seventh country to ratify the new agreement, officially joined the CPTPP on 14 January 2019.

On December 31, 2018, the Vietnamese government promulgated Decree No. 169/2018/ND-CP (Decree 169), amending Decree No. 36/2017/ND-CP (Decree 36) on medical device management. Decree 169 took immediate effect upon its issuance. The new regulations will have a great impact on the circulation of medical devices, especially foreign products, in Vietnam. Some of the major changes are set out below.Classification of Medical Devices

Content on demand and video on demand, also known as OTT (over-the-top) TV services, quickly generated interest and support from local users after entering Vietnam.

Following a recent announcement that Myanmar’s insurance market would soon open to foreign investment, on January 18, 2019, Myanmar’s Ministry of Planning and Finance issued a formal Request for Proposal (RFP) to life insurers, and Expression of Interest (EOI) Invitation Letters to life and non-life insurers, seeking to do business in Myanmar.Life Insurers—Proposals for 100% Foreign Owned Company

Thailand’s draft Personal Data Protection Act (PDPA), which was approved by the Council of State in December 2018, is now under consideration of the National Legislative Assembly (NLA), which will appoint an extraordinary committee to consider the details. Once the committee approves the draft, the NLA will consider their opinion, issue a final approval, and present it to the monarch to be signed into law.

Lawyers from Tilleke & Gibbins’ intellectual property team in Hanoi have written the Vietnam chapter of Practical Law’s IP in Business Transactions Global Guide, a high-level comparative overview of intellectual property laws and regulations across 34 jurisdictions.IP in Business Transactions focuses on business-related aspects of intellectual property, such as the value of intellectual assets in M&A transactions, and the licensing of IP portfolios. The topics covered include the following: