Cambodia’s Ministry of Labor and Vocational Training (MLVT) has introduced two new Prakas (implementing guidelines), one of which seeks to clarify recent amendments to the country’s Labor Law pertaining to seniority payments, and the other establishes a new requirement to make salary payments twice per month. Below we set out full details of the changes.Prakas No. 443 on Seniority Payments

Article 20 of Indonesia’s Patent Law requires patent owners to either manufacture their patented products in Indonesia or use their patented processes in the country.  Although controversial, the purpose of this working requirement is to drive foreign technology transfer, investment and stimulate local employment opportunities within the country.If an invention is not worked within 36 months of grant, a third party can file an application for a compulsory license pursuant to Article 82, which is reproduced below:

Myanmar is an attractive destination for foreign investors due to its low labor costs and growing economy. While M&A activities have thus far been limited, they are expected to increase in the near future as the country continues to modernize its commercial legal framework.

With its rapidly growing economy, continuing divestment of state-owned enterprises, and loosening of foreign ownership limits, Vietnam has increasingly become a target for foreign investors’ M&A activities. However, as regulations and formalities for M&A differ from jurisdiction to jurisdiction, investors contemplating transactions in Vietnam would be well advised to study the country’s unique characteristics before proceeding.

Reinsurance Framework

Thailand’s Payment System Act B.E. 2560 (2017), which came into force in April, 2018, reclassified payment systems and services into three categories—highly important payment systems, designated payment systems, and designated payment services—with subsequent regulations prescribing the systems and services that fall within each category.

Myanmar’s Insurance Business Regulatory Board has recently announced a program of reform for Myanmar’s insurance sector, expected to allow foreign insurers to do businesses in Myanmar in the very near future.The program of reforms is expected to open the following activities, among others, and within limited conditions, to foreign insurers: