The government of Thailand has made it clear that it intends to fully utilize public-private partnerships (PPPs) in order to implement the country’s upcoming infrastructure development goals. The adoption of the Private Investment in State Undertakings Act B.E. 2556 (2013) (PISUA) and the announcement of the Strategic Plan on Private Investment in State Undertakings in 2015 demonstrate the specific policy objectives the government intends to achieve through using PPPs.

Effective from January 1, 2017, all contracts to construct residential buildings will be subject to contract control under the Consumer Protection Act B.E. 2522 (1979) and the Royal Decree Prescribing Bases and Procedures in Relation to a Business that is Subject to Contract Control and Description of a Contract B.E. 2542 (1999).

Practical Law has published the 2016/17 edition of its Corporate Real Estate Global Guide, a high-level overview of commercial real estate laws and regulations in 23 jurisdictions worldwide. The Vietnam chapter of the guide was written by Vinh Quoc Nguyen, a senior attorney-at-law in Tilleke & Gibbins’ corporate and commercial group in Ho Chi Minh City. The Vietnam chapter covers the following main topics:

On June 29, 2016, the National Assembly of Vietnam passed a resolution to delay the implementation of Vietnam’s new Penal Code (“New Code”) allegedly due to the discovery of numerous errors contained within the New Code.As a result of the resolution, enhanced criminal liability for unlawful dismissals under the New Code will not apply until an amended version of the New Code takes effect. Until then, the provisions of the current Penal Code (“Current Code”), containing less severe penalties, will continue to apply.

The Payment of Wages Law 2016 (the “Law”) came into force earlier this year, repealing the old Payment of Wages Act 1936 (the “Old Act”). The Law sets out (amongst other things):The obligations on employers regarding the payment of employees’ wagesThe methods and time frames for paymentThe permissibility of deducting wagesThe duties and responsibilities of the Director General and investigating officers of the Factories and General Labor Laws Inspection Department (the “Department”) under the Ministry of Labor, Immigration and Population.

On November 29, the Office of Insurance Commission (OIC) in Thailand announced that it had approved, in principle, draft notifications that set out the criteria, procedures, and conditions for the issuing and offering for sale of both life and general insurance products through online channels.The key features of the draft notifications are as follows:   

The development of a renewable energy project requires, among a range of factors, engineers to design the facility, state-of-the-art equipment, and a reliable construction firm to implement the project. A key factor in a renewable energy project’s long-term success is devising an appropriate contractual framework to construct the facilities. This is a particularly important consideration, given the scale of many renewable energy projects and the financial sums at stake.  

In recent years, the Thai government has attempted to strike a balance between attracting investment and protecting consumer interests. On the one hand, it has tried to liberalize foreign investment, eradicate bureaucratic red tape, and introduce investment promotion and investor-friendly policies through tax and non-tax incentives. On the other hand, it has enacted a number of laws and regulations to enhance consumer protection.