Signing Ceremony on Memorandum of Understanding (MOU) with ILAWASIA Co.,Ltd.
Mr. Somphob Rodboon, on behalf of ILAWSIA Co.,Ltd. and Mr. Sovannarith HENG, Commercial Attaché of Cambodia are signing on Memorandum of Understanding (MOU) between The Royal Embassy of Cambodia to the Kingdom of Thailand and ILAWASIA Co., Ltd. In this regard, His Excellency Mr.Ouk Sorphorn, an Ambassador of The Royal Embassy of Cambodia and Mrs.LAY Chanrasmey, Counsellor, are eye-witness on this signing ceremony which held at Royal Embassy of Cambodia to the Kingdom of Thailand, on 16 October 2020.
The purpose of this MOU signing is to strengthen and facilitate the business and trade across Cambodia and Thailand. The engagement also appointed ILAWASIA as trusted legal consultancy service which encourages private sector for investment and increasing confidence of Cambodia-Thailand business community.
Thai and Cambodian investors can be contacted directly to Royal Embassy of Cambodia to the Kingdom and The Embassy undertakes to refer to all enquiries to ILAWASIA as legal consultant and business advisory in the areas of commercial contract, legal protection, labor management, dispute resolution, as well as legal compliances and risk management under laws and regulations of two countries, which will be brought on facilitation and encouragement of sustainable development goals.
Myanmar Government Implements Economic Relief Measures
Myanmar Government Implements Economic Relief Measures
11 May 2020
The Myanmar Government on 27 April 2020 released its COVID-19 Economic Relief Plan (CERP), which aims to mitigate the inevitable economic impact posed by COVID-19. The CERP’s seven Goals for responding to the crisis, each with detailed Action Plans, will impact all aspects of economy – from international trade and investment to private households and employment.
The seven Goals set out in CERP are as follows:
- Improving the macroeconomic environment
- Easing the impact on the private sector through improvements to the banking, investment and trade sectors
- Easing the impact on laborers and workers
- Easing the impact on households
- Promoting innovative products and platforms
- Strengthening the health-care system and
- Increasing access to the COVID-19 response financing including contingency funds
Key Action Plans of each Goal are briefly as follows:
1.Improving the macroeconomic environment
- Lower interest rates (by at least 3.0%) and lower minimum reserve requirement on banks have recently implemented by Central Bank of Myanmar (“CBM”).
- The CERP also prescribes that the CBM shall conduct credit auctions as necessary to inject more liquidity into the banking and financial sector.
2.Easing the impact on the private sector through improvements to the banking, investment and trade sectors
- Providing MMK 100 billion 1-year working capital loans to improve working capital of affected Myanmar Small and Medium Enterprise (“MSMEs”) in the CMP and hotel/tourism sectors at 1% interest rate per annum.
- Defer corporate income tax and commercial tax payments, due in March and June 2020, to September 2020
- Waiver of the 2% Withholding Tax on exports
- Exemption of customs duties, commercial tax, and specific goods tax imposed on the importation and distribution of medical supplies and products related to the prevention, control, and treatment of COVID-19
- Three- to six-month exemption from lease fees for impacted firms that have leased state-owned factories for manufacturing, and that have made regular payments in the past three months
- Permission for commercial banks to restructure and reschedule existing loans extended to SME businesses for longer repayment periods (up to a maximum of three years)
- Waiver of import licensing and FDA requirements, as long as the products are FDA approved in another country
3.Easing the impact on laborer and workers
- Extending healthcare benefits for unemployed social security members from six months to 1 year from the date of unemployment and medicine and travel benefits from six months to 1 year from the date of unemployment.
- Implementing labor-intensive community infrastructure projects for those laid off, or returning migrants.
4.Easing the impact on households
- Electricity tariff exemption
- Unconditional cash and in-kind transfers for vulnerable households
- Emergency rations through community-based food banks and association
- Negotiation with private financial institutions to give more flexibility related to interest and mortgage payments for households which are most negatively affected by the COVID-19 pandemic
5.Promoting innovative products and platforms
- Promoting the use of available mobile payment services and usage of e-Commerce and Social-Commerce Systems
6.Strengthening the healthcare system
- Immediately extending and improving quarantine centers/facilities
- Immediate importation of key medical products
- Improving preventive measures and health sector human resource capacity
- Upgrading existing health facilities
7.Increasing access to the COVID-19 response financing including contingency funds.
- Reallocation of Myanmar’s 2019-20 budget as much as practically possible up to 10% from all government entities to the COVID-19 Fund
- Improve budget flexibility and responsiveness through modernization of budget reallocation rules
- Increase access to COVID-19 -related development financing through acquiring significant increases in external development finance
The CERP also establishes clear and specific assessment indicator for each Action Plan. The form and content of the CERP suggest that Myanmar is well on its way to becoming a regular player on the stage of world economy. For businesses, Myanmar is certainly one to watch.
THE AUTHORS
ON YOUR MARK, GET SET, GO!
ILAWASIA – An Official Sponsor of DIP Mini Marathon 2020
Under the national agenda of combating counterfeits and piracy, the Thai Department of Intellectual Property (DIP) hosted on 1 March 2020 a mini marathon to raise general awareness on the importance of respect for IP rights and to promote the collective spirit among the various players on the Thai IP stage.
ILAWASIA is proud to have been an official sponsor of the event with the slogan,
“Don’t Buy, Don’t Sell, Don’t Use Counterfeits”.
Our Managing Partner, Mr. Somphob Rodboon, representing ILAWASIA
Translation Of Legal Document
Translation Of Legal Document
We provide an extensive service of litigation and dispute resolution. Our knowledge of the market, tremendous experience in representing clients for various and specialized litigation and dispute resolution matters, together with locally qualified lawyers, are a splendid combination ideally suited for crafting professional and precise legal strategies. Our expertise includes, but is not limited to, representing and advising clients in a civil lawsuit, a criminal lawsuit, a labor lawsuit, a family and heritage lawsuit, an international trade dispute, an intellectual property dispute, as well as proceeding with debt collection, debt negotiation and execution. Also, our practical negotiation demonstrates proficiency in mediating and reducing cost, to ensure the benefit of our clients to the utmost.
Visa, Work Permit & Notarial Service
Visa, Work Permit & Notarial Service
We provide an extensive service of litigation and dispute resolution. Our knowledge of the market, tremendous experience in representing clients for various and specialized litigation and dispute resolution matters, together with locally qualified lawyers, are a splendid combination ideally suited for crafting professional and precise legal strategies. Our expertise includes, but is not limited to, representing and advising clients in a civil lawsuit, a criminal lawsuit, a labor lawsuit, a family and heritage lawsuit, an international trade dispute, an intellectual property dispute, as well as proceeding with debt collection, debt negotiation and execution. Also, our practical negotiation demonstrates proficiency in mediating and reducing cost, to ensure the benefit of our clients to the utmost.
Intellectual Property
Intellectual Property
We provide an extensive service of litigation and dispute resolution. Our knowledge of the market, tremendous experience in representing clients for various and specialized litigation and dispute resolution matters, together with locally qualified lawyers, are a splendid combination ideally suited for crafting professional and precise legal strategies. Our expertise includes, but is not limited to, representing and advising clients in a civil lawsuit, a criminal lawsuit, a labor lawsuit, a family and heritage lawsuit, an international trade dispute, an intellectual property dispute, as well as proceeding with debt collection, debt negotiation and execution. Also, our practical negotiation demonstrates proficiency in mediating and reducing cost, to ensure the benefit of our clients to the utmost.
