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Indonesia: Regulation on Shell Companies Issued

(Aug. 29, 2016) On August 19, 2016, Indonesia’s Ministry of Finance issued a regulation designed to support the tax amnesty program already adopted by the House of Representatives at the end of June under Law No. 11 on Tax Forgiveness. The amnesty program is aimed at encouraging the repatriation of Indonesian assets from abroad. (Ayomi […]

Singapore/Sri Lanka: Development Agreement Signed

(July 26, 2016) On July 18, 2016, Singapore and Sri Lanka concluded a Memorandum of Understanding on investment by Singaporean businesses in Sri Lanka. The pact was signed by International Enterprise (IE) Singapore, a government agency, and the Ministry of Megapolis and Western Development of Sri Lanka; it is the first MOU signed between Sri […]

Mongolia: Agenda for Autumn 2015 Session of Parliament

(Nov. 7, 2015) On September 20, 2015, the Chairman of the Great State Hural (Parliament), Zandaakhuu Enkhbold, gave a presentation on Mongolia’s economy to the American Chamber of Commerce in UlaanbaatarUlanbatar. Part of his remarks covered the fall agenda for the Great State Hural. Aside from what he termed “the usual suspects” – the 2016 […]

Cambodia: Protest Supports Villagers Challenging Foreign Forest Concession

(Sept. 25, 2015) On September 22, 2015, a group of approximately 100 Cambodians from the Phnong ethnic group rallied to support five members of the group who were questioned in court and then released. The issues involved were claims of illegal logging and a land dispute in Kratie Province of eastern Cambodia. The provincial court […]

Ghana: Parliament Passes Revised Law Governing Investments

(July 30, 2013) On July 18, 2013, Ghana’s Parliament adopted the Ghana Investment Promotion Centre Bill 2013, which, if signed into law by Ghana’s President, will introduce changes to the country’s investment laws and institutions. (Parliament Passes GIPC Bill, GHANA BROADCASTING CORP. (July 24, 2013); Ghana Investment Promotion Centre Bill, Parliament of Ghana website (July […]

Burma: Amended Foreign Investment Law Published

(Nov. 28, 2012) On November 1, 2012, the Pyithu Hluttaw, Burma’s Parliament, passed amendments to the Foreign Investment Law that it adopted just two months ago. President U Thein Sein, who had recommended that the Law be revised, signed the revisions into law on November 2, and the amended legislation was published the following day. […]

Burma: New Foreign Direct Investment Law Adopted

(Sept. 12, 2012) On September 7, 2012, the Pyidaungsu Hluttaw (Assembly of the Union, the parliament of Burma) approved a new Foreign Investment Law, after several months of parliamentary debate and adjustments to the draft legislation “as proposed changes have gone back and forth between the assembly and the president’s office.” (Aung Hla Tun, Myanmar […]

China: Revision of Catalog of Industries for Foreign Investment

(Feb. 23, 2012) On December 24, 2011, China's National Development and Reform Commission (NDRC) and the Ministry of Commerce of China jointly issued the revised Catalog of Industries for Guiding Foreign Investment (Waishang Touzi Chanye Zhidao Mulu (2011 revision) [in Chinese], Central People's Government (CPG) website (Dec. 29, 2011)), to be implemented from January 30, […]

North Korea: Foreign-Funded Business and Banking Laws Amended

(Feb. 17, 2012) The Democratic People's Republic of Korea (North Korea) amended its law on registration of businesses that have foreign funding. The change came via a decree issued on December 21, 2011, by the Presidium of the Supreme People's Assembly. The 34-article law covers registration of the founding, residence, taxation, and customs payments of […]

China: New Rules on Foreign Direct Investment with Renminbi

(Dec. 22, 2011) Foreign investors, including those from Hong Kong, Taiwan, and Macao, are now officially allowed to make direct investments in mainland China with offshore renminbi (RMB, Chinese yuan) funds. Although a pilot program of RMB settlement for cross-border trade had been launched in 2009, Chinese regulators recently issued the following two rules to […]