Integrity Legal

It recently came to this blogger’s attention that the Southeast Asian nation of Laos has seen something of a change in government. In order to provide further insight on this topic it may be prudent to quote directly from the website TMCNet.com:

VIENTIANE, Jun 16, 2011 (The Nation – McClatchy-Tribune Information Services via COMTEX) — Lao People’s Revolutionary Party chief Choummaly Sayasone has retained his position as the country’s president in a new ballot by the National Assembly while Thongsing Thammavong was re-elected as premier. President Choummaly, who was selected as party chief for the second term at the congress in March, told lawmakers he would employ all his ability, potential and skill to lead the country forward to stability, strength, happiness, unity, reconciliation, democracy and civilisation… [sic]

The administration of this blog asks that readers click upon the hyperlinks noted above to read further and gain context.

As a member of the Association of Southeast Asian Nations (ASEAN) Laos has a unique role in the political and economic interplay which seems to be constantly occurring in the context of both Southeast as well as Greater Asia. In a recent posting on this blog it was noted that the government of China is planning to build a high speed rail system in order link Thailand, Laos, and China together so as to facilitate travel and trade. It is hoped that the recent change in the Lao government will result in benefits for the people of Laos.

Meanwhile, in government news pertaining to the United States of America it recently came to this blogger’ s attention that the President of the United States may be on the receiving end of a lawsuit involving America’s relatively recent presence in Libya. To provide further elucidation it may be best to quote directly from the official website of Politico, Politico.com:

A bipartisan group of House members announced on Wednesday that it is filing a lawsuit charging that President Obama made an illegal end-run around Congress when he approved U.S military action against Libya. “With regard to the war in Libya, we believe that the law was violated. We have asked the courts to move to protect the American people from the results of these illegal policies,” said Rep. Dennis Kucinich (D-Ohio), who led the 10-member anti-war coalition with Rep. Walter Jones (R-N.C.)…The Kucinich-Jones group also includes Democrats John Conyers of Michigan and Michael Capuano of Massachusetts and Republicans Howard Coble of North Carolina, John Duncan of Tennessee, Roscoe Bartlett of Maryland, Ron Paul of Texas, Tim Johnson of Illinois and Dan Burton of Indiana.

The administration of this web log strongly encourages readers to click on the hyperlinks noted above to learn more from this story.

Those who read this web log with any frequency may have noted the fact that Representative Dennis Kucinich has recently been noted for his opposition to the so-called “Patriot Act” extension. As can be surmised, any lawsuit involving both federal legislators and the President is likely to be highly complex. Therefore, those interested in staying abreast of such issues are well advised to conduct thorough research in order to be fully informed about this developing story.

For related information please see: legal or US Company Registration.

Tags: ASEAN, ASsociation of Southeast ASian Nations, Business in Laos, China, Choummaly Sayasone, Dan Burton, Howard Coble, John Conyers, John Duncan, Lao National Assembly, Lao People's Revolutionary Party, Laos Business, Michael Capuano, President Obama, Rep. Dennis Kucinich, Rep. Walter Jones, Ron Paul, Roscoe Bartlett, Thongsing Thammavong, Tim Johnson, U.S military
Posted in American Business, ASEAN Business, Laos Business | No Comments »

It recently came to this blogger’s attention that there may be some geopolitical tensions arising in Asia in connection to issues associated with the use of water. To quote directly from a very insightful article apparently written by Santha Oorjitham of the New Straits Times and posted by chellaney on the blog Stagecraft and Statecraft:

[T]he lower Mekong states of Thailand, Cambodia, Laos, and Vietnam have a water treaty. India has water-sharing treaties with both the countries located downstream — Bangladesh and Pakistan. There are also water treaties between India and its two small upstream neighbours, Nepal and Bhutan. But China, the dominant riparian power of Asia, refuses to enter into water-sharing arrangements with any of its neighbours. Yet China enjoys an unrivalled global status as the source of trans-boundary river flows to the largest number of countries, ranging from Vietnam and Afghanistan to Russia and Kazakhstan…

The administration of this web log strongly encourages readers to click upon the relevant hyperlinks above in order to read more from this fascinating article. For readers who are unfamiliar with matters pertaining to Asia, particularly Southern Asia or Southeast Asia, it should be noted that water issues can be extremely important for Asian political actors and policy makers. Issues associated with water can have ramifications upon the economies, political institutions, and business environments in Asia and around the globe. As regional associations such as the Association of Southeast Asian Nations (ASEAN) and nations such as India and China begin to become increasingly important players on the international stage it stands to reason that water issues pertaining to Asia will be considered increasingly important by those seeking news and information about the area.

Meanwhile it also recently came to this blogger’s attention that the United States Citizenship and Immigration Service (USCIS) is taking measures in an effort to transform that agency into a more electronic environment compared to the current primarily paper-based environment in which it now apparently finds itself. To quote directly from a USCIS Executive summary as posted upon the website ILW.com:

U.S. Citizenship and Immigration Services (USCIS or Agency) is undertaking an agency-wide effort to move immigration services from a paper-based model to an electronic environment. This effort is known as USCIS Transformation. Transformation will deliver a simplified, Web-based system for benefit seekers to submit and track their applications. The new system is account-centric and will provide customers with improved service. It will also enhance USCIS’s ability to process cases with greater precision, security, and timeliness. In March 2011, the Office of Transformation Coordination and the Office of Public Engagement hosted a series of listening sessions and webinars with participants representing customers, attorneys and community-based organizations (CBOs). The purpose of these listening sessions was to inform USCIS about the benefits and challenges of moving to an electronic environment…

Those interested in learning further about this transformation from the USCIS Executive Summary are well advised to click upon the relevant hyperlinks above to find out more.

This blogger is personally pleased to see the United States Citizenship and Immigration Service (USCIS), an agency under the jurisdiction of the Department of Homeland Security, taking measures to create a more efficient system for adjudication of immigration and visa related petitions or applications. Frequent readers of this blog may have taken note of the fact that USCIS is the initial adjudicator of petitions for the K-1 visa (US fiance visa) as well as the CR-1 visa (US Marriage Visa) and the IR-1 visa. Hopefully, USCIS’s transformation will result in more streamlined processing of the aforementioned petitions.

For related information please see: US-Thai Treaty of Amity or Consular Processing

Tags: Afghanistan, ASEAN, ASsociation of Southeast ASian Nations, Bangladesh, Cambodia, CR-1 visa USCIS, Department of Homeland Security, IR-1 visa USCIS, K-1 visa USCIS, Kazakhstan, Laos, Nepal, Office of Public Engagement, Office of Transformation Coordination, Pakistan, Riparian, Riparian Power in Asia, Russia, Thailand, United States Citizenship and Immigration Service, USCIS, USCIS Transformation, Vietnam, Water, Water Rights, water treaty, water-sharing treaties
Posted in ASEAN Business, Cambodia Business, China Business, CR1 Visa, India Business, IR1 Visa, K1 Visa, K2 Visa, Laos Business, Myanmar (Burma) Business, Russia Business, Thailand Business, US Consulate ChengDu, US Consulate Chennai, US Consulate Guangzhou, US Consulate HCMC, US Consulate Hong Kong, US Consulate Hyderabad, US Consulate Kolkata, US Consulate Macau, US Consulate Mumbai, US Consulate Shanghai, US Consulate Shenyang, US Consulate Vladivostok, US Consulate Wuhan, us embassy bangkok, US Embassy Bangladesh, US Embassy Beijing, US Embassy Cambodia, US Embassy China, US Embassy Dhaka, US Embassy Hanoi, US Embassy India, US Embassy Islamabad, US Embassy Laos, US Embassy Nepal, US Embassy New Dehli, US Embassy Pakistan, US Embassy Phnom Phen, US Embassy Russia, US Embassy Vietnam, USCIS, Vietnam Business | No Comments »

It recently came to this blogger’s attention that the issue of inflation has been on the minds of policymakers in some of the member countries of the Association of Southeast Asian Nations (ASEAN). Officials is Laos and Cambodia were recently noted by media outlets in those jurisdictions to have commented upon this issue. To quote directly from the official website of the Vientiane Times, VientianeTimes.org.la:

The government is concerned about rising inflation in Laos, triggered by the high price of oil and food, which is expected to impact on the economy and poverty reduction efforts. Deputy Minister of Planning and Investment Dr Bounthavy Sisouphanthong said on Thursday the government is studying measures it can take to minimise the impacts on the economy and livelihoods of local people… Dr Liber warned that the government needs to respond to the situation quickly, as rising inflation will cause more serious impacts on the economy and efforts to reduce poverty levels. The government cabinet’s monthly meeting was held in Vientiane on April 25-26 and assigned the relevant sectors to study measures to minimise the impacts of rising fuel prices on the economy.

The administration of this web log asks readers to click upon the hyperlinks noted above to read further from this interesting article. Clearly, Lao officials are aware that inflation may become an acutely pressing issue at some point, but it would seem, at least for now, that measures are being considered to respond to issues pertaining to inflation in Laos.

Meanwhile, Laos is not the only ASEAN member nation whose officials are analyzing the issue of inflation. It would seem as though authorities in the Kingdom of Cambodia are also concerned about the possibility of inflation. To quote directly from the official website of the Phnom Penh Post, PhnomPenhPost.com:

Cambodia should expect price inflation of 6 percent this year, according to a United Nations report released yesterday, which government officials said was a tolerable level…Minister of Economy and Finance Deputy Secretary General Ros Seilava said at the report’s release in Phnom Penh that 6 percent inflation for 2011 was a manageable level. “A six to seven percent increase in inflation is expected this year, however to a certain level, this could be tolerated,” he said.

Again, the administration encourages readers to click upon the hyperlinks noted above to gain further perspective and insight into this issue in a Cambodian context from a well written and informative posting.

It would seem apparent that issues associated with inflation are likely to be of possible concern for those conducting business in Cambodia or business in Laos going forward. The same may also be true for those conducting business in the neighboring Kingdom of Thailand. In any case, inflation is an important economic issue that must be discussed. It is certainly a positive sign that officials in Laos and Cambodia are aware of these issues, but the ramifications of possible future inflation have yet to be fully realized. Issues associated with inflation are a cause for concern in countries such as the United States, but in the context of so-called “developing nations” this issue can be extremely important. Therefore, those interested in the issue of inflation in a Southeast Asian context may be prudent to continue following this developing story.

For related information please see: Thailand business.

Tags: ASEAN news, ASsociation of Southeast ASian Nations, Business in ASEAN, Business in Cambodia, Business in Laos, Cambodia news, Deputy Minister of Planning and Investment Dr Bounthavy Sisouphanthong, inflation, inflation in Southeast Asia, inflation news, Laos news, Minister of Economy and Finance Deputy Secretary General Ros Seilava, Phnom Penh, United Nations, Vientiane
Posted in ASEAN Business, Cambodia Business, Laos Business, News | No Comments »

Over the years this blogger has seen large numbers of tourists flock to the Kingdom of Thailand as well as the neighboring nations of Laos, the Union of Myanmar (referred to by some as Burma), Malaysia, and the Kingdom of Cambodia. At the same time, this blogger has also witnessed the metamorphosis of some of these tourists into entrepreneurs by remaining in some of these countries (as well as other jurisdictions in Greater Asia such as Indonesia, Vietnam, China, Taiwan, Singapore, Hong Kong, South Korea, Nepal, Macau, India, and Sri Lanka; to name only a few) in a business context for many years and; for some, even decades or a whole lifetime. Whatever the circumstances of those Americans Resident Abroad remaining in the region of economies increasingly being labeled by both the mainstream and alternative media outlets by their affiliation with the Association of Southeast Asian Nations (ASEAN) one thing is clear: the economies of Asia are set to expand at an incredible rate by relative historical comparison. Therefore, it stands to reason that there are likely to be more Americans doing business in these jurisdictions. This state of affairs is occurring at a time when the potential of the internet and the World Wide Web first noted little more than a decade ago is beginning to become fully realized by businesses large and small. As e-commerce becomes an evermore ubiquitous facet of virtually every enterprise’s business strategy it is becoming more clear that many business functions are increasingly being performed by businesses of all sizes online and, in some cases, these businesses are even being maintained from an entrepreneur’s home.

This phenomenon is interesting for this blogger to note from the perspective of an American who is resident in Bangkok, Thailand as the Thai shop-house business model of maintaining a residence and business premises within close proximity has lead to a thriving small business community in the vast metropolis that is Greater Bangkok. This thriving business community, coupled with many of the other positive factors associated with doing business in Thailand, has lead to a vibrant economy that remains conducive to further foreign investment by entrepreneurs and businesses seeking to derive economic benefits both in Thailand and throughout the Asian markets. Of possible importance to Americans resident abroad or those thinking of residing abroad are the issues noted above as well as those associated with ownership of Thai property or Thai real estate especially in the form of a Thai Condominium.

In Thailand, as well as throughout many jurisdictions in Asia, there are restrictions placed upon foreign ownership of real estate. Although there are provisions allowing for foreign ownership of Thai property in many cases it is difficult, if not impossible, for a foreign national to secure freehold title (referred to as Chanote title in Thailand) in Thai real property such as land. However, it may be possible for a foreign national in Thailand, such as an American Citizen, to conveniently secure freehold title to a Thai Condo if the provisions of various laws and regulations on this issue, such as the Thai Condominium Act, are adhered to. Meanwhile, a foreign national who owns a Condo in Thailand may be qualified to receive a Foreign House Registration Booklet (referred to as a Tabien Baan for Thais or a Foreign Tabien Baan, or Yellow Tabien Baan for foreign nationals). Taking the aforementioned factors into consideration, in conjunction with the fact that for American Citizens and American Companies in Thailand there may be benefits pursuant to the provisions of various legal instruments such as the US-Thai Treaty of Amity which may provide the privilege of virtually 100% ownership of a Company in Thailand with “National Treatment” for certain business undertakings, one is left with little doubt that there are tangible legal benefits which could be accrued to the favor of Americans resident in Thailand conducting business in the ASEAN region as well as the regions of Greater Asia. Therefore,  investing in what this blogger would refer to as a “Thai Pad” (which non-literally alludes to the IPad-like gadgets allowing for increasingly easy real time access to the internet as well as the exponentially beneficial combination of privileges accruing to owners of Thai property registered on a Yellow Tabien Baan in conjunction with the advantages which may be had for Americans resident abroad utilizing a Thai company certified under the US-Thai Amity Treaty) could prove to have been prudent by future analysts in both tangible as well as intangible terms.

For related information please see: US Company Registration.

Tags: American Resident Abroad, Americans Resident Abroad, Amity Treaty Thailand, ASEAN, ASEAN Business, ASsociation of Southeast ASian Nations, Business in ASEAN, company in Thailand, Condo in Thailand, IPad, Thai Company, Thai Condo, Thai Condominium, Thai Pad, Thai Property, Thai Real Estate, Thailand Business, Thailand Business Law, Thailand company, Thailand Condo, Thailand Condo Law, Thailand Condo Lawyer, Thailand Condominium, Thailand Property, Thailand Property Title, Thailand Real Estate, Thailand Real Estate Title, US Citizen Resident Abroad, US-Thai Treaty of Amity
Posted in American Business, Amity Treaty, ASEAN Business, Cambodia Business, China Business, Ecommerce, Laos Business, Myanmar (Burma) Business, Thailand Business, Thailand company, Thailand Condo, Thailand Property, Thailand Real Estate, Thailand Work Permit, US Business, US Company Registration, US LLC, US Taxes | No Comments »

Those who have been reading this blog with any degree of regularity may have noticed that the economies, polities, and geopolitics of the world are in something of a state flux. This is not to say that this is either a positive or negative thing as such events occur from time to time. Therefore, astute followers of such events must be careful about making rigid predictions about how such matters will play out in the future. That being stated, it has recently come to this blogger’s attention that representatives from the so-called BRICS countries (an acronym denoting Brazil, Russia, India, China, and, now apparently, South Africa) are  having a summit. To quote directly from a concisely written article by Christopher Bodeen, Associated Press, On Wednesday April 13, 2011, 5:37 am EDT as posted on Yahoo.com:

SANYA, China (AP) — The leaders of the world’s largest emerging economies gather this week in southern China for what could be a watershed moment in their quest for a bigger say in the global financial architecture.

Thursday’s summit comes at a crucial moment for the expanded five-member bloc known as the BRICS, which groups Brazil, Russia, India, China, and, for the first time, South Africa.

Chinese President Hu Jintao, Brazilian President Dilma Rousseff, Russian President Dmitry Medvedev, Indian Prime Minister Manmohan Singh and South African President Jacob Zuma will attend.

With the G-20 group of major economies seeking to remake parts of the global financial architecture, it’s time for the BRICS to test whether they can overcome internal differences and act as a bloc pursuing common interests.

The ramifications of this meeting could prove historic as the countries noted above, along with those that comprise the Association of Southeast Asian Nations (ASEAN), appear on track to become increasingly economically dynamic in the forthcoming years.     While reading this article, this blogger was especially impressed by this writer’s insightful analysis of the characteristics of the BRICS countries. To continue quoting directly from the aforementioned article:

The five countries are loosely joined by their common status as major fast-growing economies that have been traditionally underrepresented in world economic bodies, such as the International Monetary Fund and the World Bank.

All broadly support free trade and oppose protectionism, although China in particular has been accused of erecting barriers to foreign competition. In foreign affairs, they tend toward nonintervention and oppose the use of force: Of the five, only South Africa voted in favor of the Libyan no-fly zone.

At the time of this writing, the summit noted above would appear to be geared mainly toward economic matters or matters pertaining to the economic realm, but how increasing ties among these nations could impact affairs playing out in the international political arena remains to be seen.

On a related note, Stock Exchanges in some of the Nations which compose the Association of Southeast Asian Nations (ASEAN), including Thailand, have recently announced collaborations apparently referred to as ASEAN Brand Identity, an ASEAN Exchanges website, and ASEAN Stars. In following up on that story it would appear that the ASEAN Exchanges website is now live, to quote directly from the website AsiaToday.com:

Launched today was the ASEAN Exchanges website (www.aseanexchanges.org) that will feature the ASEAN Stars and other ASEAN centric products and initiatives giving investors an integrated single-window view into the ASEAN capital market; a market that has a combined market capitalisation of approximately USD1.8 trillion and participation of more than 3,000 companies. Some of these companies are the largest and most dynamic companies in the world including leaders in finance and banking, telecommunications, commodities, automotive manufacturing and other industrial sectors.

The administration of this blog highly recommends that readers click upon the hyperlinks above to learn more details about these issues and the various exchanges within the ASEAN region as the whole Southeast Asia area is quickly becoming a vibrant economic force both on a regional and global level.

Meanwhile, it should be noted that the nation of Laos has recently brought a Lao stock exchange online while Cambodia appears poised to take the same steps soon. Even the developing Union of Myanmar (referred to by some as Burma) has signaled interest in the opening of a Myanmar stock exchange. Whether such a development comes to pass remains to be seen. What is clear is that economic relationships are becoming increasingly stratified as economically dictated by the interests of the players in each of the markets of the world. Those interested in such matters are highly encouraged to conduct their own research and come to their own informed conclusions.

For related information please see: US Company Registration or Company in Thailand.

Tags: ASEAN Brand Identity, ASEAN Exchanges, ASEAN Stars, Brazil, Brazilian President Dilma Rousseff, Cambodia Stock Exchange, China, China Business, Chinese President Hu Jintao, company in Thailand, India, India Business, Indian Prime Minister Manmohan Singh, Laos Stock Exchange, Laos Stock Market, Myanmar Stock Exchange, Russia, Russia Business, Russian President Dmitry Medvedev, South Africa, South African President Jacob Zuma, Thailand Business, US Company Registration
Posted in American Business, ASEAN Business, Brazil Business, Cambodia Business, China Business, India Business, Laos Business, Russia Business, South Africa Business, Thailand Business, US Company Registration | No Comments »

Those following this blog or the many other sources of information available on the World Wide Web may have, no doubt, noticed the impact of the recent tragedy in Japan and the unfolding events springing therefrom. The tragic plight of the Japanese people was further highlighted recently by what appears to be a trend among many nations in their refusal to allow imports of foodstuffs from Japan. To quote directly from the website NAMnewsnetwork.org:

TOKYO, March 24 (NNN-BSS) — Australia, Canada and Singapore joined a list of countries shunning Japanese food imports Thursday as radioactive steam wafted anew from a disaster-struck nuclear plant, straining nerves in Tokyo.

The grim toll of dead and missing from Japan’s monster quake and tsunami on March 11 topped 25,000, as hundreds of thousands remained huddled in evacuation shelters and fears grew in the megacity of Tokyo over water safety.

The damage to the Fukushima nuclear plant from the tectonic calamity and a series of explosions has stoked global anxiety. The United States and Hong Kong have already restricted Japanese food, and France wants the EU to do the same.

The administration of this blog highly encourage readers to click on the above hyperlinks to read further about the situation in Japan. As the situation becomes more dire in Japan it would appear that even Japan’s key allies are unable to allow importation of possibly dangerous food products. The authorities in the Kingdom of Thailand appear to be taking preventative measures regarding importation of possibly tainted food as well. To quote directly from Bloomberg.com:

Thailand will check all fruit and vegetable imports from Japan’s main island, Honshu, before allowing their sale and will randomly screen other products such as fish, Pipat Yingseri, secretary-general of the Thai Food and Drug Administration, told a media conference today. The country hadn’t found any abnormal contamination since checks started in mid-March, he said.

As Thai, Hong Kong, Chinese, American, Australian, Canadian, and Singaporean authorities place restrictions on food imports, speculation abounds as to the response from other countries in the Asia-Pacific region as well as member States of the Association of Southeast Asian Nations (ASEAN). In discussions regarding the ramifications of the Japanese Crisis it may be best to remember the human elements which are constantly present in all of these regulatory and policy calculations.

As the situation in Japan continues to have global implications it remains to be seen how the various governments and international organizations around the world will react both politically and economically. One thing is clear, the crisis in Japan has the potential to completely reshape the geopolitical situation in Asia from both an economic as well as political perspective. How this change will impact both Thailand and the ASEAN community will be of increasing interest to the administration of this web log.

For related information please see: Legal.

Tags: American Business, ASEAN, ASEAN reaction to Japanese Crisis, ASsociation of Southeast ASian Nations, Australia, Canada, China, Hong Kong, Japan Crisis, Legal, Pipat Yingseri, Singapore, Thai Food and Drug Administration, Thailand, Thailand Customs, US Customs, USCBP
Posted in American Business, ASEAN Business, Australian Migration, Cambodia Business, China Business, Laos Business, News, Opinion, Thailand Business, Thailand Customs, US Embassy Japan, US Embassy Tokyo, USCBP | No Comments »

The tragic situation in Japan (a country recently plagued by Earthquakes, Tsunamis, Volcanoes, and finally Nuclear Meltdown)  is apparently causing other nations in East Asia and Southeast Asia to rethink their options with regard to the proliferation of nuclear power plants. A recent posting on the website AsiaOne.com discussed some of these issues in some detail. To quote directly from the website AsiaOne.com:

Singapore – Japan’s nuclear crisis is likely to prompt Southeast Asian states to look more carefully at their plans to tap atomic energy for power generation, the head of the regional bloc said Monday.

Association of Southeast Asian Nations (ASEAN) secretary-general Surin Pitsuwan said Japan’s struggle to prevent a reactor meltdown at the Fukushima nuclear power plant will have a “psychological” impact on some ASEAN members.

“They will continue to explore, but I think the sense of urgency will certainly be contained a little bit,” Surin told reporters on the sidelines of a regional economic conference in Singapore.

The administration of this blog highly encourages readers to click on the links above to read more of this article.

Clearly, a disaster of the magnitude of the events unfolding in Japan can have a tremendous “psychological” effect around the world, but what is interesting about the above quotation is the fact that the Association of Southeast Asian Nations (ASEAN), a regional organizations that is becoming increasingly important in geopolitical matters, seems to be uniformly ambivalent towards nuclear power as of the time of this writing. Meanwhile, the Kingdom of Thailand, an important member of the Association of Southeast Asian Nations (ASEAN), is rethinking its position on the issue of nuclear power. To quote directly from Eco-Business.com:

Thailand has frozen its plans to build its own nuclear power plants in the wake of the ongoing nuclear crisis in Japan following a series of meltdowns at the quake-hit power complex in Fukushima.

Thai Deputy Prime Minister Suthep Thaugsuban announced yesterday that the government would indefinitely halt all plans to build nuclear facilities in the Kingdom.

Again readers are highly encouraged to click on the links above to read more from this posting.

In this blogger’s personal opinion, this decision to “freeze” plans for a Thai nuclear plant is both prudent and necessary. The decision is prudent because it provides the Thai government and people the opportunity to watch the events in Japan unfold. This will provide the Thais with the opportunity to see the extent of the problem in Japan and this opportunity will allow Thai authorities to take a firsthand look at the possible dangers inherent in constructing and maintaining a nuclear facility. Such measures are necessary because failure to be prudent could be costly later, as evidenced by the situation in Japan. This nuclear disaster in Japan is obviously no one’s “fault,” but perhaps failure to take into consideration the fact that Japan, and the reactors present therein, is situated upon one of the most tectonically active locations on Earth may help to explain the nuclear disaster. At this time, fixing the blame for this tragedy should not be at the forefront of people’s minds as the brave Citizens of Japan struggle to overcome this situation, but evaluating the proliferation of nuclear facilities in the ASEAN with a critical eye may help avoid such tragedies in the Southeast Asia of the future.

As economic activity in the ASEAN region, China, Thailand, Laos and Cambodia expands it stands to reason that energy needs will remain an acute concern for the business community as well as governmental authorities, but such considerations would appear to be being weighed in light of the recent events in Japan, as well they should be.

For related information please see: business in China.

Tags: ASEAN, ASEAN Atomic Energy, ASEAN Business, Asian Business, ASsociation of Southeast ASian Nations, Atomic Energy in Asia, Burma Business, Cambodia Business, China Business, Fukushima, Japan Crisis, Japan Nuclear Meltdown, Laos Business, Myanmar Business, Nuclear Disaster, Nuclear Energy in Asia, Surin Pitsuwan, Suthep Thaugsuban, Thailand Business
Posted in ASEAN Business, Cambodia Business, Laos Business, Myanmar (Burma) Business, Thailand Business | No Comments »

It recently came to this blogger’s attention via Mr. Paul Huang at the Law Firm of Cenlaw in Shanghai, China that Chinese government officials have promulgated new rules for reviewing mergers and acquisitions in a national security context. To quote Mr. Paul Huang directly:

The State Council of China has laid out long-awaited rules and procedures for national security reviews of foreign mergers and acquisitions. The new acquisition rules will commence operation in March of 2011. Under the rules, the new National Security Review Committee led by China’s National Development and Reform Commission and the Ministry of Commerce that already review mergers under the Chinese antitrust rules will review mergers and acquisitions targeting key companies in the defense, agriculture, energy, resources, infrastructure, transportation and equipment-manufacturing and technology industries. It will apply a broad definition of national security, assessing the impact of deals on economic stability, social order and China’s ability to research and develop key technologies for national defense.

The administration of this blog encourages readers to check out the publications section of the Cenlaw website as it is filled with relevant and detailed information regarding the legal issues which can arise in the context of Chinese business.

As more international investors seek business opportunities in Asia, it will become increasingly necessary for such investors to comply with applicable local laws and regulations. The legal systems in Asian jurisdictions can be very similar or extremely different from Western legal systems. For example, the SAR of Hong Kong, China has a legal system which has its roots in the common law tradition. This state of affairs could be attributed to the fact that Hong Kong was once a Crown Colony of the United Kingdom. Meanwhile, so-called “Mainland China” has a legal tradition that is quite unlike any other jurisdiction in the world. At the same time, the Kingdom of Thailand in Southeast Asia has a legal system which draws upon many different legal traditions around the world while maintaining a uniquely Thai complexion.

Many Western stock exchanges have announced various plans to consolidate through multi-jurisdictional merger or acquisition. This state of affairs will likely raise increasingly complex legal issues as business transactions increasingly occur in a transnational context. As Southeast Asia sees the creation of new stock exchanges in countries such as Laos and Cambodia. It appears increasingly likely that the legal systems in those countries will be of ever increasing interest to international investors seeking information about doing business in those jurisdictions. It will be interesting to follow these developments as business in China and the countries which comprise the Association of Southeast Asian Nations (ASEAN) become increasingly dominant in a global business context.

For related information please see: Laos Stock Exchange.

Tags: ASEAN legal, ASEAN M&A, Asian Stock Exchange, ASsociation of Southeast ASian Nations, Business in ASEAN, Business in Asia, Business in Cambodia, business in China, Business in Laos, Business in Thailand, Cenlaw, China Acquisition, China legal, China M&A, China Merger, M & A, Mergers and Acquisitions, Paul Huang, Thailand Acquisition, Thailand legal, Thailand M&A, Thailand Merger
Posted in Cambodia Business, China Business, Laos Business, Thailand Business | No Comments »

In a peculiar series of events, it would appear that some of the various United States are pondering the re-introduction of precious metals as a means and method of paying State government fees and other fees related to matters arising in an intrastate context. It would appear as though the Commonwealth of Virginia is taking the lead in this matter by proposing measures which could eventually lead to the State government adopting precious metals as the means of payment for State government services.

To quote directly from Jason Hamlin on the website marketoracle.co.uk:

In what could be the financial shot heard around the world, the state of Virginia is considering the establishment of a joint subcommittee to study whether the Commonwealth should adopt a currency such as gold or silver to serve as an alternative to the currency distributed by the Federal Reserve System in the event of a major breakdown of the Federal Reserve System.

This blogger found the proposed Virginia legislation using the Virginia.gov website. In order to understand where the States derive their authority to adopt precious metals for purposes of intrastate governmental fees it may be best to quote language from the proposed legislation directly from the Virginia.gov website:

WHEREAS, the Supreme Court of the United States in Lane County v. Oregon, 74 U.S. (7 Wallace) 71, 76-78 (1869), and Hagar v. Reclamation District No. 108, 111 U.S. 701, 706 (1884), has ruled that the States may adopt whatever currency they desire for the purposes of performing their sovereign governmental functions, even to the extent of adopting gold and silver coin for those purposes while refusing to employ a currency not redeemable in gold or silver coin that Congress has designated “legal tender”;

Those who understand the United States Constitution will no doubt be aware of the fact that the power to regulate intrastate affairs matters is not derived from the Federal government (nor the Supreme Court), but from the inherent sovereignty of the States themselves. The Supreme Court’s opinion on the matter is used to provide laypeople with insight regarding the Supreme Court’s position on this issue. As of yet, this legislation is still pending. However, those interested in this matter are well advised to check out the links above to find out more about the actual provisions of this legislation and the ramifications thereof.

It would appear that Virginia is not the only American State to ponder the adoption of precious metals as an alternative payment method for intrastate matters. Recently it came to this blogger’s attention that the state of Utah has seen similar proposed legislation. To quote directly from an article by Alex Newman on the website thenewamerican.com:

Under the proposed legislation, introduced late last year for the upcoming legislative session, the state government would be authorized to collect and return taxes and fees in precious metals. Additionally, Utah’s government could use gold and silver in connection with any intrastate transaction. But of course, it would be entirely up to citizens whether they preferred to use precious-metals coins or U.S. dollars…

In 2009, Federal legislation (H.R. 4248: Free Competition in Currency Act of 2009) was introduced by Representative Ron Paul which would have provided more currency options to those in the jurisdiction of the United States of America. However, this legislation failed to be enacted. To quote directly from govtrack.us:

This bill never became law. This bill was proposed in a previous session of Congress. Sessions of Congress last two years, and at the end of each session all proposed bills and resolutions that haven’t passed are cleared from the books. Members often reintroduce bills that did not come up for debate under a new number in the next session.

As the United States of America is composed of 50 sovereign States as well as the Federal government the Federal legislature would be required to pass legislation regarding currency usage for matters falling under the Federal bailiwick, but State matters are dealt with exclusively by State legislatures. Clearly, the ultimate outcome for State legislation such as that noted above has yet to be determined. However, it would appear that there is more support for adopting precious metals for payment of government fees at the State level compared to the Federal level. That said, the future of both issues is uncertain.

Should legislation similar to that noted above be adopted by one or more of the United States, then this could have tremendous implications for the political-economies that compose the Association of Southeast Asian Nations (ASEAN) or are geographically located within Greater Asia. Companies from Asia doing business in the USA may need to make some currency adjustments should business interests compel presence in a State which has adopted specie or precious metals as a method of paying State government costs and fees.

For related information please see: Stock Exchange Mergers

Tags: adoption of precious metals, currency, Federal Reserve, Federal Reserve Bank, Federal Reserve Notes, Fiat Currency, Free Competition in Currency Act of 2009, Gold, Gold bullion, Gold Standard, H.R. 4248, Hagar v. Reclamation District No. 108, HOUSE JOINT RESOLUTION NO. 557, interstate commerce, intrastate commerce, intrastate currency legislation, Lane County v. Oregon, Sound Money, specie, State currency legislation, States' Rights, The Sound Money Act, The Utah Specie Tender Act of 2011, Utah, Virginia
Posted in American Business, Cambodia Business, China Business, Laos Business, States' Rights, Thailand Business, US Constitution | No Comments »

It recently came to this blogger’s attention that many of the Stock Exchanges around the world are in open discussion regarding possible merger. It would appear that many of the companies which operate various bourses around the globe are keen to exploit the efficiencies and opportunities which could arise as a result of multi-jurisdictional trading. This is even true in the case of the United States of America as the New York Stock Exchange (NYSE) could be merged with an exchange in Frankfurt, Germany. The official website of America’s National Public Radio has more information regarding this issue. To quote directly from NPR.org:

The company that operates the New York Stock Exchange could soon be acquired by a European company in a deal that could be announced as soon as next week.

NYSE Euronext, the company that owns the New York Stock Exchange and stock and derivatives markets throughout Europe, has confirmed it’s in advanced talks with Deutsche Boerse, which owns the Frankfurt Stock Exchange. The deal would create the world’s largest financial exchange, with headquarters in both Europe and the U.S.

Those reading this blog are encouraged to go to the posting noted above to read the full story.

It should be noted that the United States is not the only country whose stock market is contemplating merger with that of a foreign jurisdiction. It recently was announced that the Canadian Stock Exchange (TMX) and the London Stock Exchange (LSE) are in talks about entering deals to merge those two securities exchange platforms. The Financial Times has been reporting on this state of affairs over the past several days. It would appear that the initial enthusiasm that erupted from the announcement that the Canadian and London Exchanges may be merging was overshadowed by the more recent announcement regarding the NYSE and the German Bourse. To quote directly from the official website of the Financial Times, FT.com:

The limelight may have rapidly moved to the US and Germany but those behind the merger of the London Stock Exchange and TMX, operator of Canada’s largest bourse, insist it was the right deal to do…

The deal, which will create a company worth more than $5bn (£3.1bn), is intended to create the world’s leading cash equities platform for mining companies, as countries including Brazil, China and Mongolia look to exploit their natural resources.

Those seeking further information on this topic are well advised to visit the Financial Times posting noted above.

This blogger was interested when reading the above cited story because the country of Mongolia would appear interested in having their business interests represented on a British-Canadian exchange rather than an exchange in Asia. Mongolia’s desire to acquire investment capital may have been “trumped” by worries that listing on an exchange in Asia would run counter to the country’s strategic long term geopolitical interests.

It should be noted that the American, Canadian, British, and German stock exchanges are not the only ones which have been discussing possible merger. In fact, the Australian Securities Exchange and the Singapore Stock Exchange have been working out the details of a merger for months. The announcements from the North American, British, and European exchanges regarding possible merger may be a catalyst for the Australian and Singaporean exchanges to conclude their merger discussions more quickly. To quote directly from a posting on the Sydney Morning Herald‘s official website SMH.com.au:

A RUSH of merger proposals among the world’s biggest stock exchanges over the past two days is expected to increase pressure on Canberra to approve Singapore Stock Exchange’s $8.4 billion move on the Australian Securities Exchange.

But with the trans-Atlantic deals designed with an eye to overcoming political concerns, Singapore could be forced to restructure its proposal to give the ASX a greater role in any tie-up.

The administration of this web log encourages readers to visit the posting cited above in order to get the full details of the proposed merger between the Singapore Stock Exchange and the Australia Securities Exchange.

There have been a great many announcements regarding stock exchanges in Southeast Asia. Recently, it was announced that the small Southeast Asian nation of Laos was opening a stock exchange to trade Lao securities. Apparently, the Laos Stock Exchange has been operating smoothly since its opening. Meanwhile, it has also been noted that the Southeast Asian nation of Myanmar (also referred to by its former name, Burma) is contemplating the establishment of a Burmese Stock Exchange. However, it remains to be seen whether or not this idea will actually come to fruition as Myanmar remains the subject of sanctions and there are many who believe that the country must deal with humanitarian issues prior to undertaking economic programs such as the establishment of a Burmese Bourse. In fact, there are some who argue that so long as Western sanctions remain imposed against Burma that it will be unlikely that an exchange will be opened in that country. That said, anything could happen and the actual establishment of a Burmese stock exchange remains to be seen.

More concrete plans for the opening of a stock exchange appear to be taking shape in the Southeast Asian nation of Cambodia as further steps have been taken toward the proposed opening of a Cambodian Securities Exchange in mid-2011. The following was quoted directly from the official website of the Phnom Penh Post, PhnomPenhPost.com:

PHNOM Penh Securities opened its doors yesterday, becoming the third of seven approved underwriters to open ahead of the planned launch of the Cambodian stock exchange later this year.

Chairman of the firm, Kay Vat, said a key focus of the business would be guiding foreign firms planning to invest in the Kingdom’s listed companies.

Those wishing to learn more about the proposed Cambodian Stock Exchange are well advised to visit the Phnom Penh Post website noted above.

In other postings on this blog it was noted that the Cambodian Exchange is set to commence trading on or around June of this year. At present, there does not appear to be any talk of a merger between the Thai Stock Exchange (often referred to as the SET) and that of any other nation. Furthermore, Chinese officials do not seem particularly predisposed to any type of multi-jurisdictional merger between those exchanges operating in China and those operating in other countries. However, those following this issue should resist the urge to completely rule out such a possibility, but it seems unlikely in the near future as Thai and Chinese officials do not seem poised to make such an announcement.

Stock Exchanges remain an effective tool for countries wishing to attract foreign capital as many foreign investors enjoy the transparency and greater efficiency that comes from trading on an open exchange. That said, the impact from the  “ripple effect” that may result from the merger of the Canadian, American, British, and German Exchanges remain to be seen as the effect of such mergers could reverberate in the economies that make up the Association of Southeast Asian Nations (ASEAN).

American individuals or American companies conducting business abroad should note the fact that all Americans (both natural persons and corporate entities) are required to adhere to the provisions of the United States Foreign Corrupt Practices Act (FCPA). The Foreign Corrupt Practices Act (FCPA) is a piece of legislation which attempts to regulate the activity of Americans abroad in a business context. The act is designed to decrease the incidents of graft and corruption perpetrated by Americans doing business abroad. American businesses and individuals investing or doing business abroad may find the assistance of an attorney useful when attempting to comply with the FCPA in an international context.

For related information please see: Thailand Company or US Company Registration.

Tags: ASEAN, ASsociation of Southeast ASian Nations, ASX, Australian Securities Exchange, Bourse News, Cambodian stock exchange, Canadian Stock Exchange, Deutsche Boerse, German Stock Exchange, Global Bourse News, Global Stock Exchange News, London Stock Exchnage, LSE, New York Stock Exchange, NYSE Euronext, SGX, Singapore Stock Exchange, Stock Exchnage News, TMX, World Bourse News, World Stock Exchange News
Posted in Cambodia Business, China Business, Foreign Corrupt Practices Act (FCPA), Laos Business, Myanmar (Burma) Business, Thailand Business, US Business | 1 Comment »