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The transition from the Banking Executive Accountability Regime to the Financial Accountability Regime is due to take place on 15 March 2024 for the banking industry. Companies covered by the regime need to be aware of these changes and ensure relevant documentation, including relating to accountable persons and variable remuneration, is up to date.

The Vietnam Ministry of Public Security (MPS) published on 29 February 2024 its first version of the dossier proposing the development of the Law on Personal Data Protection (“PDP Law”) on the government’s official website for public consultation. This is one of the initial steps to kick off the drafting and enactment processes of the new Vietnam PDP Law.

On 7 February 2024, Enterprise Singapore and the Info-communications Media Development Authority launched the Generative AI Sandbox for small and medium-sized enterprises. Through the sandbox, SMEs will be able to receive funding support to experience Generative AI enterprise solutions over a three-month period. This initiative builds on Singapore’s existing efforts to strengthen the development and ecosystem of AI locally.

The terms “data” and “digital data” have prominently surfaced in the discussions of policymakers and policy advocates. The year 2024 may signify the start of a comprehensive transformation in the data policy landscape in Vietnam, with the proposals of several key laws.

On 30 January 2024, the Health Science Authority (HSA) announced it had seized over 1.12 million units of illegal health products and removed over 12,000 listings of illegal health products from local e-commerce and social media platforms in 2023 through targeted operations, intelligence sharing and joint enforcement efforts with local and overseas agencies.
Illegal health products include unregistered or counterfeit health products, as well as products with potent medicinal ingredients or banned substances illegally added to them.

Among other renewable power sources, rooftop solar (RTS) power has increasingly become an important power supply source in Vietnam in recent years. However, the implementation of the PDP8 demands some changes to policies and regulations on the development of RTS power. In this update, we provide an overview of the RTS power development in Vietnam from a regulatory and legal perspective, along with an analysis of key legal considerations for the development of new RTS power projects in Vietnam.

On 7 February 2024, the Thailand Board of Investment (BOI) issued several investment promotion measures under the announcements as follows:- 1) Investment Promotion Measure for Social and Local Development 2) Retention and Expansion Program 3) Relocation Program 4) Investment Stimulation Measure for Economic Recovery

On 25 January 2024, the State Council of the People’s Republic of China promulgated the Interim Regulations on Administration of Carbon Emissions Trading (“Regulations”), which will come into force on 1 May 2024.
The Regulations set out the regulatory regime over carbon emission allowance (CEA) in the mandatory carbon market, while the Administrative Measures for Voluntary Trading of Greenhouse Gas Emission Reduction (Trial), effective from 19 October 2023, regulate the China Certified Emission Reduction (CCER) in the voluntary carbon market.