Author: dev_

On May 30, an initiative presented by the Science and Technology Committee of the Chamber of Deputies was analyzed. It is the bill “On streamlining public procedures” (Zero Paper), which aims to streamline the bureaucratic processes of procedures in public institutions, gradually reducing the use of paper until it is completely eliminated.

If successful, this law would benefit not only the environment but also citizens. Public procedures would be faster, more transparent and less costly, and could be carried out without the need to travel to the institution in question. This would benefit, above all, those people who until now have had to travel to the capital from the interior of the country just to carry out procedures.

In addition, since the data would be stored out of the reach of manipulation from the very beginning of the process, there would be more transparency in the whole process. In addition, all internal procedures of state entities would be carried out in digital format, including:

- Permits

- Proceedings

- Memorandums

- Notes

- Schedules

- Files

- Circulars

After the hearings, the intention of its promoters is that this project will pass through the different committees of the Lower House, accompanied by MITIC, until it is approved.

Source: Paraguayan Information Agency

The CLA Arbitration Week, sponsored by Vouga Abogados and supported by the participation of its associates in the conferences and activities, was held in Asunción from May 27 to 31. The main event, the Latin American Arbitration Conference, has been held annually for 11 years and was held this year in Paraguay between May 30 and 31, with the presence of the world's leading arbitration experts.

This edition was attended by icons of international commercial arbitration such as João Bosco Lee (Curitiba), Roque Caivano (Buenos Aires) and Paul Arrighi (Montevideo) and European experts such as Yves Derains (Paris) and Gary Born (London). The topics addressed ranged from party arbitrators, the connection between international arbitration and private international law, the impact of technology on arbitration, among others.

The inaugural conference, entitled “The Past, Present and Future of International Arbitration” and presented by the famed Gary Born - widely recognized as the world's leading authority on international commercial arbitration and international litigation - was moderated by our associate Eusebio López.

Likewise, the first panel of the day, dedicated to young professionals who stand out in the area of arbitration -CLA under 40- and which presented a procedural negotiation simulation, was moderated by our associate Georg Birbaumer Vera.

If you would like to know more about our arbitration practice, please do not hesitate to contact Eusebio Lopez. elopez@vouga.com.py and Rodolfo G. Vouga rgvouga@vouga.com.py.

Vouga Abogados assisted Fideicomiso Fortune Asunción in the structuring of the financing for up to US$ 15 million, granted by Banco BASA S.A., under the autonomous patrimony of said trust, constituted for the execution and development of the construction project of the JADE PARK Building.

In order to ensure the payment of the financing obtained, a new Administration and Source of Payment Trust has been created, whereby Fideicomiso Fortune Asunción as trustor, represented by Banco Atlas S.A. as trustee, has proceeded to transfer certain collection rights arising from unit purchase and sale agreements entered into with buyers of the JADE PARK Building to the autonomous assets managed by the trustee Finlatina S.A. de Finanzas, with Banco BASA S.A. as beneficiary.

Should you require further information on the creation of funds and trusts for investment in the real estate sector, please do not hesitate to contact Cynthia Fatecha (cfatecha@vouga.com.py).

The Ministry of Labor, Employment and Social Security (MTESS) and Equifax (owner of Informconf) signed an agreement to work together and eliminate the barrier that credit and commercial information represents when it comes to accessing jobs. The objective is that the information of people with debts will no longer be transmitted to labor intermediaries.

In addition, the company will work on financial education and the MTESS agreed to provide information on employers who do not comply with labor rights. Thus, it is also intended to reinforce education on the advantages of formalizing employment and the correct use of credit history.

The goal of this agreement is to achieve a control and compliance system that benefits both employers and workers.

For more information about the correct fulfillment of labor obligations, do not hesitate to contact Perla Alderete. palderete@vouga.com.py and Walter David Vera wvera@vouga.com.py.

Source: Paraguayan Information Agency

On May 10, what the authorities called the “event of the half-century” took place: the groundbreaking ceremony for the construction of the second bridge over the Paraná River between Paraguay and Brazil. This work will increase the competitiveness of the maquiladora industries in the area, considering that 87 of the 179 maquiladora industries operate in Alto Paraná and 75% of their production is moved by land.

This sector employs 6,654 people and records an export above USD 200 million, with the potential to continue growing. In fact, exports for the month of April 2019 amount to USD 66,584,258, which is 10% more than the same period last year.

The day before, the II Meeting of Maquiladores in Alto Paraná was held, in which the advantages that the construction of the bridge will bring to the industry were discussed. Among them, it is estimated that when the bridge is inaugurated -in three years- it will considerably increase not only commerce but also the tourist and hotel offer, transforming the zone into an industrial area and improving the quality of life of the people.

The authorities added that, by October, the operational processes related to the maquila will be automated to provide better service, control and work for dispatchers. All of this is aimed at digitizing processes, saving time and money.

For further information about the maquila regime, please contact Rodolfo G. Vouga rgvouga@vouga.com.py and Andres Vera avera@vouga.com.py.

Source: Ministry of Industry and Commerce, Paraguayan Information Agency.

The Ministry of Environment and Sustainable Development (Mades) convened all sectors of society to proceed with the study and elaboration of an Environmental Code. In this sense, it expects to count on the collaboration of private and public institutions, representatives of the civil society, the legislative power, the academic and productive sectors, among others.

The objective is to involve all sectors in a participatory manner with the launching of the code elaboration process. The intention of the authorities is that everyone can make their contributions and have the opportunity to make suggestions and give their opinion on the environmental laws in force and their application.

The ultimate goal is to bring together in a single regulatory body all the provisions governing environmental management.

For further information or assistance on environmental issues, please contact Walter David Vera wvera@vouga.com.py and Marta Martinez mmartinez@vouga.com.py.   

Source: Paraguayan Information Agency

The Bolsa de Valores y Productos de Asunción S.A. (BVPASA) has issued, with the prior approval of the Comisión Nacional de Valores (CNV), the following resolutions:

1. Resolution BVPASA No. 1878/19, which establishes the Regulations of the Bolsa de Valores y Productos S.A. as an Institution authorized to keep the Register of Deeded Shares.

2. Resolution BVPASA No. 1879/19, which establishes the Operating Regulations of the Bolsa de Valores y Productos de Asunción S.A. for the registration, deposit, custody, trading, clearing and settlement of dematerialized shares.

With the issuance of the aforementioned regulations, the Electronic Register of Book-Entry Shares of the BVPASA was authorized by the CNV to keep such register, and the Sociedades Anónimas Emisoras de Capital Abierto (S.A.E.C.A.) may proceed with the dematerialization of their shares, which will be represented by book entries, through their dematerialized issuance in the primary market or through the conversion of the physical or paper securities into book entries.

The aforementioned resolutions are evidence of a regulatory update that will strengthen the Paraguayan Securities Market, therefore it is important to highlight their issuance.

It is worth mentioning the active participation of Cynthia Fatecha, member of Vouga Abogados, in advising the Bolsa de Valores y Productos de Asunción S.A. in the issuance of the aforementioned resolutions.

Please find attached Resolutions N° 1878/19 and 1879/19 of the Bolsa de Valores y Productos de Asunción S.A., and if you have any questions or require clarification, please do not hesitate to contact Cynthia Fatecha (cfatecha@vouga.com.py).

As a Paraguayan member of the prestigious Employment Law Alliance (ELA), Vouga Abogados is pleased to invite all its clients and colleagues to participate free of charge in the Webinar “Employee Mobility & Family Migration: What HR Executives Need to Know” to be held on May 22, 2019.

ELA presents top lawyers from the Latin American region for a roundtable discussion on topics including:

• In-depth analysis of immigration and what human resources executives should know when hiring international employees.
• Short-term and long-term work assignments, employee and family migration, how to verify income requirements and much more.

As a Paraguayan member of the prestigious Employment Law Alliance (ELA), Vouga Abogados is pleased to invite all its clients and colleagues to participate free of charge in the Webinar “Protection of Trade Secrets” to be held on May 21, 2019.

ELA presents top attorneys for a roundtable discussion on topics including:

• Identification of effective measures and remedies to enforce trade secrets under European law.
• Measures to protect the company's interests through confidentiality clauses, restrictive covenants and more.

Last May 2, the “Trust Services for Electronic Transactions” bill was presented, which plans to harmonize Paraguayan regulation with other standards such as Regulation (EU) No. 910/2014 of the European Parliament and of the Council. It is a project that intends to regulate issues such as electronic identification, certified electronic delivery services, website authentication, electronic seals, electronic transmissible documents, among others.

The project was submitted by the Ministry of Industry and Commerce, as enforcement authority of the Digital Signature Law and within the framework of the objectives of the “Paraguay Digital” project. If approved, Law No. 4017/2010 “On the legal validity of electronic signatures, digital signatures, data messages and electronic files” will be repealed.

On the other hand, the head of the Ministry of Public Health and Social Welfare also expressed his support for technology. In the health field, it would represent an improvement in the care and administration sectors. In fact, he stated that an electronic signature would soon be available for the use of an electronic vaccination certificate.

All these changes will require a regulatory framework to carry forward the implementation of technology towards the goal of achieving “e-Government”.

Sources: Ministry of Industry and Commerce and Ministry of Public Health and Social Welfare.