Effective anti-corruption compliance programs are tailored for local jurisdictions. While bribery methods share common characteristics, different countries usually have their own business or cultural norms which impact corruption risks. In one country, for example, it may be common for bribes to be disguised as charitable contributions; while in another, political contributions are the favored method to make illicit payments.

Members of Tilleke & Gibbins’ Yangon office have contributed the Myanmar chapter to Practical Law’s Doing Business in … Global Guide.

The Business Collateral Act B.E. 2558 was enacted last year in the hopes of providing additional means for creditors to take collateral in order to secure primary obligations, such as amounts due under a loan agreement. Under section 7 of the Act, a “security receiver” (in other words, the secured creditor) must be a financial institution or other person as prescribed in Ministerial Regulations.

Thailand remains a favored hotspot for foreign direct investment (FDI) despite regional and global economic fluctuations. The country has focused intensely on efforts to consistently improve its standing as an FDI destination, gaining popularity among foreign investors because it offers an attractive and modern legal framework, reasonable input costs and a favorable geographic location.

Foreign investment is, once again, flooding into Vietnam. According to The Economist, foreign direct investment hit a record high in 2015. The Vietnamese government has taken steps to improve the investment environment by recently revising the Enterprise Law (2014), the Investment Law (2014), the Land Law (2013), and the Law on Real Estate Business (2013), among others. And if the Trans-Pacific Partnership is ratified, Vietnam will become an even more attractive investment locale, as additional trade barriers are lifted.

Since the National League for Democracy (NLD) won the election in November 2015, the new government cabinet has pledged to implement major reforms to Myanmar’s political, legal, economic, social, and democratic developments, in hopes to undo years of economic stagnation caused by over half a century of military governance.

Cambodia is becoming an increasingly attractive destination for foreign investment. Since 2011, Cambodia’s GDP has grown by at least 7 percent per year, and the Asian Development Bank expects this growth to continue in the coming years. Cambodia has one of the fastest-growing economies in Asia, and the country has been dubbed “Asia’s New Tiger Economy” by the Asian Development Bank.

With neighboring economic powerhouses such as Thailand, Vietnam, and Myanmar, the Lao People’s Democratic Republic (Laos) is often overlooked as a burgeoning economy in the ASEAN region. Laos is situated in a unique geographical location. It shares borders with Thailand, Vietnam, Myanmar, Cambodia, and China, meaning that the country has great potential to become a vibrant hub, linking China to other ASEAN countries.