The Vietnamese government is in the process of amending the Law on Atomic Energy, originally issued in 2008, to harmonize with several newly enacted laws, establish a comprehensive regulatory framework governing nuclear energy in Vietnam, and serve as a legal basis to foster the implementation of ongoing and future nuclear projects in the country. The Ministry of Science and Technology has been assigned to lead the drafting of the amended Law on Atomic Energy. The second draft of the amended law (the “Draft”) was released in late February 2025 for public consultation to gather feedback from the community and stakeholders. Key Points The Draft introduces new regulations to ensure high standards of safe and secure use of nuclear materials, radioactive sources, medical and industrial irradiation, mining and processing of radioactive ores, and radioactive waste management, as well as requirements for enhancing capacity to prepare for and respond to radiation incidents and nuclear incidents. In addition, the Draft emphasizes environmental protection, public health in nuclear energy projects, and support for development and advancing nuclear technology capabilities in Vietnam together with enhancing international cooperation in this field. Below are some key points of the Draft: Approval and licensing requirements for nuclear facilities: The Draft requires investors or owners of nuclear facilities to obtain several permits and approvals as regulated by the government before implementation of construction or operation. Reporting obligations: In addition to periodic reports on operations, safety measures, and compliance with regulations, nuclear facilities are required to make, maintain, and update a number of their regular records related to radiation and nuclear safety for ad hoc reports when required by the competent authorities. In this respect, any incidents or deviations from standard procedures must be reported immediately to the relevant authorities. Training and certification: Personnel working in nuclear facilities as

As Vietnam continues its government restructuring, including the merging of several key ministries, the country is signaling that mergers of provinces could be next. Conclusion 126-KL/TW of the Politburo and Secretariat, issued on February 14, 2025, sets out several tasks for continuing to streamline the political system in 2025, notably including, among others, the following: Elimination of intermediate administrative levels, and mergers of provincial units: The Government Party Committee is tasked with researching and planning for the elimination of intermediate administrative levels (district levels); reorganizing the commune level with structures, functions, duties, powers, and responsibilities aligned with the new organizational model; and proposing the merging of some provincial administrative units. A report to the Politburo is required by Q3 2025. Reorganization of police structure: The Central Public Security Party Committee is tasked with leading and coordinating the implementation of a three-tier police organization, eliminating the district-level police. Judicial system reforms: The Central Party Committees of the Supreme People’s Court and the Supreme People’s Procuracy are tasked with researching and advising on the organizational model for courts and procuracies, and proposing amendments and supplements to relevant party mechanisms and state laws, with the aim of eliminating the district level. A report to the Politburo is required by Q2 2025. Implications of Merging Provinces The merging of provinces could bring positive impacts as well as new challenges. The expected benefits include: Administrative efficiency and cost saving: Reducing the number of administrative units could lead to more efficient governance and decision-making processes, as well as lower administrative costs due to fewer government offices and personnel. Economic development: Larger administrative areas can benefit from better allocation of resources and infrastructure development. Larger provinces may also attract more investment due to increased economic potential and market size. Improved service delivery: Public services could improve

On January 24, 2025, the prime minister of Vietnam issued Decision No. 232/QD-TTg, approving the proposal for establishment and development of a carbon market in Vietnam. The decision establishes a compliance mechanism for greenhouse gas (GHG) emitters and creates opportunities for investors interested in carbon trading in Vietnam. Market Development Roadmap Decision 232 establishes a phased approach to developing Vietnam’s carbon market, with the following ambitious milestones: Before June 2025 (preparation period): The legal framework for trading of emissions quotas and carbon credits and a carbon-credit offset exchange mechanism will be developed, along with the necessary infrastructure for organization and operation of the carbon-credit market. From June 2025 to the end of December 2028 (pilot period): A pilot domestic carbon exchange will be launched, with continued legal refinements. From 2029 (official launch period): The carbon market will be fully operational. Carbon Market Structure and Trading Mechanisms Vietnam’s carbon market will function as a centralized, government-regulated exchange, trading two main assets: GHG emissions quotas (allowances) allocated to regulated emitters, which can be traded or auctioned; and Carbon credits generated from domestic and international projects that are certified for trading. The carbon credits generated from international projects include those originating from international exchange or offset-crediting mechanisms such as the Clean Development Mechanism (CDM), the Joint Credit Mechanism (JCM), and Article 6 of the Paris Agreement. The National Registration System for GHG emissions quotas and carbon credits will be primarily developed and operated by the Ministry of Natural Resources and Environment. Transactions of GHG emissions quotas and carbon credits will occur on the domestic carbon exchange, managed by the Hanoi Stock Exchange, and will follow a centralized process where verified quotas and credits receive unique domestic codes for trading and participants must have depository accounts. The Vietnam Securities Depository and Clearing Corporation

Thailand’s Ministry of Energy (MOE) has announced the launch of the 25th bidding round for petroleum exploration and production. This round offers nine greenfield onshore blocks—seven in northeastern Thailand and two in central Thailand—encompassing over 33,000 km². The bids can be submitted from July 1 to July 16, 2025. The sizes and locations of these blocks are: Northeast Thailand Block L1/66: 3,223.51 km² (Khon Kaen, Nong Bua Lam Phu, Udon Thani) Block L2/66: 3,917.03 km² (Kalasin, Sakon Nakhon, Udon Thani) Block L3/66: 3,918.22 km² (Kalasin, Khon Kaen, Maha Sarakham, Udon Thani) Block L4/66: 3,656.65 km² (Amnat Charoen, Mukdahan, Nakhon Phanom, Yasothon) Block L5/66: 3,436.01 km² (Chaiyaphum, Khon Kaen, Nakhon Ratchasima) Block L7/66: 3,438.51 km² (Buri Ram, Maha Sarakham, Nakhon Ratchasima, Roi Et, Surin, Khon Kaen) Block L9/66: 3,885.44 km² (Nakhon Ratchasima) Central Thailand Block L6/66: 3,966.86 km² (Chaiyaphum, Lop Buri, Phetchabun) Block L8/66: 3,957.41 km² (Kanchanaburi, Nakhon Pathom, Ratchaburi, Suphan Buri) Bidding Process Interested companies must submit their bids to the Department of Mineral Fuels (DMF) between July 1 and July 16, 2025. Bids should include: Application form (ChorThor/Por1) Proof of eligibility: Corporate documentation, audited financial statements, and proof of resources Technical and commercial proposals: Exploration plans, geological surveys, financial and work commitments, and special benefits such as signing bonuses of at least USD 100,000. There is a nonrefundable THB 50,000 application fee per block, and applicants must provide a bid bond of THB 3 million per block via an unconditional bank guarantee from a commercial bank with branches in Thailand, valid for at least one year from the bidding submission date. The guarantee will be returned to unsuccessful bidders upon request and to successful bidders upon the signing of the concession agreement. Eligibility Bidders must meet the following main eligibility criteria: Bidders must be limited companies with the following qualifications: The company must have the objective of