After several years of policy discussion and continued efforts led by the Ministry of Commerce (MOC) to relax the list of reserved businesses under the Foreign Business Act B.E. 2542 (1999) (FBA), the reform process has now reached a significant milestone. On May 12, 2026, the Thai cabinet approved in principle two draft subordinate legislative instruments aimed at delisting certain reserved business activities under the FBA and reducing licensing requirements for foreign business operators. These developments signal a renewed and concrete effort by the government to modernize Thailand’s business regulatory framework in order to attract foreign investment and boost Thailand’s competitiveness in the global market. Nine Businesses Set for FBA Delisting Below is a list of the nine businesses that are being targeted for delisting from the FBA’s restrictions. A draft ministerial regulation would delist the first eight reserved businesses, while a royal decree has been drafted to delist the ninth business: Telecommunications services (Type 1 license only, covering operators without their own telecommunications infrastructure), under the supervision of the Office of the National Broadcasting and Telecommunications Commission. Treasury center services subject to the Foreign Exchange Control Act B.E. 2485 and under the supervision of the Bank of Thailand. Securities-collateralized lending, pursuant to the laws governing securities and exchange and derivatives regulated by the Securities and Exchange Commission. Agency, dealer, advisory, or fund management services relating to derivatives where the underlying assets fall outside the scope of the Derivatives Act B.E. 2546 (2003) Intra-group shared services, including administrative, human resources, and IT functions Intra-group domestic debt guarantee services Leasing of partial space for installation of financial service machines and automatic vending machines for employee use Petroleum drilling services Trading of agricultural product derivatives through a futures exchange, with physical delivery or receipt of agricultural products at a futures exchange–designated

Vietnam’s education sector is entering a new regulatory era. On December 10, 2025, the National Assembly adopted a series of new and amended laws in the field of education, including the 2025 Law on Vocational Education, the 2025 Law on Higher Education, and the amended Law on Education No. 123/2025/QH15 (Amended Law on Education). These laws together took effect on January 1, 2026, marking a significant reform of Vietnam’s legal framework governing the education sector. The legislative package introduces a new lawmaking approach under which foundational and principle-based provisions are codified in the Amended Law on Education, while the Law on Higher Education and the Law on Vocational Education serve as specialized statutes providing supplementary, sector-specific regulatory detail tailored to their respective subsectors. The Amended Law on Education fundamentally restructures how educational institutions are established, governed, and licensed, with direct implications for private investors, foreign-invested entities, and education service providers operating in Vietnam. Below are several highlights of the key changes under the amended law, especially in the private sector, that stakeholders should understand: Change in the National Education System In addition to primary education, lower secondary (junior high school) education is now compulsory in Vietnam. Accordingly, diplomas are no longer awarded upon completion of lower secondary school but only for upper education levels. The national education system is also expanded through the introduction of vocational high school as a new level of vocational education. Such reform creates additional learning pathways that not only enable learners to pursue both further education and participate in the labor market, but also better align education and training with socioeconomic development needs. New Hurdle for Joint Investors: Mandatory Corporate Entity Requirement Where two or more investors jointly establish an education institution, the investors are no longer permitted to directly establish such an institution.

Thailand’s Anti-Corruption Cooperation Committee has issued a major update to the anticorruption standards required for private entities engaging in high-value state projects. The update, titled “Announcement re: Procurement Limits and Minimum Anticorruption Standards (No. 2),” replaces and amends key provisions of the original announcement dated September 25, 2024. Published in the Government Gazette on April 10, 2026, the new rules take effect on May 10, 2026, and apply to projects valued at more than THB 300 million (approximately USD 9.3 million). The key amendments to the anticorruption standards are detailed below. Expanded Definition of Conflict of Interest The 2026 regulation significantly broadens the scope of what constitutes a conflict of interest compared to the 2024 version, which focused primarily on basic kinship and business ties. Under the new rules, a conflict of interest includes using one’s position or authority to seek benefits for oneself, a group, close associates, or business, including through business relationships, kinship ties, or relationships with spouses or individuals living together as partners without marriage registration. The 2026 announcement also introduces specific examples that were largely absent from the 2024 text, such as holding shares in similar businesses that submit proposals for the same project, or submitting proposals for projects in which a relative, spouse, or unregistered partner is an “involved party” in that procurement. Continuous Compliance: The “Final Payment” Rule Under the 2024 rules, the coverage period for anticorruption policies was less strictly defined. The new regulation mandates a continuous timeline: policies or certifications must remain effective from the date of bid submission until the contractor receives the final payment installment under the contract. If a certification or policy is set to expire before the final payment, the contractor must submit a new self-audit form and supporting evidence to the state agency before the original

A new decree in Vietnam brings significant implementation clarity to the country’s existing extended producer responsibility (EPR) legal framework. An EPR mechanism was first codified in Vietnam in the 2020 Law on Environmental Protection amid ongoing challenges surrounding the collection and treatment of product and packaging waste. The mechanism was progressively detailed through Decree No. 08/2022/ND‑CP and its successive amendments, but the regulatory framework remained insufficiently developed, notably in terms of support mechanisms for waste collection, recycling, and treatment. The newly launched regulations in Decree No. 110/2026/ND-CP (Decree 110), issued on April 1, 2026, and taking effect on May 25, 2026, stipulate fully and clearly the responsibility of manufacturers and importers to recycle products and packaging and to treat waste. Some key provisions of Decree 110 for manufacturers, importers, and related stakeholders are presented below. Subjects of EPR The Law on Environmental Protection assigns responsibility to manufacturers and importers for product and packaging recycling (under Article 54) or waste collection and treatment (under Article 55), depending on the type of products and packaging they produce or import. Decree 110 elaborates on these EPR provisions by specifying the responsible entities and listing out the types of products and packaging subject to recycling and waste treatment responsibilities. Decree 110 clarifies the responsible entities in special cases, such as when products under the same brand are made by multiple manufacturers, when there is a contract manufacturing or entrusted import relationship, and when the manufacturer or importer is part of a corporate group. Notably, exemptions may be applied in some scenarios, such as for manufacturers and importers of products and packaging exclusively for export, temporary import and re-export, or research and testing purposes, as well as for entities with annual revenue from related products not exceeding VND 30 billion. Recycling Responsibilities Decree 110