On July 12, 2019, the Securities and Exchange Commission of Myanmar issued Notification 1/2019 which announced that foreign entities and individuals will be permitted to invest in the shares in Myanmar companies listed on the Yangon Stock Exchange (YSX). Ownership will undoubtedly be restricted at most to 35% of such shares, which corresponds with the designation of Myanmar companies with more than 35% foreign shareholding as “foreign” companies under the Myanmar Companies Law (2017).

On June 7, 2019, Laos’ official electronic gazette published the updated Law on Commercial Banks No. 56/NA, as amended, dated December 7, 2018. The law came into effect 15 days after its publication in the gazette. Banks already established in Laos have two years to implement the new rules, except the increased minimum registered capital requirements for which they have five years.Registered Capital

On May 29, 2019, three new acts were published in the Government Gazette to update existing laws and introduce new regulations relating to the protection and conservation of the environment. These laws will come into effect on November 25, 2019, and the implementation of all three will be overseen by special committees within the Ministry of Natural Resources and Environment.Wildlife Preservation and Protection Act B.E. 2562 (2019)

In 2019, Cambodia’s Ministry of Labor and Vocational Training (MLVT) has been active in amending the Labor Law and revising long-standing practices. These amendments and revisions have brought much-welcome clarity to employers on requirements of the MLVT and interpretations of the Labor Law, and have further provided meaningful benefits to employees.Foreign Workers and Employment Contracts

The 2019 round of applications for permanent residency in Thailand is open from July 1 until the last business day of December 2019. The opening date is a few months earlier than in previous years. 

Kien Trung Trinh, partner and head of Tilleke & Gibbins’ labor and employment practice in Vietnam, wrote the chapter on Vietnam for the latest edition of Practical Law’s Employment and Employee Benefits Global Guide. The 2019 edition of the popular handbook provides a comparative overview of labor law in 31 jurisdictions spanning the globe, from Australia to Mexico. Tilleke & Gibbins also contributed the Myanmar chapter of the guide.

Nandana Indananda and Manaswee Wongsuryrat, a partner and attorney-at-law respectively in Tilleke & Gibbins’ intellectual property group, have contributed a comprehensive guide to Thailand’s legal profession to the Taipei Bar Law Journal —the academic publication of the Taipei Bar Association.

On June 12, 2019, Order No. 6/2562 of Thailand’s National Council for Peace and Order (NCPO) entered into force.