On May 30, 2024, the Department of Trade (DOT) under Myanmar’s Ministry of Commerce (MOC) issued two measures tightening restrictions on the arrival and storage of imported goods before the necessary import licenses are obtained. Newsletter No. 3/2024 declares that legal enforcement against goods arriving at ports without the requisite import licenses will commence on July 1, 2024, pursuant to the Export-Import Law, and Newsletter No. 2/2024 reduces the types of goods that may be stored in bonded warehouses without an import license. Arrival of Goods at Ports Pending Import Licenses In July 2020, the MOC had issued a notification outlining the regulations for the importation of goods requiring import licenses prior to their arrival at the ports. This notification stated that actions may be taken under the Export-Import Law against importers who deliver goods to ports before obtaining the necessary import licenses from the MOC. Subsequently, the MOC issued a similar warning to importers in 2022 and a more recent announcement dated April 5, 2024. Now with the issuance of Newsletter No. 3/2024, the DOT is preparing to strengthen its enforcement against goods arriving at ports without the necessary import license already having been obtained. Storage of Goods in Customs Warehouses In December 2023, the MOC issued Newsletter No. 16/2023, which permitted 14 categories of goods to be stored in bonded areas without an import license. However, the DOT’s Newsletter No. 2/2024 eliminated most of the items on that product list, leaving only four categories of goods: Medicines, Various electric vehicles and related accessories, Industrial raw materials and chemical raw materials for industry, and Food raw materials. This allowance is only applicable for bonded areas that comply with customs procedures for bonded warehouses. Newsletter No. 2/2024 takes effect on June 7, 2024. Starting on this date, the MOC will no longer approve applications for the storage of goods listed

Myanmar’s Patent Law 2019—the country’s first legislation specifically addressing patent protection—took effect on May 31, 2024. The announcement that the law had taken effect came when the State Administration Council (SAC) issued Notification No. 106/2024 on June 1, 2024. This announcement is a key development moving toward full implementation of statutory patent protection in Myanmar. The next step will be the announcement of the Patent Rules, which will establish the requirements, official forms, and procedures related to the application and registration of patents and utility models. Another necessary announcement will be the official forms and fees for proceeding with patent-related matters at the Intellectual Property Department (IPD). Upon these forthcoming announcements, parties will be able to apply for patent registration in Myanmar. The Patent Law, which was enacted in 2019, allows for the registration of inventions that: Have not been disclosed to the public anywhere by any means before the filing date or priority date (if claimed); Involve an inventive step; and Are capable of use in any industry. Priority rights can be claimed within a year of the filing of an application with any member country of the World Trade Organization. In seeking protection for inventions internationally, priority rights cannot yet be claimed under the Paris Convention or the Patent Cooperation Treaty, as Myanmar’s ratification of these agreements is still pending. Nevertheless, the Patent Law includes provisions related to these two agreements; these provisions will take effect if the ratification process is completed. Rights owners interested in seeking protection of their inventions in Myanmar should begin evaluating their portfolios so that they can apply to register their inventions once the remaining necessary announcements have been issued. Recordation of inventions—including renewals of patents that had been recognized under Myanmar’s previously established practice—will no longer be accepted. Rights holders can claim statutory protection and exclusive rights for their inventions

Thailand’s Department of Mineral Fuels (DMF) is in the process of preparing a notification that will open the application period for onshore petroleum exploration and production rights in the country’s 25th bidding round. The 25th round of bidding will cover nine petroleum blocks, including the northeastern areas (blocks L1/66, L2/66, L3/66, L4/66, L5/66, L7/66, and L9/66) and central areas (blocks L6/66 and L8/66). The DMF estimates that application submissions will commence around the middle of 2024, and the successful bidder will be announced at the end of the same year. Based on previous rounds of bidding, applicants must meet the following key criteria: The applicant is a company with the purpose of carrying out petroleum exploration and production; The applicant commands the necessary assets, machinery, equipment, tools, and specialists to explore for, produce, sell, and dispose of petroleum; The applicant has not abandoned its operations under a concession or been subject to revocation of a concession in Thailand; and None of its personnel, shareholders, directors, or authorized directors is listed as a person who has abandoned its operations under a concession, or has been subject to revocation of a concession in Thailand. If the applicant does not itself possess all the qualifications under (2) above, it must have another government-approved company that possesses all the qualifications under (2) and has a capital or management relationship with the applicant, and the applicant must supply guarantees that the company will make available to the applicant all necessary assets, machinery, equipment, tools, and specialists for the applicant to explore for, produce, sell, and dispose of petroleum. Companies with a vested interest in petroleum exploration and production in Thailand must remain vigilant for updates. The DMF is expected to provide an update and more details on the bidding very soon. For more details on the 25th bidding round, or on any aspect

As Vietnam continues its rapid economic development, the demand for sustainable and reliable energy sources has never been more critical. Solar power has emerged as a key component of Vietnam’s strategy to diversify its energy portfolio and reduce its carbon footprint. Recent developments of the regulatory framework governing solar power projects in Vietnam, as discussed below, highlight the country’s commitment to renewable energy and its efforts to create a conducive environment for solar power investments. Objectives for the Development of Solar Power Projects On May 15, 2023, the Prime Minister issued Decision No. 500/QD-TTg, approving the National Power Development Plan for 2021-2030 with a vision to 2050 (“PDP VIII”). Following this, on April 1, 2024, the Prime Minister promulgated the Implementation Plan for PDP VIII (“Implementation Plan”). These documents underscore Vietnam’s commitment to promoting renewable energy, particularly solar. They emphasize self-production and self-consumption of solar power, the development of rooftop solar systems, and the promulgation of the direct power purchase mechanism. The integration of solar power with battery storage is also encouraged, contingent upon economic viability. PDP VIII sets ambitious capacity targets for solar power. By 2030, the capacity is projected to reach approximately 12,836 MW, accounting for 8.5% of the total power capacity. This includes 10,236 MW from concentrated solar power and 2,600 MW from self-production and self-consumption solar power. By 2050, the capacity is expected to rise to between 168,594 MW and 189,294 MW, representing 33.0-34.4% of the total power capacity. Additionally, PDP VIII and the Implementation Plan list 27 solar power projects, totaling 4,136.25 MW, slated for implementation after 2030. However, these projects may be advanced under self-production and self-consumption arrangements. Draft Decree on Direct Power Purchase Agreements On April 15, 2024, the Ministry of Industry and Trade (“MOIT”) released a draft decree on direct power purchase agreements (“DPPA”) for public

On May 24, 2024, the Central Bank of Myanmar (“CBM”) issued a public notice warning individuals against participating in the sale, purchase, exchange, or transfer of unregulated digital currencies, as well as unauthorized money transfers. The CBM has indicated its readiness to enforce regulations by closing bank accounts and pursuing legal action, which may result in imprisonment, fines, or both, in accordance with the Central Bank of Myanmar Law, the Anti-Money Laundering Law and the Financial Institutions Law. The CBM is the sole legal entity authorized to issue currency in Myanmar, as stipulated in the Central Bank of Myanmar Law. The CBM does not recognize digital currencies as official currency, nor has it granted permission to financial institutions within Myanmar to trade them. The existing legal framework, comprising the Foreign Exchange Management Law and the Financial Institutions Law, further cements the illegality of cryptocurrency transactions within the nation’s borders. Four years ago, in May 2020, the CBM issued Notification No. 9/2020, prohibiting all persons residing in Myanmar from engaging in the sale, purchase, or exchange of unregulated digital currencies. The list of prohibited currencies includes widely recognized cryptocurrencies such as Bitcoin (BTC), Litecoin (LTD), Ethereum (ETH), and Perfect Money (PM), with a particular emphasis on transactions conducted through personal Facebook accounts and web pages. Before the issuance of the 2020 notification, the CBM had announced that anyone engaging in digital currency transactions did so at their own risk, but no enforcement measures were being taken at the time. However, after the 2020 notification was issued, the CBM has pursued legal action against persons involved in illegal currency conversion and unauthorized hundi money transfers using Tether (USDT). These enforcement measures have included shutting down bank accounts and initiating legal proceedings under the Anti-Money Laundering Law and the Financial Institutions Law. In light of these

Nearly a year after Vietnam’s issuance of its National Power Development Plan for 2021-2030, with a vision to 2050 (“PDP VIII”), the Prime Minister issued Decision No. 262/QD-TTg dated April 1, 2024, approving the Implementation Plan for PDP VIII (“Implementation Plan”). Among other contents, the Implementation Plan sets forth the list of prioritized power source projects through 2030, and the capacity of renewable energy sources through 2030, as detailed below. Prioritized Power Source Projects through 2030 The Implementation Plan lists out six types of power source projects prioritized for development through 2023 according to the capacity approved under PDP VIII. They include: Domestic gas-fired power (14,930 MW) LNG-fired power (22,400 MW) Coal-fired power (30,127 MW) Cogeneration power using residual heat, blast furnace gas, and by-products of technological lines in industrial facilities (2,700 MW) Hydropower (29,346 MW) Pumped storage hydropower (2,400 MW) With respect to each type, the Implementation Plan provides details of projects by location and their operational progress. Such information is set out in Schedule III of the Implementation Plan. For power source projects not included in this list, the provincial People’s Committees will consult with the Ministry of Industry and Trade (“MOIT”) and relevant agencies on compliance with the planning prior to appraisal and issuance of in-principle investment approval. Renewable Energy Projects through 2030 The Implementation Plan allocates the capacity of the following renewable energy sources by locality/region: Offshore wind power (6,000 MW) Onshore wind power (21,880 MW) Hydroelectric power (29,346 MW) Biomass electricity (1,088 MW) Electricity produced from waste (1,182 MW) Rooftop solar power for self-production and self-consumption (2,600 MW) Battery storage (300 MW) With respect to each renewable energy source, the Implementation Plan provides a list of certain renewable energy projects through 2030, including the expected life cycle of the projects, and the allocated capacity for various localities/regions. For the remaining capacity, the provincial People’s Committees were tasked to propose a list of additional projects,

A bank guarantee or bond is a powerful tool that provides contractual parties with security and assurance. Bank guarantees are commitments made by a bank (as a guarantor) on behalf of a customer (as an obligor) to a beneficiary to ensure that certain contractual obligations will be fulfilled. If the customer fails to comply with these obligations, the bank can compensate the beneficiary up to the amount specified in the bank guarantee. Bank guarantees are widely used in Thailand as a form of security and are common in construction agreements and government procurement contracts, among others. If the beneficiary (e.g., a project owner) concludes that the counterparty in the agreement (e.g., a contractor) has breached the underlying contract in some way, the beneficiary will demand payment from the bank pursuant to the guarantee. Collecting on a Guarantee and Preventing Payment In the context of construction and procurement agreements, there are two types of bank guarantees—conditional and unconditional. A conditional bank guarantee means that the project owner must satisfy certain agreed-upon conditions (e.g., provision of proof of the breach, proof of damages, or even consent from the contractor) to demand payment. An unconditional bank guarantee means that the bank must compensate the project owner for the demanded amount (up to the limit specified in the bank guarantee) without any conditions. When a project owner concludes that a contractor has breached the underlying contract (often for nonperformance or failure to comply with a representation or warranty), the project owner will demand payment from the bank holding the guarantee. Upon receiving such a demand, Thai banks will usually inform the contractor and ask if it has any objections. Even if the bank guarantee is unconditional, in practice, a bank may be reluctant to make payment if the contractor, as the bank’s customer, strongly objects. This means that

On March 1, 2024, the Lao official gazette published the newly amended Law on Intellectual Property No. 50/NA, dated November 20, 2023 (the “2023 Law on IP”). The timing of this update is consistent with Laos’ history of providing regular revisions to the country’s IP legislation since the enactment of the first Law on Intellectual Property by the National Assembly in 2007 (the “2007 Law on IP”). These revisions include amendments in 2011, 2017, and now 2023. Prior to 2007, intellectual property (IP) protection was granted through decrees issued by the prime minister’s office for selected types of IP: trademarks, patents, petty patents, and industrial designs. The 2007 Law on IP marked a significant shift by introducing comprehensive legislation to protect industrial property rights, new plant varieties, copyright, and related rights. It laid the foundations for IP legislation in Laos, with the primary objectives of promoting and protecting intellectual creativity and attracting foreign investment. Since 2007, the enactment of new IP laws has not always entailed significant amendments to the existing IP framework; however, it frequently serves as an opportunity to introduce long-considered mechanisms. For example, the amended Law on Intellectual Property No. 38/NA, dated November 15, 2017 (“2017 Law on IP”) introduced, among other provisions, the possibility of opposition by a third party after the formal examination of a trademark application by the examiner. The 2023 Law on IP brought additional changes and updates to the IP regulatory landscape in Laos. Some of the most notable of these are highlighted below. Trademarks While Laos already introduced a new mechanism for online trademark registration in November 2023—about a month before enacting the 2023 Law on IP—the new law did introduce some noteworthy changes. Well-Known Marks The 2023 Law on IP appears to ease the burden of proof for establishing that a mark is well known. The 2017