Advances in biotechnology have enabled the development of a range of new agricultural tools. From DNA sequencing to plant tissue culture and gene editing, these advances are facilitating the development of better crops. Genetically modified organisms (GMOs) are one well-known example of agricultural biotechnology. GMOs are organisms whose genetic material has been artificially altered by inserting a piece of foreign DNA. This DNA may be synthetic in origin or sourced from other organisms. Genome editing (also called gene editing or GEd) involves making precise changes to an organism’s genome without the integration of foreign DNA elements. Several approaches to genome editing have been developed. A well-known one is called CRISPR-Cas9, in which scientists make precise “cuts” in the DNA to create a new genetic variation. Unlike with GMOs, this introduces only minor modifications that are indistinguishable from natural mutations, typically by transplanting genes that code desirable traits from one species into another. GEd technology has been recognized and supported by the Food and Agriculture Organization of the United Nations (FAO). Thirteen FAO-member countries who are also members of the Organization for Economic Cooperation and Development (OECD) announced their support of the use of GEd technology for commercial uses and consumption at a recent WTO meeting. In addition, over 40 countries around the world, such as Argentina, Australia, Brazil, Canada, Chile, China, England, Japan, Kenya, the Philippines, Russia, the UK, and the US, have published policies emphasizing that foods free of transgenes (i.e., foods that do not contain genes transferred from external sources) are not GMOs, concluding that GEd plants are as safe as normal plants. In February 2024, the European Parliament approved new genomic techniques (NGTs), or GEd. As a result, plants that are produced using GEd technology are not classified by the EU as GMOs, and the EU authorities consider them to

On March 7, 2024, Laos moved to regulate the management of foreign-currency income from the exportation of goods and services. Effective March 29, 2024, Decision No. 333 (formally the Decision on Management of Income in Foreign Currency from Exportation of Goods and Services No. 333/BOL) from the Bank of Lao PDR (BOL) aims to incentivize the inflow of such foreign currency into Laos and its sale to licensed commercial banks. Decision No. 333 sets minimum required proportions for importing income in foreign currency derived from the exportation of goods and services, as well as the timeframe for doing so. It also stipulates the requirements for selling such foreign currency to commercial banks in Laos and the minimum proportions that must be sold. Importing Foreign-Currency Income Exporters must receive payments from abroad via bank transfer into a dedicated bank account designated for import-export business activities within the timeline specified in the sale-purchase agreement, but not exceeding 180 days from the date of export. Each sector must import income in foreign currency into the Lao PDR according to the minimum proportion of currency to be imported, and it must be done within the required timeframes, as specified in the table below. The ratios and timeframes are subject to change depending on the circumstances. If exporters cannot comply with the required ratio and timeline, exporters must provide relevant explanatory documents for the BOL’s consideration. Selling Foreign-Currency Income Exporters of goods and services must sell at least the minimum required proportion of their foreign-currency income (see table below) to a commercial bank in Laos. This foreign currency exchange must occur within three working days of receiving the foreign currency into the dedicated bank account in Laos. The selling rate will be determined by the prevailing rate of the commercial bank on the day of the transaction. In conducting these transactions,

On January 18, 2024, Vietnam’s National Assembly passed a new Land Law (“Land Law 2024”) that is scheduled to take effect on January 1, 2025, replacing the current Land Law 2013. To mitigate challenges faced by the real estate market, in late May 2024, the government proposed amendments to the Land Law that would move the effective date up five months, to August 1, 2024, pending approval by the National Assembly. One of the key sectors to be impacted by the Land Law 2024 is the energy sector, which requires large land areas for power plants and infrastructure, especially given Vietnam’s 2050 net zero emissions commitment. Below are highlights of how the new Land Law 2024 will affect Vietnam’s energy sector. Annual payment of land rental Under the Land Law 2013, investors implementing energy projects (e.g., solar power projects) are entitled to choose to lease land with either (i) an annual rental payment or (ii) a single upfront payment for the entire term of use. Under the Land Law 2024, these investors are only allowed to use land in the form of an annual rental payment. As the annual land rental is calculated in five-year cycles, based on the land price table decided by the state, this new restriction means that investors in energy projects will face an additional risk of a sudden increase in land rental, disrupting their financial planning. Investors using land sites leased with annual rental payments are also not allowed to mortgage their land-use rights, but can only mortgage assets attached to the land, at credit institutions licensed to operate in Vietnam. Accordingly, this may affect the ability of energy projects to obtain financing during the development stage, because they no longer have assets that can be mortgaged. Obtaining land Under the Land Law 2024, investors can obtain land through a lease

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