On July 1, 2025, new minimum daily wage rates for Bangkok and certain business types nationwide were published in the Government Gazette, taking effect on the same day. The daily minimum wage rate for Bangkok has been increased to THB 400 per day, while the minimum wage rates for other provinces remain unchanged from the rates that took effect on January 1, 2025. However, daily minimum wage rates have also been increased to THB 400 nationwide for type 2, type 3, and type 4 hotels under the Hotel Act and for entertainment establishments under the Entertainment Place Act. This THB 400 rate applies to all businesses that meet the criteria, even if the province’s general rate is lower. The new minimum wage rates supersede any lower wages agreed upon in existing employment contracts or conditions of employment that were in force before this announcement came into effect. As a result, these employees must be paid their wages at the newly prescribed rate for work performed from July 1, 2025, onward.

On June 17, 2025, Cambodia’s Ministry of Economy and Finance issued Instruction No. 18574 on Tax Obligations for Share Premiums to clarify that enterprises are not required to pay any income tax on share premiums that meet the conditions set out in the instruction. As outlined in the relevant provisions of the Law on Taxation (Royal Kram No. NS/RKM/0523/004) and Prakas No. 578 MEF.PrK.GDT on Tax on Income, taxable income is the difference between an asset’s value at the beginning and end of a period. This calculation deducts capital contributions, which are not taxable. A share premium is the amount of money that a company receives in excess of the par value of a share when the company issues new shares to a shareholder through a share subscription. In other words, share premiums are capital contributions made by shareholders into the equity of the company and, as a result, are not taxable. However, the government may nevertheless view share premiums as taxable if the company fails to meet certain legal conditions. Cambodian law requires share subscriptions to be properly recorded in the company’s accounting books and supported by documentary evidence. The recent instruction states that if an enterprise does not have proper documentation, any increase in equity, such as a capital increase through share premiums, will be treated as taxable income in accordance with the law. The instruction provides the following example: Enterprise A issues 200,000 new shares to an investor. The shares were registered with a par value of KHR 4,000 per share and were sold for a sale price of KHR 10,000 per share. The share premium of KHR 1.2 billion, which is calculated by subtracting the total par value (KHR 800 million) from the total value of the new capital (KHR 2 billion), is a capital contribution; therefore, it is not

On June 27, 2025, Vietnam’s National Assembly adopted a Resolution on International Financial Centers in Vietnam (“IFC Resolution”), which is set to take effect September 1, 2025, putting forward major policy breakthroughs on multiple fronts. The IFC Resolution has the goal of turning Ho Chi Minh City and Da Nang into leading international financial centers with autonomy and tools to compete, thereby raising Vietnam’s position in the global financial network, in association with economic growth drivers. Below are some of the key points of the IFC Resolution, which has notable changes from previous drafts (see our articles on Vietnam’s Draft Resolution on Financial Centers: Implications for Fintech and Banking and Vietnam’s Emerging Regulatory Landscape for Blockchain and Cryptocurrency), including: The removal of the Central Supervisory Agency. The addition of a definition of international financial centers, which are specific geographic areas in Ho Chi Minh City and Da Nang with members entitled to special policies. The addition of a list of entities eligible for membership, and entitlement to the special policies. Major Policy Breakthroughs The IFC Resolution introduces specific policies in the following areas: Liberalization of foreign exchange control for members, including policies such as open foreign exchange use between members and exemption from foreign exchange control procedures for 100% foreign-owned members. Specialized licensing for members to establish and operate single-member limited liability banks and foreign bank branches with the ability to apply accounting standards, debt classification, risk provisions, and prudential ratios according to the owner’s policies. Creation of a capital market for innovative startups, including a crowdfunding mechanism or private placement mechanism through a licensed platform, and development of a green finance market with green certification. Creation of a regulatory sandbox for fintech technologies, products, services, and business models not yet prescribed by law, offering exemption from compliance with standards and technical regulations as well as exemption from liability

As of July 1, 2025, all companies in Vietnam have new addresses. The country’s administrative map has been redrawn and relabeled as part of an ambitious government restructuring, and every address in the country has been modified to at least a small degree due to provinces merging, the district level of local government being eliminated, and the surviving administrative divisions being reconfigured and renamed. Companies operating in Vietnam should note the guidance below regarding their obligations. Business Registration Guidance issued by Vietnam’s Ministry of Finance under Official Letter No. 4370/BTC-DNTN dated April 5, 2025, regarding business registration in the event of changes to administrative boundaries, provides the following principles: Enterprises may continue to use their existing Enterprise Registration Certificates even when administrative boundaries have changed. There is no requirement to register a change of address solely due to these changes. Enterprises may choose to update their registered addresses either when submitting applications for other business registration changes or at their own discretion. Tax-Related Matters The Tax Department of the Ministry of Finance and Regional Tax Sub-Departments have further issued the following guidance on tax-related matters: The tax authorities will issue notifications regarding the update of taxpayers’ addresses according to the new administrative boundaries. These notifications will also include information on the directly managing tax authority. The notifications will be communicated via the taxpayer’s electronic tax transaction account, or the taxpayer’s email address through the legal representative’s eTax Mobile application. These notifications will serve as a basis for taxpayers to explain to relevant authorities or clarify to customers in cases where the address shown on the invoice is the address updated by the tax authority according to the new administrative boundaries, but the information on the Enterprise Registration Certificate still shows the address according to the old administrative boundaries. Summary Given the above, it is not mandatory for companies to update their

Now halfway through 2025, Thailand continues to advance in the realm of data privacy, with the ambitious goal of achieving zero data breaches. The Personal Data Protection Committee (PDPC), an independent government body established by the Personal Data Protection Act (PDPA), is taking a more proactive approach, having published several rulings and orders to enhance data protection measures and clarify compliance expectations for businesses. Here is a look back at Thailand’s data privacy developments in the first half of the year. Strengthening Law Enforcement and New Guidance for Compliance Enforcement of existing data protection laws and regulations has taken a step forward this year. Some of the specific initiatives include: Increased enforcement by the PDPC. A key trend to watch from the first half of 2025 is the PDPC’s active enforcement of the PDPA as it intensifies oversight through compliance orders and public warnings against noncompliant organizations while ramping up efforts to prevent and halt the illegal trading of personal data by actively monitoring emerging societal issues. Call center scams and cyber fraud control. Thailand published an amendment to the Emergency Decree on Measures for the Prevention and Suppression of Technological Crimes to strengthen measures against technological crimes, particularly targeting call center scams and cyber fraud. Orders from the Expert Committee. Several orders issued by the Expert Committee under the PDPA were announced in the first half of this year. These include directives for data controllers to take corrective actions to comply with the PDPA, as well as initiatives to raise awareness of data privacy within organizations, reflecting the regulator’s focus on promoting organizational awareness and compliance. A guideline report summarizing the Expert Committee’s decisions and orders was also published to serve as a reference for compliance. Public issue monitoring. The PDPC has been taking a more proactive approach by staying current with high-profile data privacy

Vietnam is making notable strides in decentralization, aiming to grant greater autonomy to local government entities to streamline administrative procedures. As part of this effort, the government issued Decree No. 133/2025/ND-CP on decentralization of state management of the Ministry of Science and Technology dated June 12, 2025 (Decree 133). Effective from July 1, 2025, Decree 133 decentralizes and delegates numerous state management functions—including in intellectual property (IP) and technology transfer—to provincial-level People’s Committees (PCs). This reform signals a profound shift in how IP rights are administered and enforced across Vietnam. While this offers new opportunities for IP owners, agents, and innovators, it also introduces additional operational complexities. Impact on IP and Technology Transfer Decree 133 significantly reallocates responsibilities in IP and technology transfer, primarily to provincial-level PCs. Provincial PCs and other provincial authorities are now empowered to handle a wide range of tasks, including but not limited to the following: Issuance of duplicates and reissuance of certificates of registration. Registration of license agreements for the transfer of usage rights for industrial property objects (e.g., trademarks, patents) and recording amendments, extensions, or early terminations of such agreements. Enforcing decisions on compulsory licensing of patent use rights. Evaluation and approval of technology transfer contracts—a key step in facilitating localized technological advancements. Permitting the establishment of foreign-invested scientific organizations and their branches, to encourage foreign direct investment in local R&D and technology development. Approval of provincial-level R&D tasks, aligning with local socio-economic development priorities. Legal Implications The decentralization and delegation brought forth by Decree 133 carry several significant legal implications: Echoing Decree 133, the Intellectual Property Office of Vietnam issued Notification No. 2351/TB-SHTT on June 26, 2025, announcing the cessation of 19 administrative procedures at the national level. Specifically, from July 1, 2025, the IP Office will no longer accept requests related to procedures that have been delegated to provincial-level PCs under Decree

On March 4, 2025, Cambodia’s Ministry of Labor and Vocational Training (MLVT) issued Prakas No. 073/25 on Procedures for Resolving Individual Labor Disputes, replacing Prakas No. 318 on the same topic from 2001 and introducing significant changes to how individual labor disputes are filed, processed, and escalated. In addition, Prakas No. 073 outlines the roles and responsibilities of labor inspectors, the process for filing and handling complaints, and the steps for conciliation and further legal recourse, as described below. Filing a Complaint Any party to an individual labor dispute can file a complaint with the Labor Dispute Department of the MLVT or the Department of Labor at the capital or provincial level. Upon receiving a complaint, a labor inspector will review the case and may initiate either conciliation or a labor inspection. Invitation letters will be issued to the disputing parties to provide relevant information and documents. Conciliation Process Prakas No. 073 places strong emphasis on the conciliation process, introducing strict procedural rules and deadlines with clear consequences for noncompliance: If the claimant fails to provide required information within the specified deadline (or within three working days thereafter without reasonable excuse), the complaint is deemed void. If the respondent fails to attend the conciliation meeting within the deadline (or within three working days thereafter without reasonable excuse), the conciliation is considered unsuccessful, and the respondent is deemed guilty as claimed. Once all necessary information is gathered, a labor inspector will invite both parties to a joint conciliation meeting, which must be held within three weeks of the complaint being received. If the claimant fails to attend the meeting or sign the minutes without a reasonable excuse, the complaint is void. If the respondent fails to attend the meeting without a reasonable excuse, the conciliation is unsuccessful, and the respondent is deemed guilty as claimed. If conciliation fails, the parties may