On September 6, 2024, Laos’ Ministry of Agriculture and Forestry (MOAF) issued Decision No. 4565/MAF on Forest Carbon Management. This decision, which took effect on October 29, 2024, enables Laos to participate in both domestic and international carbon markets. It outlines comprehensive guidelines for forest carbon activities, including investment procedures, carbon credit trading, and benefit allocation. The Department of Forestry (DOF), under the MOAF, oversees these activities and grants relevant permissions. Definitions The decision defines key terms related to forest carbon management: Forest carbon: Carbon dioxide (CO₂) absorbed by forests, calculated in tonnes per hectare. Forest carbon credit: Quantity of CO₂ reduction, absorption, and storage, measured in tonnes of carbon dioxide equivalent (tCO2e), achieved through various projects or activities. These credits are verified for the reduction, absorption, and storage of CO₂ to mitigate greenhouse gas emissions. They can be exchanged and traded in accordance with established standards for greenhouse gas emissions. Forest carbon trading: An agreement between a buyer (domestic or foreign legal entity or government) and a seller (the owner of a forest carbon project) to trade tCO2e . This trading allows the buyer to offset greenhouse gas emissions that exceed the emission allowances set out in the Paris Agreement on climate change. The forest carbon sold becomes the property of the buyer. Forest Carbon Business Operations According to the decision forest carbon business operations include: Cooperation between the government and development partners: This involves bilateral and multilateral cooperation based on international agreements and treaties. The use of carbon credits from this cooperation is not market-based but agreement-based, contributing to Laos’ national climate change goals. Forest carbon investment: This includes direct government investments and joint investments with the private sector, international organizations, or communities. These investments aim to create forest carbon credits without granting exclusive rights to forest

Attorneys from Tilleke & Gibbins have updated the latest edition of Doing Business in Thailand, a Q&A-style guide from Thomson Reuters Practical Law that offers an overview of key legal considerations for companies operating in jurisdictions worldwide. The contribution outlines the country’s legal and regulatory framework for foreign investment and business operations and reflects the latest legislative developments. The chapter addresses the following core topics: Legal system: Structure of the courts and the codified nature of Thai law. Foreign investment: Business restrictions under the Foreign Business Act, sector-specific regulations, exchange control rules, and investment incentives. Business vehicles: Overview of partnerships, private and public limited companies, and other legal entities. Employment: Labor protections, employment contracts, foreign worker requirements, and termination procedures. Tax: Corporate and personal income tax, indirect taxes, and tax obligations for residents and non-residents. Intellectual property: Registration and enforcement of patents, trademarks, designs, and copyrights. Data protection: Key provisions of the Personal Data Protection Act and related compliance obligations. Competition law: Regulatory framework under the Trade Competition Act. Anti-bribery and corruption: Relevant legislation and enforcement mechanisms. E-commerce and digital business: Legal regime for online transactions and digital platforms. Marketing and advertising: Consumer protection laws and regulations affecting advertising and marketing practices. Product regulation and liability: Safety standards, liability regimes, and roles of enforcement authorities. Practical Law, a legal reference resource from Thomson Reuters, publishes a range of guides for hundreds of jurisdictions and practice areas. The insurance and reinsurance guide is a valuable resource for legal practitioners, covering numerous jurisdictions worldwide. To view the latest version of the guide, please visit the Practical Law website and enroll in the free Practical Law trial to gain full access.

On November 22, 2024, the Ministry of Health (MOH) in Laos issued Decision No. 3730/MOH, which regulates the management, processing, production, and use of biopharmaceutical products, genes, and stem cells. This decision came into force on January 18, 2025, 45 days after its publication in the Lao Official Gazette on December 4, 2024. This decision signifies Laos’ recognition and acceptance of biopharmaceutical products, genes, and stem cells for use in medical treatments and the beauty industry, and it aligns with the ongoing development of biomedical sciences in the country. Definitions The MOH’s decision defines biopharmaceuticals, gene therapy, and stem cells as follows: “Biopharmaceutical products” refers to a type of biological or drug product that is produced or synthesized from natural substances, objects, or chemicals. This group of products includes blood, blood components, allergens, cells or cellular components, gene therapies, tissues, protein-based medicines, drugs derived from living cells, and biologics, which can be produced from sugars, proteins, amino acids, or substances with complex characteristics derived from organic sources such as human, animal, and plant parts; yeast; and microorganisms. These products exclude vaccines and biosimilar products, which will be specified under separate regulations. “Gene therapy” refers to a treatment approach that applies the principle of arranging amino acids (which could involve DNA or RNA sent to the patient’s cells in the form of a drug with the purpose of treating a certain disease). “Stem cells” are defined in the decision as cells or immature cells that can be sourced from various organs in the They are characterized by being undifferentiated, having the potential for differentiation, and being self-renewing. Stem Cell Production The decision outlines comprehensive provisions for managing and using raw materials in stem cell production. Key points include: Production location standards: Ensuring facilities meet specific standards of the MOH. Personnel

Prisna Sungwanna, head of Tilleke & Gibbins’ office in Vientiane, and Sayphin Singsouvong, associate, provided an updated Laos chapter for Foreign Investment Review 2025, a global guide to the legal and regulatory environment for foreign investment in 27 jurisdictions worldwide. Published and distributed by Lexology Panoramic, the guide discusses law and policy on oversight of foreign investment, regulatory frameworks, procedural requirements, and other important considerations for foreign investors. The Laos chapter aims to give investors an understanding of what to expect when establishing operations and operating in the Lao market, covering: Law and Policy: Government policies and practices, main laws and their scope of application (including details on investment promotional measures), definitions, rules for state-owned enterprises and sovereign wealth funds, relevant authorities and oversight, and national interest provisions. Procedure: Jurisdictional thresholds, national interest clearance, securing approval, the review process for competition clearance and associated penalties, involvement of authorities, facilitation of clearance, and post-closing regulatory powers. Substantive assessment: Substantive tests for clearance, authorities’ consultation with other countries and other relevant parties, transactional prohibitions and objections, mitigating arrangements and challenges to a decision, and protection of confidential information. Recent cases, updates, and trends: Relevant recent case law, key recent and ongoing developments. A PDF of the Laos chapter can be accessed through the button below. Tilleke & Gibbins also contributed the Cambodia, Myanmar, and Vietnam chapters to Foreign Investment Review 2025. Readers can also gain 30 days of complementary access to the full Foreign Investment Review 2025 guide and the rest of Lexology Panoramic’s varied offerings through this link.