Faced with the specter of corporate liquidity problems brought about by the COVID-19 pandemic, the Thai government and the Bank of Thailand (BOT) have announced an array of measures to assist small and midsize enterprises (SMEs) affected by the COVID-19 pandemic. The measures range from preemptive financial support, to debt moratoria, to the granting of low interest financial assistance.Below is a chronological summary of the measures as at April 7:

On April 9, 2020, Cambodia’s Ministry of Labor and Vocational (MLVT) enacted measures to prevent the spread of COVID-19 infections during the now-postponed Cambodian New Year holiday from Monday, April 13, 2020, to Thursday, April 16, 2020.

The Bank of Thailand (BOT) has issued BOT Announcement No. Wor 277/2563, dated February 28, 2020, to provide relief measures for small and medium-sized debtors who suffer adverse economic effects from the COVID-19 pandemic. The key points of this announcement are summarized below.Revised Definition of Debt RestructuringUnder this announcement, “debt restructuring” means restructuring of debt arising from a debtor’s increased credit risks, which can be divided into two categories:

On April 8, 2020, Cambodia’s Ministry of Labor and Vocational Training (MLVT) issued an instruction to its staff not to impose any late penalties on non-Cambodian workers who want to renew their 2019 foreign work permits, but have failed to meet the initial renewal deadline, effective until further notice. The MLVT states that the instruction is intended to assist non-Cambodian workers that may not have been able to return to Cambodia to continue their work due to the global COVID-19 situation.

Vietnam’s Ministry of Labor, Invalids and Social Affairs (MOLISA) is considering a draft circular that would change regulations on working hours, including overtime, and breaks required for seasonal manufacturing workers and workers that process goods according to orders. The new regulations, if passed, would replace the current regulations under Circular No. 54/2015/TT-BLDTBXH of MOLISA, which was issued on December 16, 2015, and it is envisioned that the new regulations would come into effect on January 1, 2021.

On March 6, 2020 the Ministry of Finance issued Circular 13/2020/TT-BTC (Circular 13), which amends and supplements Circular No. 13/2015/TT-BTC on inspection, monitoring, and suspension of customs procedures for exported and imported goods subject to requests for intellectual property rights protection; and control of counterfeit and IP-infringing goods. Circular 13 will officially enter into force on April 20, 2020.Some of the noteworthy changes include the following:

On April 7, 2020, Cambodia’s Ministry of Labor and Vocational Training (MLVT) released an urgent notification to postpone the Cambodian New Year holiday, and require all employers and employees to treat April 13 to April 16, 2020, as regular working days. The postponement is in light of the current circumstances regarding the COVID-19 global pandemic, and presumably to prevent widespread travel during the holiday.