The Greater Mekong Subregion(GMS) is a development project set by the Asian Development Bank in 1992. GMS’s countries consist of six countries near the Mekong River basin, namely Cambodia, Laos, Myanmar, Thailand, Vietnam and the Yunnan Province of China. With assistance from the Asian Development Bank, the six countries entered into a program of subregional economic cooperation, designed to enhance economic relations among the countries. In particularly China, Vietnam, Cambodia, Laos and Myanmar are the so-called transition countries. In the late 1980s, China, Vietnam, Cambodia, Laos and Myanmar abandoned their centrally-planned, socialist models and began the transition to more open and market-oriented capitalist economies. This paper introduces the framework of the Enterprise Law comparing with the Korean law in some points. Especially, this paper focuses on the company’s establishment. Vietnam and Thailand have recently revised the Enterprise law. It significantly improved the process for forming a new company. The Enterprise Law creates more transparent procedures for private businesses, significantly simplifies regulations and procedures to start businesses, and moves from discretionary licensing to automatic registration, by way of the implementation of a negative list of restricted or prohibited activities. However, the ambiguity in licensing and regulatory procedures impedes the daily work and growth opportunities of enterprises. Furthermore, the continued state domination of the national economy limits the opportunities for robust private enterprise. Therefore, more comparative studies on the enterprise law of advanced industrial nations including Korea can be essential for the development of enterprise law in GMS’s countries.