Okay, before I comment on the aesthetics of the map I've got to get down to the nitty gritty.
---Cochinchina~~ 3 Countries; 3 Borders; 7 Attack routes. This continent seems undervalued, 3 borders for a bonus of 3 isn't much. But this continent is really the least of all your worries.
---Annam~~ 6 Countries; 5 Borders; 12 Attack routes. Honestly this country has way too many borders to defend it properly. It would be a lost cause, and as it stands 6 bonus even seems to low. Now I know that in these countries in real life there are mountains. Perhaps adding a few impassable borders would help make this map actually playable. Suggestion: A mountain range cutting off Hue from Sekong, and extending north to Dong Hoi, cutting it off from Khammuan. Annam would then have 3 borders, and easier to actually hold in play. The bonus would have to be dropped. I suggest some sort of mountain barrier somewhere for this continent.
---Tonkin~~ 7 Countries; 3 Borders; 4 Attack routes. As it stands this continent is actually doing currently alright. It could use perhaps a bonus up to 4 to make it appealing to hold the 3 borders
---Laos~~ 9 Countries; 7 Borders; 12 Attack routes. As it stands on the map this continent is in utter chaos. The bonus of 7 doesn't even justify trying to hold this continent, for it would be infeasble to even attempt to do so. Again I suggest adding some sort of mountain ranges. The mountain range that could be added to help Annam could also be used to help Laos. Also I know there are some rivers that do run this area up north, and surely Laos would benefit from adding a few impassable borders. Otherwise this becomes simply no man's land.
---Cambodia~~ 6 Countries; 4 Borders; 7 Attack routes. As it stands on the map this country is slightly more balanced than some of the others. 4 borders is pushing it though for a value of only 4. Now a lot of rivers do run through Cambodia. The Mekong is a major river that could be used. There are also smaller rivers like: Song Ba, Srepok, Se San. Any addition those would greatly improve the playability of this map.
---In addition I only count 31 countries...could use a boost there. And it would truly benefit the map to have the number of countries be a RISK numbers (I.E. easily divisible by the amount of players).
Now on aesthetics.
-----I immensely dislike the white background for this map. This area is bordered both by water (The South China Sea, the Gulf of Siam, the Gulf of Tonkin), and also by land to the west of Thailand. I think adding those such things for aesthetics would make the map look more realistic and appealing than it currently is.
-----The white circles have got to go. Definitely go for a shade of gray. As it is currently it looks like someone took a paper hole punch to your map. Also the circles out into the middle of nowhere distract, and should be somehow added to the mainland like the others.
-----The colors aren't so bad, but I do suggest adding some sort of shading or texture to at least not make everything so uniform. Perhaps though toning down some of the colors as someone mentioned earlier would benefit this map.
-----The font is alright. Perhaps some sort of font that would compliment this Asian area would be more proper. In some places like Mondulkiri the font is visibly hard to read due to blurriness. Same with Hua Phan. Also Hanoi seems a little drastic. Perhaps by moving Hai Phong's circle you could fit the small name of Hanoi into the country, rather than horribly far from it.
-----The legend needs some sprucing up. It looks like it was thrown together in the last minute. It would benefit from texture, pictures, and sort of visual appealing things. Tonkin seems to have some little white dots surrounding the letters in the red, getting rid of those would help improve a finished quality of the map.
-----I think you could save a lot of space on the map by moving and making the name smaller, and moving the legend around. There is a lot of unneeded space.
Overall this map needs a complete overhauling work on the borders. Then moving from there into visuals. This maps is far from playable, but with time it could become a rather fun and enjoyable map to conquer.