Legal improvement on Public-Private Partnership for sustainable development of basic infrastructures in CLMV countries

According to Master Plan on ASEAN Connectivity, the cooperation among the member countries leads ASEAN to Highly Competitive Economic Region. Therefore, development of basic infrastructures is one of the key factors for closing the gap and connecting the member countries together. In order to enhance people's quality of life, governments of member countries have a mission to improve basic infrastructures. Especially, the governments in CLMV region (Cambodia, Laos, Myanmar and Vietnam), wherein the population of the member countries is almost 170 million people and economic growth rate is 6-8%. Nowadays, investment policies are focusing more on the foreign investors to develop the basic infrastructure, which has resulted in a significant increase in the number of foreign investors in the period of the economic crisis in Asia.The results revealed that to promote a policy significantly, private entities must be encouraged to invest in the government projects. Furthermore, promoting Public-Private Partnership can spur economic growth, resulting in a strong commitment between public and private sectors that will lead to the development in the country. However, the investment laws in the government projects and granting processes are different and constantly amended. Especially, investment patterns and requirements for each member state are vague and there is a lack of the laws for controlling investments of private entities. These problems as stated, thus, affect investors? confidence and incoming of investment funds from local and foreign investors.