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

Author

Listed:
  • Bajrawan NUCHPRAYOOL

    () (Graduate School of Law, National Institute of Development Administration)

Abstract

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.

Suggested Citation

  • Bajrawan NUCHPRAYOOL, 2016. "Legal improvement on Public-Private Partnership for sustainable development of basic infrastructures in CLMV countries," Proceedings of International Academic Conferences 4106710, International Institute of Social and Economic Sciences.
  • Handle: RePEc:sek:iacpro:4106710
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    File URL: https://iises.net/proceedings/25th-international-academic-conference-oecd-paris/table-of-content/detail?cid=41&iid=047&rid=6710
    File Function: First version, 2016
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    References listed on IDEAS

    as
    1. Asian Development Bank (ADB) & Asian Development Bank (ADB) & Asian Development Bank (ADB) & Asian Development Bank (ADB), 2014. "Cambodia: Country Poverty Analysis 2014," ADB Reports RPT146839, Asian Development Bank (ADB).
    2. Public-Private Infrastructure Advisory Facility, 2002. "Private Solutions for Infrastructure in Cambodia : A Country Framework Report," World Bank Publications, The World Bank, number 15223.
    3. Emiko Fukase & Will Martin, 2001. "Free Trade Area Membership as a Stepping Stone to Development : The Case of ASEAN," World Bank Publications, The World Bank, number 13847.
    4. World Bank, "undated". "World Bank East Asia and Pacific Economic Update, April 2016," World Bank Other Operational Studies 24015, The World Bank.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Public Service; Infrastructure; Private Investment; Foreign Investment Law; Public-Private Partnership (PPP); ASEAN community; CLMV countries;

    JEL classification:

    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law
    • K40 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - General
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)

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