Legal PPP agenda for ASEAN nations

 

The Association of Southeast Asian Nations in want of a compact legal PPP framework

 

 

In a meeting the Thai representative Pradap Pibulsonggram said Malaysia, Thailand and Vietnam who are also among ASEAN member had already established the legal framework.

 

 

However, some countries do not have it, he said.

 

 

Such framework is vital to persuade the private sector to participate, as they need such reassurance.

 

 

Pibulsonggram said ASEAN member states recognized the significance of PPP in mobilising private sector possessions and they were trying their best to come out with a complete PPP law.

 

According to ASEAN secretary-general Le Luong Minh, the region needs $100bn a year from 2010 to 2020 for infrastructure development while investments from the public sector and dialogue partners were expected to accommodate only between $47bn and $50bn a year.

 

ASEAN was established in 1967 by Malaysia, Singapore, the Philippines, Thailand and Indonesia, and later joined by Brunei, Vietnam, Laos, Myanmar and Cambodia.