ADB recognizes the vital role of the private sector in promoting inclusive growth and reducing poverty across the Asia and the Pacific region. However, absent or outdated legal and regulatory frameworks and knowledge and resource constraints are barriers to unlocking private investments to support sustainable economic development in ADB developing member countries.
Our Impact
ADB’s LPR Program has been assisting to establish or modernize laws fundamental to support private sector and PPP development, as well as to attract foreign direct investment and trade, including mobilizing private climate finance and investments. To ensure that laws are effectively implemented and enforced, ADB’s LPR Program also provides capacity building to key implementing parties and develops tailored knowledge resources.
Establishing an effective dispute resolution system through international commercial arbitration to attract FDI and international private climate finance
- Supporting the accession to the New York Convention and implementing international arbitration laws based on UNCITRAL Model Law and international best practices
- Supporting the establishment and operationalization of arbitration centers and drafting of institutional rules
- Capacity building of judges, lawyers, and private sector and convene knowledge sharing conferences to assist client countries stay abreast of new developments
Strengthening Insolvency Systems in Asia and the Pacific
- Modernizing insolvency laws to address current and emerging needs of businesses and reflect the economic context of each country
- For example, updating insolvency laws to include corporate rescue and rehabilitation processes catering specifically to micro-small and medium-sized enterprises and UNCITRAL Model Law on Cross-Border Insolvency with the internationalization of commercial transactions
Enhancing PPP Legal and Regulatory Frameworks to Create Markets and Mobilize Financing
- Assisting with drafting PPP laws and regulations
- Developing bankable PPP structures and documentation
- Capacity building of public sector agencies and government stakeholders
Strengthening Knowledge on International Investment Agreements and Regional Trade Agreements
- Delivering capacity building to multiple stakeholders involved in the drafting, negotiation and implementation of investment treaties and free trade agreements and prevention and management of disputes
- Advising on development of model bilateral investment treaties to align with sustainable development goals and overall investment regime
- Producing knowledge resources such as checklists and handbooks for treaty negotiators
Advisory Services for Specialized Commercial Courts and Alternative Dispute Resolution Centers
- Assisting with drafting enabling legislation and court procedures for domestic and international commercial courts
- Supporting the establishment and operationalization of arbitration and mediation centers
Judicial Capacity Building and Knowledge Sharing on Commercial Laws and Practices
- Partnerships with over 30 Supreme Courts across Asia and the Pacific, as well as links to courts and experts around the globe
- Developing targeted knowledge resources and promoting mutual exchange of best practices among judiciaries across Asia and the Pacific
ADB Hosts Strengthening Insolvency Systems in Asia and the Pacific Event
"These legislative and judicial reforms will enhance the ability of citizens to protect their rights and fundamental freedoms, as well as ensure true judicial independence. The Supreme Court stands ready to facilitate the incorporation of international best practices into Uzbekistan’s judicial system."
Mr. Farrukhkhon Malikov, Head of the International Cooperation Department of the Supreme Court of the Republic of Uzbekistan
Success Stories
ADB Develops New E-Learning Platform for ASEAN Judges to Enhance Judicial Education
In partnership with the Council of ASEAN Chief Justices (CACJ), ADB’s Law and Policy Reform Program launches the first-of-its-kind e-learning platform and e-learning module on international commercial arbitration. Over 100 judges from ASEAN member states attended the event and discussed the evolution of judicial education, particularly in the era of technological advancements.
ADB Supports Papua New Guinea in Enacting State-of-the-Art Arbitration Laws to Create an Enabling Environment for the Private Sector
ADB's Law and Policy Reform Program, in partnership with the Pacific Private Sector Development Initiative (PSDI) and the United Nations Commission on International Trade Law (UNCITRAL) assisted with Papua New Guinea's (PNG) enactment of two arbitration laws which are expected to attract foreign direct investment and international private climate finance.
ADB Convenes Cambodia’s First Commercial Courts Symposium
ADB and the Ministry of Justice held Cambodia’s first-ever Commercial Courts Symposium on operationalizing effective and efficient commercial courts. The Symposium convened over 120 senior government officials, judges, business leaders and international experts to exchange knowledge about experiences and lessons learned in developing commercial courts around the world.
In Action
Training of Trainers: Judicial Resolution of Disputes in Selected Areas of Commercial Law
ADB conducts training with Royal Academy of Justice of Cambodia
Armenia Arbitration Week
ADB and partners hosted the Armenia Arbitration Conference to increase business confidence by promoting a state-of-the-art international commercial arbitration disputes regime in Armenia and across the globe.
Knowledge Resources
Third South Pacific International Arbitration Conference: Post Conference Booklet
ADB, UNCITRAL, the Australian Department of Foreign Affairs and Trade, the Australian Centre for International Commercial Arbitration, and other partners, host the Third South Pacific International Arbitration Conference to raise awareness on the positive development impact of international arbitration reform.
Second South Pacific International Arbitration Conference: Enhancing the Rule of Law & Increasing Business Confidence in a Globalized Economy
To raise awareness and discuss the positive development impact of international arbitration reform in the South Pacific, the Government of Papua New Guinea, ADB, UNCITRAL Regional Centre for Asia and the Pacific and other partners hosted the Second South Pacific International Arbitration Conference.
The Dawn of International Arbitration in the South Pacific
The Government of Fiji, in collaboration with Asian Development Bank and United Nations Commission on International Trade Law (UNCITRAL) Regional Centre for Asia and the Pacific, cohosted the first-of-its kind inaugural South Pacific International Arbitration Conference to raise awareness and discuss the positive development impact of international arbitration reform in the South Pacific.
Events
ADB holds Consultations on Bhutan’s New Insolvency Rescue Bill
On 15-17 April 2024, ADB and Bhutan’s Ministry of Finance held stakeholders' consultations on the draft new Insolvency Rescue Bill of Bhutan 2024 in Paro, Bhutan. The objective of the new law is to simplify the current insolvency law, which is seen as complex and impractical particularly for MSMEs and individuals.
ADB Supports the Operationalization of Cambodia's First Commercial Court
ADB Country Director, Jyotsana Varma, and Minister of Justice Excellency Koeut Rith sign MOU, marking an important step towards operationalizing Cambodia's first commercial court, a top priority of the Ministry of Justice.
Strengthening Insolvency Systems in Asia and the Pacific
ADB and partners convened the Strengthening Insolvency Systems in Asia and the Pacific Conference. Gathering industry experts and academics, the event explored how countries in Asia and the Pacific can strengthen their insolvency and restructuring frameworks, taking into account a country specific context.