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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 However, absent or outdated legal and regulatory frameworks and knowledge and resource constraints are barriers to unlocking private investments to support sustainable economic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

Effective Insolvency Systems:

 

  • Encourage foreign and domestic investment
  • Promote private sector development
  • Enable efficient resolution of commercial disputes

 

"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 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.

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ADB Supports Development of International Commercial Arbitration in Uzbekistan

ADB and the University of World Economy and Diplomacy convened a conference on the development of international commercial arbitration in Uzbekistan, following the enactment of the Law on International Commercial Arbitration (ICA Law) which was supported by ADB. 

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In Action

ADB Hosts Colloquium for Judges on the Recognition and Enforcement of Foreign Arbitral Awards 

Deputy Chairman of the Supreme Court, Justice Shukhrat Polvonov, Justice Anselmo Reyes, International Judge at the Singapore International Commercial Court, and judges across 14 regions in Uzbekistan attended the event to discuss Best International Practice on Recognition and Enforcement of Foreign Arbitral Awards.

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.

ADB's Legal Team Conducts Brownbag Seminar on Uzbekistan Arbitration Law Reform

ADB hosted a Brown Bag seminar to discuss the development and adoption of a Law on International Commercial Arbitration in Uzbekistan, which received a compliance check by the UNCITRAL. The participants discussed the importance of the Law to the country’s business climate and governance.

 

Knowledge Resources

 

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.

Promoting Business Confidence Through International Commercial Arbitration

This webinar kicks off ADB’s international commercial arbitration webinar series and will feature a conversation among key stakeholders and experts on how international commercial arbitration can promote business confidence in Timor-Leste.