ADB to help attract foreign money<\/p>\n
MANILA (AFP): The Asian Development Bank (ADB) will expand
\nefforts to help developing member countries (DMCs) set up the
\nnecessary legal framework that could attract more foreign
\ninvestments, the bank said Wednesday.<\/p>\n
A statement from the Manila-based institution quoted ADB
\ngeneral counsel Barry Metzger as saying the bank is \"currently
\nreviewing its law-related programming to chart out a future
\ncourse of action\" in setting up such frameworks.<\/p>\n
\"Among the most significant challenges facing DMC governments
\nin the region is the development of new regulatory frameworks for
\neconomies with active public sector, private sector and, in many
\ncases, joint public-private sector participants,\" Metzger said.<\/p>\n
Clear-cut regulatory frameworks are needed as Asian economies
\n-- the fastest growing in the world -- become more market
\noriented and complex, the bank said.<\/p>\n
Metzger said ADB will focus on the economies of shifting from
\ncentral to a market-oriented system, regulatory frameworks in
\nspecific sectors such as electricity, telecommunications and
\ntransport, as well as capital market development.<\/p>\n
Laws governing projects under the build-operate-and-transfer
\n(BOT) scheme, security and credit, and the need for legal
\ntraining will also be part of the ADB's priorities, Metzger
\nadded.<\/p>\n
The ADB, whose membership includes 55 countries, has been at
\nthe forefront of helping Asian nations develop over the past
\nthree decades.<\/p>",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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