November 24, 2015
Two years ago, the Private Investment in State Undertaking Act B.E. 2556 (2013) (PISUA) replaced the Private Participation in State Undertaking Act B.E. 2535 (1992) (PPSUA), which set out the criteria for a private party to jointly operate a government project. There were calls to replace the PPSUA because the law had a convoluted project approval process that discouraged private investment. During its 21-year lifespan, only 40 projects were completed under the PPSUA.