Thailand has implemented several infrastructure projects under the Private Participation in State Undertakings (PPSU) Act since its enactment in 1992. The law, essentially an anticorruption measure, appears to be an obstacle rather than a promoter of PPP implementation in Thailand. In recognition of this, a new Public Private Partnership (PPP) bill has been drafted and is now in the final stages of enactment. The new PPP bill is intended to improve the regulatory framework for implementing PPPs in Thailand and attract more private capital into infrastructure finance. Research into the current practices of the Thai government in administering PPP projects and comparison of the current and proposed PPP law are thus timely. The paper highlights the flaws of the current PPP regime and how they are addressed by the new bill. Concerns and challenges of implementation of the new PPP law by the Thai government are also discussed. [ABSTRACT FROM AUTHOR]