The aim of this study is to analyse the potential of Cambodia, Laos, Myanmar and Vietnam (CLMV countries) to upgrade or diversify their industrial structures by attracting more investment from more advanced ASEAN countries. Chapter 1 outlines the research methodology. Chapter 2 describes investment climates in major CLMV cities. Chapters 3 to 5 analyse the possibility of relocating or fragmenting firms in Malaysia, Thailand and Indonesia to CLMV countries. Chapters 6 to 9 describe the possibility of upgrading or diversifying existing industrial structures in CLMV countries. Chapter 10 describes current trade facilitation schemes and transport infrastructure. Chapter 11 presents the analytical results of the compiled surveys.