Water privatisation is taking on an increasingly serious dimension in the developing world, particularly in the Asian region where major transformations are underway in the organisation and management of water resources.

Described as the oil of the 21st century, water is a major global concern mainly shared by south countries.

Water security issues has dominated many non-government organisation and civil society forums in recent years, mainly to discuss private efforts to reorganise water resources in terms of ownership, management, distribution and access.

The prevailing argument is that private money, as opposed to the government borrowing from banks, would cost more as it is based on borrowed capital with attached interest rates.

Last week, two workshops at the 5th Asia-Europe (ASEM) People's Forum in Hanoi shared experiences in the Philippines, the UK, Vietnam and Malaysia on attempts by the private sector to harness the world's most vital natural resource.