ASEAN has done much to contribute to peace, stability and prosperity in the CLMV countries by promoting initiatives to improve the development gaps and reducing poverty in the lesser-developed countries. However the effect of Asia financial crisis coupling with the global slowdown has left many nations in Asia lag behind in their national economic development. In Southeast Asian region, the CLMV is still witness profound disparity between the ‘haves’ and the ‘have-nots’. Well-off country needs to help lesser one from breakdown so as to promote prosperity for the region as a whole. To achieve greater stride in this endeavor, ASEAN and other development partners should continue to work together to achieve even more positive outcomes.