The paper assesses the current state of governance in 14 Least Developed Countries (LCDs) in the Asia-Pacific region, analysing the specific political, economic and social challenges currently facing these LDCs. The main conclusion reached in the paper is that, although all the governance indicators analyzed carry an important weight in furthering human development and poverty reduction, the sequencing of governance reforms must take into account the specific country context and conditions. Prioritizing political reforms without first ensuring that the social, economic and political foundations for democratization are in place could compromise the achievement of the poverty reduction goals.