Econ
Economic Development Forum for Mekong Subregion nations: Increasing regional connectivity
The Ninth Economic Corridors Forum under the Greater Mekong Subregional Economic Cooperation (GMS) Program co-ordinated by the Ministry of Planning and Investment (MPI) and the Asian Development Bank (ADB) was opened on September 19 in Hanoi.
The program saw the attendance of Ministers and Government officials from the GMS (Cambodia, Lao PDR, Myanmar, Thailand and Vietnam) as well as ADB senior officials.
According to Vice Minister of Planning and Investment Dang Huy Dong, the GMS in general and the development of the economic corridor in particular, with support from ADB and development partners will help countries turn difficulties and challenges into opportunities, to realize its full development potential and achieve equitable and sustainable development in the country and the region. This is the most effective tool for us to achieve a common strategy that is to strengthen linkages, enhance competitiveness and enhance community spirit.
One of the key directions for achieving these goals is improving transport, facilitating trade, as well as developing special economic zones such as economic zones at the border gates.
Ramesh Subramaniam, ADB's Director General for Asia and the Pacific shared the need to launch multimodal transportation infrastructure activities to enhance connectivity in the region. In particular, the transport links of rail, sea and inland waterways are the foundations of economic corridors. The important question is how to ensure that these infrastructure connections bring the desired benefits to increase trade, investment, and industrial growth, employment and income.
According to ADB's assessment, there is a need to strengthen infrastructure connectivity within the subregion, how to mobilize finance through PPP, reduce non-tariff barriers in the region and between the subregion and other regions.
The purpose of the forum is to strengthen bilateral and multilateral economic cooperation in order to exploit and develop comparative advantages among regions, member countries; improve competitiveness and narrow the development gap. The forum will focus on topics such as the financing of infrastructure, the model of combining electricity trading and the elimination of trade barriers to the development of e-commerce. The exchange of experiences on the establishment and development of these economic zones will be an effective direction for GMS economic corridor development initiatives in the future.
According to Vice Minister of Planning and Investment Dang Huy Dong, the GMS in general and the development of the economic corridor in particular, with support from ADB and development partners will help countries turn difficulties and challenges into opportunities, to realize its full development potential and achieve equitable and sustainable development in the country and the region. This is the most effective tool for us to achieve a common strategy that is to strengthen linkages, enhance competitiveness and enhance community spirit.
One of the key directions for achieving these goals is improving transport, facilitating trade, as well as developing special economic zones such as economic zones at the border gates.
Ramesh Subramaniam, ADB's Director General for Asia and the Pacific shared the need to launch multimodal transportation infrastructure activities to enhance connectivity in the region. In particular, the transport links of rail, sea and inland waterways are the foundations of economic corridors. The important question is how to ensure that these infrastructure connections bring the desired benefits to increase trade, investment, and industrial growth, employment and income.
According to ADB's assessment, there is a need to strengthen infrastructure connectivity within the subregion, how to mobilize finance through PPP, reduce non-tariff barriers in the region and between the subregion and other regions.
The purpose of the forum is to strengthen bilateral and multilateral economic cooperation in order to exploit and develop comparative advantages among regions, member countries; improve competitiveness and narrow the development gap. The forum will focus on topics such as the financing of infrastructure, the model of combining electricity trading and the elimination of trade barriers to the development of e-commerce. The exchange of experiences on the establishment and development of these economic zones will be an effective direction for GMS economic corridor development initiatives in the future.
