Econ
The development of Mekong Delta is key for prosperity of the Greater Mekong Sub-region
Ministers from the six member countries of the Greater Mekong Sub-region (GMS) has endorsed a five-year action plan framework that includes $64 billion in projects to help the sub-region achieve inclusive growth and sustainable development.
Ministers at the 22nd GMS Ministerial Conference celebrated 25 years of economic cooperation, acknowledging the achievements of a program that has created a strong bond of openness, mutual trust, and shared commitment.
Six countries consist of: Cambodia, the People's Republic of China (specifically Yunnan Province and Guangxi Zhuang Autonomous Region), Lao People's Democratic Republic, Myanmar, Thailand, and Viet Nam — entered the program in 1992, with assistance from the Asian Development Bank (ADB), to enhance economic relations. Under the program, investment projects worth more than $19.1 billion have so far been undertaken.
“Although ADB facilitated the process, the initiative was driven by the countries themselves, with a sharp focus on joint action to address common challenges,” said ADB Vice-President Stephen Groff. “The GMS Program has been guided by the 3 Cs: connectivity, competitiveness, and community. This overarching approach to regional development produced significant results.”
At the meeting on September 20, the ministers welcomed the preparation of the Ha Noi Action Plan (HAP) 2018-2022, which calls for an expansion of economic corridors to boost connectivity between countries as well as within rural and urban centers to ensure a more equitable distribution of the benefits of economic growth. They also endorsed the GMS Regional Investment Framework 2022, to support the HAP through a pipeline of 222 investment and technical assistance projects valued at $64 billion. The ministers urged greater engagement of development partners and private sector to meet financing requirements in the GMS.
The ministers extended strong support for a new GMS Transport Sector Strategy that aims to build a seamless, efficient, reliable, and sustainable GMS transport system. This will be achieved through the improvement of the sub-region’s links with South Asia and other parts of Southeast Asia, better cross-border transport, strengthened intermodal transport links and logistics development, as well as enhanced road safety. The GMS Tourism Sector Strategy 2016-2025 was also endorsed to enable more competitive, balanced, and sustainable destination development. The ministers welcomed the progress towards the formal establishment of the Mekong Tourism Coordinating Office as an intergovernmental organization.
In agriculture, they welcomed the endorsement by the Second GMS Agriculture Ministers’ Meeting of a strategy to promote safe and environment-friendly agriculture products, and a plan to strengthen value chain integration involving smallholder farmers, rural women, as well as small and medium-sized agro-enterprises.
According to the Minister of Planning & Investment Nguyen Chi Dung, the GMS is a breakthrough and one of the most successful ideas on the cooperation and integration of the region. Ideas of the GMS focus on 9 aspects, including: transport, energy, environment, tourism, telecommunication, trade, investment, human resources, agriculture. In the past 25 years, the program has created deep connection between countries through projects in fields of infrastructure development, energy, tourism and agricultural development; contributes significantly to the competitiveness of GMS countries. In the coming time, GMS countries will need to improve cooperation to mobilize resources from developmental partners, at the same time encourages the active participation of private sector.
The Minister Nguyen Chi Dung stressed, Vietnamese’s Government is committed to strongly support the GMS. At present, Vietnam is actively mobilizing financial resources from international organizations to implement priority projects which Vietnam is involved. Vietnam will continue cooperate closely with GMS countries, ADB, other developmental partners, as well as the private sector to carry out objectives of GMS.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members—48 from the region. In 2016, ADB assistance totaled $31.7 billion, including $14 billion in co-financing.
Six countries consist of: Cambodia, the People's Republic of China (specifically Yunnan Province and Guangxi Zhuang Autonomous Region), Lao People's Democratic Republic, Myanmar, Thailand, and Viet Nam — entered the program in 1992, with assistance from the Asian Development Bank (ADB), to enhance economic relations. Under the program, investment projects worth more than $19.1 billion have so far been undertaken.
“Although ADB facilitated the process, the initiative was driven by the countries themselves, with a sharp focus on joint action to address common challenges,” said ADB Vice-President Stephen Groff. “The GMS Program has been guided by the 3 Cs: connectivity, competitiveness, and community. This overarching approach to regional development produced significant results.”
At the meeting on September 20, the ministers welcomed the preparation of the Ha Noi Action Plan (HAP) 2018-2022, which calls for an expansion of economic corridors to boost connectivity between countries as well as within rural and urban centers to ensure a more equitable distribution of the benefits of economic growth. They also endorsed the GMS Regional Investment Framework 2022, to support the HAP through a pipeline of 222 investment and technical assistance projects valued at $64 billion. The ministers urged greater engagement of development partners and private sector to meet financing requirements in the GMS.
The ministers extended strong support for a new GMS Transport Sector Strategy that aims to build a seamless, efficient, reliable, and sustainable GMS transport system. This will be achieved through the improvement of the sub-region’s links with South Asia and other parts of Southeast Asia, better cross-border transport, strengthened intermodal transport links and logistics development, as well as enhanced road safety. The GMS Tourism Sector Strategy 2016-2025 was also endorsed to enable more competitive, balanced, and sustainable destination development. The ministers welcomed the progress towards the formal establishment of the Mekong Tourism Coordinating Office as an intergovernmental organization.
In agriculture, they welcomed the endorsement by the Second GMS Agriculture Ministers’ Meeting of a strategy to promote safe and environment-friendly agriculture products, and a plan to strengthen value chain integration involving smallholder farmers, rural women, as well as small and medium-sized agro-enterprises.
According to the Minister of Planning & Investment Nguyen Chi Dung, the GMS is a breakthrough and one of the most successful ideas on the cooperation and integration of the region. Ideas of the GMS focus on 9 aspects, including: transport, energy, environment, tourism, telecommunication, trade, investment, human resources, agriculture. In the past 25 years, the program has created deep connection between countries through projects in fields of infrastructure development, energy, tourism and agricultural development; contributes significantly to the competitiveness of GMS countries. In the coming time, GMS countries will need to improve cooperation to mobilize resources from developmental partners, at the same time encourages the active participation of private sector.
The Minister Nguyen Chi Dung stressed, Vietnamese’s Government is committed to strongly support the GMS. At present, Vietnam is actively mobilizing financial resources from international organizations to implement priority projects which Vietnam is involved. Vietnam will continue cooperate closely with GMS countries, ADB, other developmental partners, as well as the private sector to carry out objectives of GMS.
ADB, based in Manila, is dedicated to reducing poverty in Asia and the Pacific through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, ADB is celebrating 50 years of development partnership in the region. It is owned by 67 members—48 from the region. In 2016, ADB assistance totaled $31.7 billion, including $14 billion in co-financing.
