The Hanoitimes - The 9th Economic Corridors Forum under the Greater Mekong Sub – region (GMS) has been jointly held by Ministry of Planning & Investment and Asian Development Bank (ADB) on September 19 at Hanoi.
Attending the forum are ministers and government officers from countries in the GMS (Cambodia, Laos, Myanmar, Thailand and Vietnam), as well as senior officers of ADB.
According to the Vice Minister of Planning & Investment Dang Huy Dong, GMS in general and the development of economic corridors in particular, with the support of ADB and other partners, countries in the region will turn difficulties and challenges into opportunities to realize their potential, in turn obtaining sustainable development in country and region. This is an efficient instrument to achieve the general strategy, which is the linkage improvement, enhancing competitiveness and community spirit.
One of the important orientation to achieve these objectives are transportation development, creating condition on trade & commerce, as well as the development of special economic zones such as border gate economic zones.
Director General of ADB Ramesh Subramaniam said, it is necessary to develop multi modal transport infrastructure, which is aimed to improve connectivity in the region, especially transport connectivity served as foundations for economic corridors, such as railways, sea, and inland waterway. The important question is how to ensure theses infrastructure connectivity will bring benefits as expected, with a view to promote trade activities, investment, industrial growth, job creation and increase income.
According to ADB evaluation, countries in the subregion has to increase infrastructure connectivity, with the mobilization of financial resources through public – private partnership (PPP), reduce trade barriers and promote trade among subregions and other regions in the world.
With the objective of both bilateral and regional economic cooperation improvement, as such, taking advantages of each country to increase competitiveness and narrow the developmental gap. The forum focuses on financial mobilization for infrastructure, integrating online transaction and removing trade barriers for the development of e-commerce. Representatives also discussed solutions to increase cooperation through integration in implementing plans on sharing experiences both in and outside the region. It served to promote the participation of private sector into this region; at the same time, mentioning the role of economic zone, border gate economic zones and industrial complexes in the development of economic corridors. Discussions on experiences for the establishment and development of these economic zone will be an efficient solution for developmental recommendations for economic corridors of GMS in the future.