HA NOI, VIET NAM (18 December 2017) — The Asian Development Bank’s Board of Directors has approved a $150 million loan to help improve economic connectivity and raise living standards in four of Viet Nam’s northeastern provinces by enhancing basic infrastructure and services.
Developing transport infrastructure in tandem with policies and procedures for crossing borders and promoting trade has been central to efforts to interconnect the Greater Mekong Subregion countries.
Transport lies at the heart of Greater Mekong Subregion cooperation. The development of physical infrastructure, such as roads and bridges, in tandem with policies and procedures for crossing borders and developing trade along key routes, has been central to efforts to forge a truly interconnected subregion.
Physically connecting the countries of the subregion was one of the first initiatives of the GMS program when it was founded in 1992. The countries of the Greater Mekong Subregion have acknowledged that in order to cooperate in trade, tourism, and investment, and to realize the other benefits of the region, they must expand the road links and border crossings that connect them.
This is being done through the development of “economic corridors”, which are geographic areas, often along major highways, where a variety of development projects are undertaken to maximize their development benefits. This might include projects involving infrastructure, laws and regulations, market development, and the improvement of urban centers. Economic corridors bring a wide range of benefits, far beyond what single projects deliver in terms of development impact.
The three main GMS corridors—the East–West, North–South and Southern economic corridors—have improved the lives of millions of people in the Greater Mekong Subregion. These corridors are being enhanced with secondary roads that extend their benefits to nearby communities most in need, and other roads that link to strategic seaports in the subregion. The regulatory details of how people and goods can best move along these corridors are also currently being worked out.
The 21st Meeting of the Subregional Transport Forum was held in Luang Prabang, Lao People’s Democratic Republic on 19–20 July 2017.
PHNOM PENH, CAMBODIA (29 September 2017) — The Asian Development Bank’s Board of Directors has approved a $70 million loan to help provide a more efficient, safe, and disaster resilient transport sector in Cambodia, particularly by improving national roads in the provinces of Prey Veng, Siem Reap, and Svay Rieng along the Greater Mekong Subregion Southern Economic Corridor.
HA NOI, VIET NAM (20 September 2017) — Ministers from the six member countries of the Greater Mekong Subregion today endorsed a five-year action plan framework that includes $64 billion in projects to help the subregion achieve inclusive growth and sustainable development.
The third edition of the Greater Mekong Subregion Statistics booklet includes two new chapters: the Energy Sector and Bilateral Trade.
An ambitious effort is underway to connect the rail systems of Mekong countries so that passengers and freight can move seamlessly across borders.
Economic corridors, like the East-West Corridor running through the Greater Mekong Subregion, are much more than just highways. They link a variety of economic activities and have wide-ranging impacts.
The Myanmar government recently approved a project that will ensure the completion of the Greater Mekong Subregion East-West Economic Corridor, which stretches from Danang, Viet Nam to Yangon, Myanmar.
CHIANG RAI, THAILAND (1 December 2016) – A major expansion of economic corridor networks and new areas for economic investment will strengthen links between the capital cities of Mekong countries, and provide unprecedented opportunities for cross-border trade and investment under an agreement reached today by officials attending the 21st Greater Mekong Subregion (GMS) Ministerial Conference.