The Joint Declaration adopted at the 11th CLV Summit provides a foundation for the socio-economic development plan until 2030. Photo by VNA.

11th CLV Summit Commits to Strengthen Development Triangle Area

Cambodia, Lao PDR, and Viet Nam (CLV) Leaders expressed their firm commitment to strengthen the CLV Development Triangle Area (DTA) in order to accelerate economic growth, alleviate poverty, and promote socio-cultural progress in the subregion. At the 11th CLV Summit held online on 9 December, they adopted a Joint Declaration that provides a foundation for the subregion’s socio-economic development plan until 2030 and the Tourism Development Plan. They also adopted the Development Plan for Sustainable Rubber Industry.  

GMS in the News

The 9th ACMECS Summit Declaration emphasized post-pandemic socio-economic recovery and preparation for future crises. Photo by OCM.

9th ACMECS Summit Declaration Focuses on Post-pandemic Recovery

Leaders of Cambodia, Lao PDR, Myanmar, Thailand, and Viet Nam adopted the Phnom Penh declaration at the 9th Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) Summit held on 9 December. The declaration emphasizes post-pandemic socio-economic recovery and preparation for future crises and challenges through public health cooperation and enhanced supply chains. ACMECS leaders stressed the importance of vaccine multilateralism to ensure equitable and safe access to coronavirus disease (COVID-19) vaccines. 

GMS in the News

Climate Resilient Rural Infrastructure Project in Northern Viet Nam Successfully Promotes Application of Bioengineering Techniques

Viet Nam is a hazard-prone country. Its 3,260-kilometer coastline is regularly exposed to typhoons, floods, drought, coastal erosion, and landslides. This poses significant threats to roads, embankments, and water supply infrastructure. An estimated 97% of average annual economic losses from natural hazards is caused by flooding. 

Projects

How Agribusiness Financing Can Have Transformational Impact on Asia and the Pacific

Agriculture accounts for more than half the workforce in most ADB developing member countries. In the Greater Mekong Subregion, agriculture forms the backbone of its countries’ economies, directly supporting the livelihoods of nearly 200 million people with over 60% of the subregion’s 340 million inhabitants engaged in small-scale agriculture. 

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The development of night markets in three towns along the Mekong River aims to help revitalize the Greater Mekong Subregion and reduce poverty. Photo credit: Javier Coloma Brotons.

Increasing Economic Activities through Night Markets

A pilot project has developed night markets in selected border towns in the Greater Mekong Subregion (GMS) to take advantage of the economic opportunities opened by infrastructure projects in the area.

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The project will help install eight modernized irrigation systems in five drought-affected provinces, which will improve agricultural productivity in Viet Nam. Photo: ADB.

ADB Project to Modernize Irrigation Systems, Improve Agricultural Productivity in Viet Nam

HA NOI, VIET NAM (27 November 2018) — The Asian Development Bank has approved over $100 million in financing to help the Government of Viet Nam install eight modernized irrigation systems in five drought-affected provinces, which will improve agricultural productivity, especially among farmers growing high-value crops such as coffee, peppers, grapes, dragon fruits, and mangoes.

News Releases

Viet Nam is the world’s second largest coffee producer after Brazil, and it is the largest producer of Robusta coffee, which is well-suited for soluble coffee. Photo: ADB.

ADB, JICA Support Expansion of Coffee Value Chain in Viet Nam

Singapore-based agribusiness group Olam International has secured $163 million in financing from the Asian Development Bank (ADB) and the Japan International Cooperation Agency (JICA), including $80 million in loans for its coffee subsidiary in Viet Nam.

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