This publication identifies bottlenecks to regional power trading in the Greater Mekong Subregion (GMS) and proposes solutions to overcome them.
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.
Viet Nam Prime Minister Nguyen Xuan Phuc holds talks with his Lao PDR Prime Minister Thongloun Sisoulith. Photo by VGP via Nhandan.
Lao People's Democratic Republic (PDR) Prime Minister Thongloun Sisoulith and Viet Nam Prime Minister Nguyen Xuan Phuc held a phone conversation to discuss bilateral ties and regional cooperation. Noting that Lao PDR and Viet Nam have managed the COVID-19 pandemic well, they highlighted the need to further facilitate cargo and passenger movement between their countries, and to soon reach consensus on plans to reopen mainland border gates and resume commercial flights.
The 10th Cambodia, Lao PDR, Myanmar, Vietnam (CLMV) Summit, held on 9 December, emphasized enhancing effective connectivity for regional integration.
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.
COVID-19 equipment donated by the International Atomic Energy Agency (IAEA) to to Viet Nam. Photo: IAEA Imagebank (CC BY 2.0)
Strong commitments toward achieving universal health coverage (UHC) made by some developing member countries of the Asian Development Bank (ADB), including Greater Mekong Subregion members Thailand and Viet Nam, prepared these countries to better manage the health and economic impacts of the coronavirus disease (COVID-19) pandemic.
Cambodia, Lao People’s Democratic Republic (PDR), Myanmar, and Viet Nam (CLMV) economic ministers endorsed the CLMV Action Plan 2021-2022 focusing on (i) trade and investment cooperation, (ii) implementation of regional commitments, (iii) pandemic recovery plan, (iv) Framework for CLMV Development, and (v) human resource development.
The joint venture V1-2 wind power plant between the Truong Thanh Viet Nam Group and the Sermsang Power Corporation Public Company Limited of Thailand launched construction in Tra Vinh, Viet Nam, on 14 August. The 48 MW peak facility consists of 12 wind turbines to be built on 1,220 hectares in the Truong Long Hoa commune, Duyen Hai town. The project is estimated to cost around $96 million (2.23 trillion VND), and is expected to generate around 163 million kWh of electricity each year.
The Mekong River Commission Joint Committee called on Lao PDR to address comments and recommendations from Cambodia, Thailand, and Viet Nam for the 1,460-megawatt Luang Prabang hydropower project.
This brief presents new projections on the economic impact of COVID-19 and highlights policy implications.
