The Government of Thailand eyes an investment target of THB 500 billion (around $13.7 billion) for its Eastern Economic Corridor (EEC) over the next five years, focusing on industries such as electric vehicle development, medical services, biotechnology infrastructure, and digital industries.
The Viet - Smart Tourist Card. Photo by Viet Nam Tourism website
The Greater Mekong Subregion (GMS) Economic Cooperation Program Strategic Framework 2030 (GMS-2030) emphasizes new possibilities opened by digitalization. At the recently held 51st GMS Tourism Working Group Meeting (TWG-51), GMS countries highlighted various digital initiatives they are implementing, which are helping boost their tourism markets and improve visitor management.
Thailand’s unemployment rate dropped to 1.05%, its lowest in three years, as the country’s tourism industry rebounds.
A cruise ship in Ha Long Bay, Viet Nam. Photo by Bryan Lippincott (CC BY-ND 2.0)
The 25th Meeting of ASEAN Tourism Ministers held on 19 January 2022 in Sihanoukville, Cambodia, exchanged views on the way forward for the recovery of the region’s tourism industry. Bearing the theme “ASEAN – A Community of Peace and Shared Future,” the Meeting discussed the impact of COVID-19 on each ASEAN member state and emphasized the development of the tourism sector amid the coronavirus disease (COVID-19) pandemic.
Decline in Tourist Growth
Thailand will accelerate its railway connectivity, in line with the opening of the railway link between the People’s Republic of China (PRC) and Lao People’s Democratic Republic (Lao PDR) in December 2021.
Trade promotion agencies of Cambodia, India, Thailand, and Viet Nam held an event promoting cross-border trade connectivity between India and countries in the Greater Mekong Subregion (GMS) on 19 August. Representatives from each country gave briefings on their business environment and exchanged experiences in facilitating trade and investment cooperation. Noting challenges caused by COVID-19, they urged governments to take measures to help their small and medium-sized enterprises (SMEs) move beyond national borders and expand markets.
The border between Aranyaprathet, Sa Kaeo, Thailand and Poipet, Cambodia. Photo by Thanate Tan via Flickr (CC BY 2.0).
Thailand's Department of Highways noted that construction of the new Highway 3646 linking Thailand and Cambodia is already 70% complete. Full completion is expected by next February. Highway 3646 will connect Ban Nong Ian in Sa Kaeo, Aranyaprathet, Thailand, to Banteay Meanchey, Cambodia, via the Thailand-Cambodia Friendship Bridge.
Border check point on the Lao PDR side of the Mekong River. Laos and Thailand are now linked by “Friendship Bridge II” completed in 2007. Photo by ADB.
Thailand’s Ministry of Transport is scheduled to complete the 6th Thai-Lao friendship bridge by 2025, according to Mr. Saksayam Chidchob, Thailand Minister of Transport. This new bridge promises to further enhance border trade and promote tourism between Thailand and the Lao People’s Democratic Republic (PDR).
Areenee Jasiti is a store assistant manager in Thailand where convenience stores have remained open, despite COVID-19. Convenience stores are one of Thailand's lifelines. Photo: UN Women/Ploy Phutpheng (CC BY-NC-ND 2.0)
The Asian Development Bank (ADB) is providing a $1.5 billion loan to support the Government of Thailand’s response to the coronavirus disease (COVID-19) pandemic.
LocalFarm enables farmers and gardeners who had relied on tourism for their incomes to market seasonal fruits, vegetables, salads, and processed fruits directly to consumers. Photo courtesy of TakeMeTour via ADB.
The Asian Development Bank’s (ADB) impact investment platform, ADB Ventures, has teamed with the Tourism Authority of Thailand (TAT) to support technology startup TakeMeTour to develop the LocalFarm online platform and help mitigate the impact of the coronavirus disease (COVID-19) pandemic on Thailand’s tourism sector.
Greater Mekong Subregion Secretariat
Regional Cooperation and Operations Coordination Division,
Southeast Asia Department, Asian Development Bank
Address: 6 ADB Avenue, Mandaluyong City 1550, Metro Manila, Philippines
Telephone: +63 2 8632 4444 Fax: +63 2 8636 2226