Support for Regional Multisector Investment Framework for Greater Mekong Subregion Development (Phase I)
Details
Funding
Project Description
The GMS countries straddle a dynamic region between large and fast growing economies in East Asia and South Asia, and it is easy to project economic activity of several trillions of dollars in the expanded region within the next decade, as indicated by the Asia 2050 study. Growth nodes of today may be surpassed by new centers catering to the increasing trade flows accompanying the high levels of economic activity. Both conceptually and operationally, now is a good time to do a regional investment framework and plan for the GMS building on existing knowledge and based on current trends and medium-term forecasts in regional economic activity, including trade and urban development. The regional investment framework can ensure that increased channeling of resources in corridor development through widening and deepening is based on comprehensive economic and technical analysis from the start, including good cost-benefit assessment. Given the scale and scope of investments necessary, it is also important to suitably incorporate environmental dimensions of the investments early on using a regional framework. This is consistent with the increasing and repeated emphasis of member countries on the need to address environment and climate change as part of the new GMS SF, and to emphasize green development approaches. The regional investment framework can also serve as the launch pad for discussing higher-level cooperation in the GMS program in its third decade, including increased regional cross-border investments. A comprehensive regional planning approach would be a substantial exercise comprising seven steps, namely: (i) diagnosis, (ii) macro-framework building, (iii) sectoral planning, (iv) intersectoral coordination, (v) plan finalization, (vi) action program formulation and (vii) planning for implementation. To enhance its manageability while also promoting flexibility, it is proposed to undertake this task in two phases, with the first phase focusing on thorough diagnostics, analytical studies, and formulation of a macro framework along with initial elements of sectoral planning, including needed institutional elements.
Progress (as of March 2021)
Project closedContacts
| Contact 1 | |
| Contact Name | Nguyen, Cuong Minh |
|---|---|
| Organization | Asian Development Bank |
| cuongnguyen@adb.org | |
| Contact 2 | |
| Contact Name | - |
| Organization | - |
| - | |
