Move for sustainable development in GMS

“The GMS Economic Cooperation Programme’s work to improve transport infrastructure, expand energy access and promote sustainable and inclusive development has paid enormous dividends for the sub-region and its people,” Stephen Groff, vice president of the Asian Development Bank, said yesterday.
“Moving forward, the GMS will need to leverage greater resources, particularly private sector funds, to successfully execute its ambitious development agenda.”
At the conference, ministers called for accelerated efforts to implement seamless cross-border transport and trade in the sub-region, which along with improvements in power and telecommunications, are key building blocks for the realisation of the Asean Economic Community.
Since its inception in 1992, the GMS Programme has invested $17 billion in projects covering sub-regional roads and transport links, cross-border energy, tourism infrastructure and communicable disease prevention.
The ministers’ remarks on the need for more infrastructure funding follow a recent agreement adopted by five Mekong nations and Japan to boost industrialisation in the sub-region.
The agreement details policies needed to improve cross-border trade and develop special economic zones in border areas.
The ministers also endorsed a new framework for urban development in the GMS, with greater emphasis on green development, which complements the aims of the pending Sustainable Development Goals.
The GMS comprises Cambodia, parts of southern China, Laos, Myanmar, Thailand and Vietnam.
The ADB, based in Manila, is dedicated to reducing poverty in the Asia-Pacific region through inclusive economic growth, environmentally sustainable growth and regional integration.
Established in 1966, it is owned by 67 members – 48 from the region. Last year, ADB assistance totalled $22.9 billion, including co-financing of $9.2 billion.