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Economic Corridors: GMS Regional Forum Held In Nay Pyi Taw

13 December 2018

Greater Mekong Sub-region 10th Economic Corridors Forum took place in Nay Pyi Taw on Thursday.

The forum was held under the GMS Economic Cooperation Program. The theme of the forum is “Extending Corridors for Inclusive Connectivity in the GMS”.

Union Minister for Investment and Foreign Economic Relations U Thaung Tun gave a welcome remark at the forum.

The meeting reviewed the specific initiatives to accelerate the economic development in the region.

Director, UN and IOs Section, Foreign Relations Department , Moh Moh Naing said “Over 190 member countries pledged to implement the SDG goals in 2015 UN General Assembly. In GMS countries, it focuses on economic growth of regional countries. It has Regional Investment Framework which is known as RIF. This framework has to be implemented from 2013 to 2022. The six member countries have to choose the investment projects that are going to be implemented under the framework. ADB made discussions with each member country for the project that will be implemented year by year.” 

The development projects in GMS countries have been carried out in the region with the support of Asian Development Bank (ADB) under the Country Operational Business Plan – COBP. 

Director, UN and IOs Section, Foreign Relations Department, Moh Moh Naing said “So far, we have received 66% funding for implementing RIF projects. It needs to raise fund for the remaining 34%. The members discussed to implement by public private partnership for the projects that cannot get funding. It also needs to have strong mechanism to implement under PPP system.”

The 11th GMS Economic Corridors Forum is set to be held in Cambodia.