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USD 66 billion investment plan laid by Mekong countries' leaders

 During the summit in Vietnam, this plan was adopted. The summit included Cambodian, Laos, Thailand and Vietnam prime ministers, Chinese foreign minister and vice president of Myanmar.


USD 66 billion investment plan laid by Mekong countries' leaders
Asian Development Bank will fund USD 7 billion and the rest of the investment will come from private and government sector. (Image credit: Pixabay)  

The six-country leaders along the Mekong River come together with an ambitious plan of USD 66 billion investment over next five years.

Asian Development Bank will fund USD 7 billion and the rest of the investment will come from private and government sector.

During the summit in Vietnam, this plan was adopted. The summit included Cambodian, Laos, Thailand and Vietnam prime ministers, Chinese foreign minister and vice president of Myanmar.

In 1992, ADB initiated the Greater Mekong Sub-regional (GMS) economic cooperation program. Since then it has mobilized USD 21 billion with major investment going for the infrastructure projects.

In the opening remarks, the Prime Minister of Vietnam has echoed that "GMS is starting a new era of development with unprecedented opportunities and challenges which require us to have a creative approach with long-term and comprehensive vision in order to tap into the internal power of each country while effectively promoting connectivity to create strength resonance across the GMS for rapid economic growth and harmonizing economic and social development with environmental protection,"

The five countries along with China's Yunnan province and the Guangxi Zhuang have recorded one of the world fastest growing economies.

Phuc said during the closure of one day summit that the driving force for the region;s development would be cooperation.


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