World Bank discusses collaboration plans for Mekong

The WB is also ready to provide assistance in other areas, upon discussion with GMS governments and the ADB, who has supported the GMS regional cooperation programme since 1992.

Support to trade and transport facilitation and analytical work on labour migration in the GMS region have already been worked on during the initial stages of several programmes.

The proposed cooperation strategy aims to support win-win solutions across the region for higher economic growth and faster poverty reduction; and to achieve sustainable management of regional resources, according to the WB representative.

At the GSM Strategy Consultation meeting organised in Ha Noi, representatives of the WB, the ADB and the Ministry of Planning and Investment received feedback and comments to contribute to the strategy. This feedback includes discussion of the role of civil society, the complexity of trans-border activities, inequality among programme beneficiaries, especially ethnic minority groups, inefficient customs procedures, dangers to forestry resources and the need to boost cooperation in other fields.

GMS, comprising of Cambodia, Lao, Myanmar, Thailand, Viet Nam and Guangxi and Yunnan Provinces of China, is geographically located among the fast-growing economies of both South and East Asia, where the opportunities for further strengthening cooperation and integration are plentiful. Regional initiatives are being carried out by countries in the GMS, who are increasingly looking to maximise development benefits through enhanced cooperation with their neighbours, according to the WB's reports.

But hurdles to better cooperation are complicated. Institutions and available information are not strong enough to enable each country to assess fully the benefits and risks to the trade-offs that stronger regional cooperation may bring. Additional critical bottlenecks to achieving these benefits-- infrastructure, appropriate regulatory environments, the level and distribution of skills, and the levels of trust among countries and among partners-- need to be addressed, according to the WB. 

By Business Desk

Viet Nam News