(VEN) – The Greater Mekong Sub-region (GMS) members consist of Cambodia, Laos, Myanmar, Thailand, Vietnam, China’s Yunnan Province and the Guangxi Zhuang Autonomous Region.
The members agreed to build a portfolio of projects with total investment capital of US$50 billion in a new Regional Investment Framework (RIF) agreement, including investment in non-traditional areas such as railway and multi-sector projects within the next decade.
Asian Development Bank Deputy Chairman Stephen Groff said that the new generation projects can help boost trade and investment cooperation between countries and stimulate growth and employment. Completing transport links, improving knowledge, completing infrastructure, developing skills and facilitating the exchange and management of public goods in the region remain a priority of the GMS program.
The RIF agreement was approved at the 19th Ministerial Conference of the GMS Economic Cooperation Program in Vientiane, Laos. An agreement consists of sub-regional technical assistance and investment projects. List of priority projects under construction totals over US$50 billion and is implemented within nine years until 2022. To meet demands on such a large capital, countries and partners will consider raising capital from the private sector./.