Developing new generation economic corridors in the Greater Mekong Subregion

The Ministry of Foreign Affairs said that on the morning of November 7, the 8th GMS Conference solemnly opened at the Hai Cang Conference Center (Kunming City, Yunnan Province, China).

At the conference, Prime Minister Pham Minh Chinh made important speeches, emphasizing five valuable lessons from the success of the GMS: First, the lesson of implementing equal and broad consultations, strengthening consensus among members for the common benefit; Second, the lesson of building substantive cooperation strategies and programs, linked to the practical needs of each country and sub-region; Third, the lesson of people- and community-centered cooperation; promoting economic connectivity associated with environmental protection; Fourth, the lesson of combining the efforts of each member with the companionship of ADB and development partners; Fifth, the lesson of turning difficulties into motivation to rise up, the more difficulties, the more efforts, determination, and solidarity to create strength to promote cooperation and development.

The Prime Minister emphasized that in its movement and development, the GMS must continuously innovate and create, both to grasp the general trend of the world and to serve the specific development needs of the sub-region. With that mindset, the Prime Minister said that it is time for the GMS to focus on developing new-generation economic corridors, with innovation at the center, going beyond the limits of traditional economic corridors.

On that basis, the Prime Minister proposed three main contents of the new generation economic corridor including:

First, the technology and innovation corridor, aiming at multi-subject, multi-sector, multi-stage connectivity. The focus is on supporting countries to overcome shortcomings in institutions, policies, and capacity in technology, innovation, and resources, including human resources and financial resources.

Second, the economic growth corridor, both renewing traditional growth drivers and promoting new growth drivers. Along with transport infrastructure projects, industrial production, agriculture, GMS needs to expand investment in semiconductors, artificial intelligence, new materials and clean energy; build digital platforms, expand digital markets, improve digital skills of businesses and workers. It is necessary to create substantive and effective changes in facilitating the flow of capital, goods and services in the GMS region.

Third, a green, sustainable and inclusive corridor, ensuring harmony between economic growth and environmental protection, taking people as the center, the subject, the driving force, the resource and the goal of development.The GMS needs to further promote cooperation programs on environment and ecosystems, disaster management, and climate change response.The GMS also needs to attach special importance to cooperation with the Mekong River Commission in managing and using the common Mekong - Lancang River effectively, sustainably, fairly and reasonably and cooperating in applying technology to the integrated management of transboundary water resources.
The Prime Minister affirmed that Vietnam will continue to cooperate closely with member countries and development partners to jointly build an innovative, creative, dynamic, sustainable and prosperous Greater Mekong sub-region.

Also on November 7, on the occasion of attending the 8th GMS Summit, Prime Minister Pham Minh Chinh held talks with Chinese Premier Li Qiang. The two Prime Ministers expressed their delight at the positive development and substantive progress in the friendly and mutually beneficial cooperation between Vietnam and China.