VCCI President Vu Tien Loc delivers opening remarks at the GMS Business Summit (Photo: VNA)Hanoi (VNA) –The first-ever Greater Mekong Subregion (GMS) Business Summit opened in Hanoion March 30 as part of the sixth GMS Summit (GMS-6) and the 10th Cambodia-Laos-Vietnam Development Triangle Summit (CLV-10).
As an initiative of host Vietnam, the event aims to strengthen dialoguesbetween enterprises and governments and connect businesses in the region andthe world, while encouraging resources from the private sector for the GMSProgramme.
It will serve as an opportunity for GMS leaders, head of international andregional organisations, representatives of development partners, businesssectors and academia to share their views on key development issues of the GMSregion and discuss ways to strengthen cooperation among different stakeholders.
Speaking at the event's GMS Business Council Open Session, Dr. Vu Tien Loc, Presidentof the Vietnam Chamber of Commerce and Industry (VCCI), said despite numerous achievements,the GMS remains the lowland of the development in comparison with ASEAN, Asia and the world, in termsof per capital GDP, infrastructure, technology, finance, and human resourcequality.
Withfavourable geo-political location, rich natural resources, and abundant, cheapand young human resources, as well as the extensive reform and integration amidthe fourth industrial revolution, the GMS can become the kitchen and the workshop ofthe world, he noted.
According to Loc, thebiggest challenges of the GMS economies remain in the quality of institutionsand business competitiveness to meet the international standards and to jointhe global supply chain.
He attached significanceto start-up spirit, saying that the driving force of the GMS economies must bestart-up, micro-, small- and medium-sized, and women-led enterprises.
Applauding the initiativeof the Cambodia Government on establishing a GMS young entrepreneurs business network, he said the VCCIalso proposes a women-led business network and GMS startup network.
He hoped that togetherwith initiatives, programmes, and projects to promote regional connectivity,trade and investment facilitation, human resources training, environmentprotection and sustainable development, the business community network willmultiply GMS efforts in international integration and development.
During the session, delegates introduced the private sector to the developmentvision for the GMS in its third decade and the private sector led programmes.
On the occasion, Sok Phiset, Vice Chairman of the GMS Business Council and Presidentof Cambodia Young Entrepreneurs Association, launched the GMS Business Connect(GBC) Application.
The GMS comprises of Cambodia, China (Yunnan and Guangxiprovinces), Laos, Myanmar, Thailand and Vietnam. In 1992, the six countriesentered into a programme of sub-regional economic cooperation, designed toenhance economic relations among the countries, as an initiative of the AsianDevelopment Bank (ADB). Priority fields include infrastructure development,energy, telecommunications, tourism, trade-investment, human resources, and theenvironment.
The GMS is expected to receive 66 billionUSD in investment to strengthen regional economic cooperation in the next fiveyears.
Since its inception, the GMS Programme has mobilised 21 billion USD for theregion.-VNA
As an initiative of host Vietnam, the event aims to strengthen dialoguesbetween enterprises and governments and connect businesses in the region andthe world, while encouraging resources from the private sector for the GMSProgramme.
It will serve as an opportunity for GMS leaders, head of international andregional organisations, representatives of development partners, businesssectors and academia to share their views on key development issues of the GMSregion and discuss ways to strengthen cooperation among different stakeholders.
Speaking at the event's GMS Business Council Open Session, Dr. Vu Tien Loc, Presidentof the Vietnam Chamber of Commerce and Industry (VCCI), said despite numerous achievements,the GMS remains the lowland of the development in comparison with ASEAN, Asia and the world, in termsof per capital GDP, infrastructure, technology, finance, and human resourcequality.
Withfavourable geo-political location, rich natural resources, and abundant, cheapand young human resources, as well as the extensive reform and integration amidthe fourth industrial revolution, the GMS can become the kitchen and the workshop ofthe world, he noted.
According to Loc, thebiggest challenges of the GMS economies remain in the quality of institutionsand business competitiveness to meet the international standards and to jointhe global supply chain.
He attached significanceto start-up spirit, saying that the driving force of the GMS economies must bestart-up, micro-, small- and medium-sized, and women-led enterprises.
Applauding the initiativeof the Cambodia Government on establishing a GMS young entrepreneurs business network, he said the VCCIalso proposes a women-led business network and GMS startup network.
He hoped that togetherwith initiatives, programmes, and projects to promote regional connectivity,trade and investment facilitation, human resources training, environmentprotection and sustainable development, the business community network willmultiply GMS efforts in international integration and development.
During the session, delegates introduced the private sector to the developmentvision for the GMS in its third decade and the private sector led programmes.
On the occasion, Sok Phiset, Vice Chairman of the GMS Business Council and Presidentof Cambodia Young Entrepreneurs Association, launched the GMS Business Connect(GBC) Application.
The GMS comprises of Cambodia, China (Yunnan and Guangxiprovinces), Laos, Myanmar, Thailand and Vietnam. In 1992, the six countriesentered into a programme of sub-regional economic cooperation, designed toenhance economic relations among the countries, as an initiative of the AsianDevelopment Bank (ADB). Priority fields include infrastructure development,energy, telecommunications, tourism, trade-investment, human resources, and theenvironment.
The GMS is expected to receive 66 billionUSD in investment to strengthen regional economic cooperation in the next fiveyears.
Since its inception, the GMS Programme has mobilised 21 billion USD for theregion.-VNA
VNA
