Thailand
Lancang-Mekong growth engine plan
Prime Minister Hun Sen yesterday urged the Lancang-Mekong Cooperation (LMC) leaders to speed up the realisation of the Mekong-Lancang Economic Development Belt (ML-EDB) as a new engine of growth for the Mekong-Lancang sub-region.
The LMC, initiated by China in 2014, consists of six countries, namely China, Cambodia, Myanmar, Laos, Thailand and Vietnam.
Five Mekong River countries (excluding China) are home to 230 million people and boast a combined gross domestic product (GDP) of more $600 billion and an average annual growth rate of nearly 7 percent. Linked by mountains and rivers, the six LMC countries in total feature cultural similarities and enjoy profound traditional good relations and friendship and share closely inter-connected security and development interests.
Speaking at the third Mekong-Lancang Cooperation Leaders’ Meeting via video conference, Mr Hun Sen said at a time of global growth de-acceleration, securing new sources of growth in the sub-region is a must. Therefore, all leaders need to speed up the realisation of the ML-EDB as a new engine of growth for the Mekong-Lancang sub-region.
He said that boosting investment in quality infrastructure, connectivity and industrial cooperation will stimulate more cross-border trade and further strengthen the integration of sub-regional supply chains into global value chains.
At the same time, he said the promotion of science, technology and innovation cooperation can enhance the long-term competitiveness of the sub-region.
“Since the launch of the MLC Special Fund in 2016, Cambodia has received 55 projects covering a broad range of practical cooperation activities, which we believe have produced tangible results and contributed significantly to improving the wellbeing of our people,” Mr Hun Sen said. “On the COVID-19 pandemic, which is the hottest topic for 2020, we need to show our solidarity and mutual trust in combating this common enemy to make sure that it does not devastate our respective national public health and economy, especially the prosperity of our region,” he added.
He said that in this context, promoting deeper regional integration and an effective multilateralism are two key priorities of common action. Furthermore, Cambodia highly appreciates China’s efforts in seeking vaccines and its commitment to ensure their accessibility and affordability for developing countries.
China’s Premier Li Keqiang said the Lancang-Mekong River will continue to benefit the people who live along it. He said that water is the source of life and a source of development.
“We have a vision along the river of promoting economic development. Therefore, in the third meeting of LMC, development is a major topic. In particular, we need to focus on how to make trade links despite COVID-19, to realise economic recovery and growth and maintain sustainable economic development,” he said.
Mey Kalyan, senior adviser to the Supreme National Economic Council of Cambodia, told Khmer Times that China is good at infrastructure and that infrastructure is good for Cambodia and the region. He added that when China comes in, many countries may find it easy to join but that without China, projects will take a long time to materialise or may never happen.
“Of course, it is beneficial for the regional economy,” Kalyan added. He said that the third Lancang-Mekong Cooperation leaders meeting this time is extremely crucial and timely.
“[It is] crucial in the sense that leaders are required to think hard and put their wisdom together quickly, after having seen the existential impact of COVID and the urgent need to find timely solutions to survive and prosper together,” he said.
Kalyan added that it is heartbreaking to learn that China is facing serious flooding problems now that are destroying many people’s lives and huge amounts of property. He noted China’s President Xi Zinping has rightly requested his administration to
pay attention first to people, their lives and their property. And it is heart-warming to see such a policy has been advanced by China.
He said that COVID-19 as well as flood or drought, are all disasters that are threatening people’s existences. They all teach us to think of the fundamentals of human beings and human lives. Clearly, when lives are being threatened, no prosperity can be achieved. Before COVID, we tended to think mainly about prosperity.
He added it is urgently needed to preserve this river in a more sustainable manner and formulate an integrated river basin strategy as one entity as soon as possible and make follow-up together with member countries.
“Water is fundamental for people and lives in the region, in particular poor people. So let’s tackle this root issue – water management – first, because everything else depends on water. And let’s survive and prosper together in this only one Lancang-Mekong region,” Kalyan added.
The Lancang River originates on the Qinghai-Tibet Plateau
in China. It is called the Mekong River as it flows through Myanmar, Laos, Thailand, Cambodia and Vietnam before emptying into the sea.
Source: https://www.khmertimeskh.com/50756471/lancang-mekong-growth-engine-plan/