21:39 (GMT +7) - Sunday 25/10/2020

Vietnam Today

PM & GMS leaders attend GMS Business Summit

Released at: 15:28, 31/03/2018

PM & GMS leaders attend GMS Business Summit

Photo: Ngoc Lan

Business Summit an initiative from Vietnam as host country of GMS6 Summit.

by Ngoc Lan

Prime Minister Nguyen Xuan Phuc and leaders of GMS member countries attended the first-ever GMS Business Summit on March 30.

The Business Summit is an initiative from Prime Minister Phuc as the host of the GMS6 Summit, to promote dialogue between businesses and the State and connect businesses in the region and the world.

He told the Summit that the Greater Mekong Subregion (GMS) is a vast area with a population of 340 million people from five countries - Cambodia, Laos, Myanmar, Thailand, and Vietnam - and Yunnan and Guangxi provinces in China. The GMS, he said, can be viewed as “one economy”, with total GDP exceeding $1.3 trillion.

“This shows that despite their small size and limited resources, if countries and development partners connect and cooperate closely with each other within the common GMS framework, they can give rise to a shared economic region and common market, together amplifying their combined strengths and opening up new opportunities for economic development,” the Prime Minister said.

He also pointed out that, located at the center of a dynamically-developing Asia, the GMS has potential and strength and can add to Asia’s panorama of development, becoming an important global growth driver in the 21st century. “A new vision for post-2022 GMS cooperation needs to be immediately developed to bring about an inter-connected, integrated, sustainable, prosperous, and harmonious GMS,” Prime Minister Phuc told the gathering.

Mr. Wang Yi, State Councilor and Foreign Miníter of the People’s Republic of China, praised Vietnam for its initiative in holding the GMS Business Summit. He also noted that China is the largest trading partner of GMS countries and China’s development will create new momentum for regional and global growth.

“China is also committed to opening up, facilitating and liberalizing trade and protecting intellectual property rights for foreign investors,” he added. “We will invest $750 billion abroad over the next five years and will be opening up to neighboring countries.”

Delegates at the Business Summit agreed on the strategic position of GMS countries in the overall development and prosperity of Asia in general and Southeast Asia in particular. Speeches noted the speed of development in the GMS. In the near future, it will be one of the fastest-growing regions in the world, with a remarkable growth rate of 6.1 per cent last year.

User comment (0)

Send comment