East Asia’s economy is entering a new phase of uncertainties and challenges stemming from complex geopolitics, a weakened European Union (EU) after Brexit, domestic political unpredictability in the US and an economic slowdown in China.
To maintain economic dynamics, regional countries need to deepen and speed up social, economic and financial reforms. The region needs to continue promoting an open and inclusive regionalism.
At a meeting in Laos on Wednesday, the two sides agreed the route layout and related issues for the 760-kilometer expressway connecting the capitals of the two countries, according to Vietnam’s Ministry of Transport.
The agreement was reached based on results of a pre-feasibility study conducted by Vietnam’s Transportation Design Consultancy Corporation (Tedi).
The expressway is planned to start from Vientiane, passing through Laos’ Pakxan and Nghe An Province’s Thanh Thuy, and end in Hanoi.
Japan recently announced a three-year, $7 billion investment deal to improve the infrastructure of the lower Mekong River region. This deal is a move to offset China’s growing economic influence within the region. Furthermore, because of geopolitical reasons, it will be beneficial to Japanese investors who may be dissuaded from other regions, such as Russia.
China’s pattern of regional conduct has come increasingly into focus in recent times. Its behaviour is much less about maintaining the ‘status quo’, and much more about revising the established dynamics and contours in the region to its preferences. This revisionism is likely to become the primary source of tensions and potential conflict in Southeast Asia.
A view of the dam at the Jinghong Hydropower Station on the Lancang River, the Chinese section of the Mekong River, in Jinghong city, Yunnan province, 20 May 2013. (Photo: AAP).
Nowhere are China’s revisionist aims more evident than in the South China Sea and the upper reaches of the Mekong River, which straddles southern China, Myanmar, Thailand, Laos, Cambodia and Vietnam.
Laos kicks off its Asean chairmanship Friday with an agenda-setting foreign ministers’ retreat in Vientiane, its capital on the east bank of the Mekong River.
Analysts say this year could be a coming of age for the “lower-middle income economy”, where poverty continues to be widespread, but which is one of the fastest-growing economies in the region.
Laos last chaired Asean in 2004. Its economy grew by an average of 7 per cent annually in recent years, mostly on the back of its natural resources, a construction boom in Vientiane and rising tourism.
Mekong countries’ chronic shortage of electricity which threatens to stymie economic growth, could be eased by pushing for acceleration of plans by the Association of Southeast Asian Nations (Asean) for a regional power grid. However, damming the Mekong River can causes widespread controversy in South East Asia. Lower Sesan 2 dam on Mekong river in Cambodia is a typical example.
FOLLOWING THE launch of its ambitious Silk Road Economic Belt and 21st Century Maritime Silk Road (Belt and Road) initiative in a big way, China followed it up with last month’s official inauguration of the Asian Infrastructure Investment Bank (AIIB), which is now operational.
Government officials and civil society representatives from across the Mekong region have agreed to establish a working group to develop a regional public participation guideline for Environmental Impact Assessment (EIA) recently in Hanoi, Vietnam.
The Lao government is focusing on the promotion of sustainable agricultural systems for food security in Asean when the country integrates with the Asean Economic Community (AEC) at the end of this year.
The Agriculture Department of the Ministry of Agriculture and Forestry, in cooperation with Deutsche Gesellschaftfür Internationale Zusammenarbeit (GIZ) GmbH is hosting the 6th project partner meeting of the German Regional Cooperation project’s Asean sustainable agrifood systems (Asean SAS) initiative, which is being implemented by GIZ.
MPE, Prachatai In a ground-breaking agreement, government officials and civil society representatives from across the Mekong region established a working group to develop a regional public participation guideline for Environmental Impact Assessment (EIA) this week in Hanoi, Vietnam. The Mekong Regional Technical Working Group for EIA brings together governments, civil society organizations (CSOs), and will […]
