The government is seeking to develop ways of increasing the benefit felt by Cambodia from economic corridors opened throughout the Greater Mekong Subregion as part of Asean integration, an official has said.
Sok Chenda Sophea, secretary general of the Council for the Development of Cambodia, told reporters after a meeting of ministers from countries in the region held on Thursday that the government had developed a strategy to remain competitive.
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.
The investors behind Myanmar’s first special economic zone will start accepting proposals for factories in second zone known as “Zone B” at the end of the rainy season, as both phases of “Zone A” near completion, with US$760 million in foreign investment committed to the project so far.
Myanmar Thilawa SEZ Holdings chair U Win Aung told The Myanmar Timesthat the first zone, covering 400 hectares, is almost finished. Seventy-three foreign investors from 16 countries have agreed to invest in the project, which is located in Thanlyin township, around 25 kilometres (16 miles) south of Yangon.
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.
A decade long mining boom, combined with a rapid development of hydropower, has seen Laos’ growth rate reach over 7 percent a year, allowing national output to more than double, generating some half a million jobs.
A key player in the economic progress has been China. A recent World Bank report on the Lao economy noted China’s influence was continuing to grow.
EuroCham vice chairman Tomaso Andreatta said Vietnam should gradually stop the construction of coal-fired power plants as they were dramatically increasing the country’s greenhouse gas emissions (GHGs) and causing environmental pollution.
“Mny nations have stopped using coal for operating their power plants because of concerns over the environmental risks. Vietnam should follow suit,” Andreatta told Vietnam’s government at an international conference on clean energy in Asia in early July 2016.
Representatives from 57 countries, journalists, industry experts and civil society leaders gathered in Beijing on 25-26 June for the first annual meeting of the Asia Infrastructure Investment Bank (AIIB).
This was the bank’s first weigh-in, where its first six months of progress since launching in January would be judged by stakeholders and engaged parties. Of keen interest to many were the AIIB’s green credentials.
A group of farmers in Rakhine State’s Kyaukphyu township are hoping for negotiations with the Southeast Asia Gas Pipeline (SEAGP) company, after being told by local authorities not to sue the firm over damage to farmland.
The Industrial Estate Authority of Thailand (IEAT) says it sold 1,750 rai of developed land in the first half and expects better sales in the second half, crediting the government’s policy to support special economic zones (SEZs).
First-half sales were well above the target of 1,500 rai, said IEAT governor Verapong Chaiperm.
IFC and Armstrong, with a combined stake of 36 percent, will take a 16 and 20 percent equity stake in GEC, respectively. For both it is their first investment in Vietnam’s power sector. The investment will help the company expand its hydropower portfolio and invest in other renewable energy segments, such as wind and solar power.
Based in the Central Highland province of Pleiku, GEC joined the Thanh Thanh Cong Group in 2013. With charter capital of 715 billion VND (34 million USD), GEC was one of the largest private sector hydropower players in Vietnam, with 84.4 MW of installed capacity across 15 run-of-the-river small-scale hydro power plants.
