GMS in the News

In a significant move to enhance their cultural and tourism cooperation, Viet Nam and Laos held a series of discussions this week to solidify their partnership. 

On 9 January, Laos and Viet Nam officially launched a cross-currency transaction service, connecting their cross-border retail payment systems via QR codes.

The Lao People’s Democratic Republic’s reliance on debt financing for the power sector has led to significant economic growth but also severe debt distress. Reforms should focus on improving sector governance, enhancing financial sustainability, and fostering clean energy access.

The Lao People’s Democratic Republic (Lao PDR) can improve health and food security by strengthening agricultural value chains, supporting rural areas, and scaling up nutrition-centered food systems, according to a new Asian Development Bank (ADB) report.

The Asian Development Bank (ADB) has approved a financing package of $24.9 million, inclusive of a $4.95 million Asian Development Fund grant, to help improve access to quality health services in the border provinces of Champasak, Phongsali, and Savannakhet of the Lao People’s Democratic Republic (Lao PDR).  

From 2015 to 2020, ADB pioneered a regional technical assistance project, funded by the Nordic Development Fund, to help countries in the Greater Mekong Subregion better understand the link between climate change and human health and explore ways to enhance health system capacities to respond to climate-induced health threats.

The construction of the fifth Lao-Thai Friendship Bridge, an infrastructure project connecting the Lao People’s Democratic Republic (Lao PDR) and Thailand, is on schedule to be completed by the end of 2024. This bridge spans the Mekong River, linking Bolikhamxay province in Lao PDR with Bueng Kan province in Thailand. The project is a testament to the ongoing cooperation between the two nations and is expected to enhance travel and trade within the Greater Mekong Subregion (GMS).

The GMs Energy Transition Task Force (ETTF) met in Siem Reap on 4-5 December 2023 to discuss updates and plans related to its work streams, including trends, opportunities and related initiatives in the region.

The meeting agreed on these next steps for 2024.