Thailand is spending 100 billion baht ($3 billion) in infrastructure to strengthen its position as a transport and trade hub along the economic corridors of the Greater Mekong Subregion.
Thailand is embarking on several projects in its northeastern region to improve travel to the Lao People’s Democratic Republic (Lao PDR).
The Association of Southeast Asian Nations (ASEAN) have identified 19 priority infrastructure projects to enhance regional connectivity and mobilize investments. Fifteen of the projects are in the Greater Mekong Subregion.
The six countries of the Greater Mekong Subregion have agreed to extend the “early harvest” implementation of their Cross-Border Transport Facilitation Agreement (CBTA) for 2 years.
The Lao People’s Democratic Republic (Lao PDR) has made progress in transforming itself from a landlocked to a “land-linked” economy. However, high logistics costs affect its continued growth, particularly its trade competitiveness.
MANILA, PHILIPPINES (13 April 2018) — The Asian Development Bank’s Trade Finance Program and Orient Commercial Bank today signed a $10 million loan agreement to further support trade in Viet Nam.