A Vietnamese government official said on Nov 30 that Greater Mekong Sub-region (GMS) countries should strengthen their cooperation to overcome the consequences of the financial crisis and climate change and to boost sub-regional economic development.

Addressing a conference titled “Overcoming Crisis-Moving towards a more dynamic GMS”, Minister of Planning and Investment Vo Hong Phuc said the sub-region’s economy has seen positive signs, however, unsustainable. That’s why GMS countries have to be cautious.

To increase understanding and introduce cooperation between GMS countries, participants at the conference discussed measures to boost cooperation for development in the region.

According to delegates, the GMS has made achievements in regional cooperation. In addition, support to GMS projects from regional and international donors helped create an investment cooperation prospect in the sub-region.

The GMS also discussed receiving more assistance from international donors to remove the obstacles caused by the economic crisis.

Ayumi Konishi, Country Director of the Asian Development Bank in Vietnam said the bank has financed 41 projects worth 11 billion USD and 179 technical assistance projects at a cost of 208 million USD for the sub-region.

Meanwhile, Japan will provide 5.5 billion USD in official development assistance (ODA) to GMS in the next three years, according to Japanese Ambassador to Vietnam Sakaba Mitsuo.

In the future, the sub-region will focus on improving living conditions of people in the area, especially the poor by increasing the effectiveness of land and water resource use and developing hydroelectric power.

The sub-region will also improve fishing, raise the effectiveness of waterways, limit the adverse impacts of flood and draught’s consequences to people’s lives and strengthen environmental protection./.