Private sector development a focus of GMS

Plans for developing the private sector in the Greater Mekong Subregion (GMS) will be among priorities of the GMS Business Council (GMS BC) from 2018 to 2020, heard a panel discussion in the framework of the GMS Business Summit in Hanoi on March 30.
Private sector development a focus of GMS ảnh 1Delegates pose for a photo at the event (Photo: VNA)

Hanoi (VNA)
- Plans for developingthe private sector in the Greater Mekong Subregion (GMS) will be amongpriorities of the GMS Business Council (GMS BC) from 2018 to 2020, heard apanel discussion in the framework of the GMS Business Summit in Hanoi on March30.

Phan Vinh Quang, Deputy Director of the MekongBusiness Initiative (MBI) affirmed that the GMS BC has developed many ideas andvisions to support the regional private sector, suggesting more programmes,projects and resources be provided to increase the sector’s participation inthe regional development.

He suggested the GMS BC implement moreactivities, including staff training in business operation skills to supportthe private sector, particularly micro-, super micro, and women-runenterprises.

Dr. Sombat Thiratrakoolchai, Vice Chairman ofthe Thailand’s CP Foods PCL, said his company has made investment in all GMSnations. He underlined the significance for the GMS and regional enterprises towork together as one for the sake of community.

The CP Foods PCL creates jobs with equalsalary, benefits, training and promotion opportunities for all employees nomatter where they come from, he said, adding that the company also cares aboutthe environment.

The winner of the Startups of the MekongAgriTech Challenge (MATCh) highlighted the opportunities and challenges tostartups to reach out for finance and technical assistance in the highlycompetitive market, not only in a certain country, but also in the whole region.

She also stressed the need for development oftechnology solutions for SMEs and MSMEs access to finance and regional valuechain.

WillTaing, Director of the Australia-based Beanstalkagtech Technology Company, saidhis company has provided agricultural technology solutions to many clients inthe Mekong region.

TheGMS Business Summit gives his company in particular and other internationalfirms to connect with potential GMS partners, particularly Vietnamese ones, hesaid.

LanVy Nguyen, CEO of the VKStar Ltd., Company, organiser of Ao Dai (long dress) shows,highlighted the similarities in cultural values among people in the GMSnations. She hoped that the GMS mechanism in general and the GMS Business Summit will connect her company withpotential markets, thus introducing the Vietnamese traditional culture to theregional countries.

The GMS Business Summit,a highlight of the sixth Greater Mekong Sub-region Summit (GMS-6), aims tostrengthen dialogues between enterprises and governments and connect businessesin the region and the world, while encouraging resources from the privatesector for the GMS Programme.

The GMS cooperation waslaunched in 1992 as an initiative of the ADB. The GMS Economic CooperationProgramme is the most complete cooperation programme that involves Vietnam,Laos, Cambodia, Thailand, Myanmar, and China’s Yunnan and Guangxi provinces.

The programme prioritises infrastructure development, energy,telecommunications, tourism, trade-investment, human resources, and theenvironment.-VNA
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