Bangkok (VNA) - Vietnam is firmly committed to cooperating with member countries, the Secretariat of the Greater Mekong Subregion (GMS), development partners, and the business community to advance cooperation activities within the GMS framework toward the region’s shared prosperity, especially as the country will assume the role of host of GMS cooperation activities in 2026.
Deputy Minister of Finance Tran Quoc Phuong made the statement while addressing the high-level government–business policy dialogue and the official session of the GMS Ministerial Conference held in Thailand on November 28. He briefed participants on Vietnam’s latest policies and orientations for socio-economic development, particularly in science, technology and innovation, and private-sector development, areas aligned with the conference theme.
The Deputy Minister also put forward specific policy recommendations aimed at enhancing the participation of local authorities and the private sector in the GMS’s overall development.
For local administrations, he proposed establishing a regular consultation mechanism between central and local governments; ensuring financing for local-level projects through domestic resource mobilisation and public–private partnerships; and strengthening capacity for local officials in areas such as development planning, project management, and resource mobilisation. He also recommended stronger decentralisation and greater promotion of direct cooperation among localities.
On private-sector development, the official recommended that the GMS establish or expand technical assistance programmes for small and medium-sized enterprises in areas such as digital transformation, technological innovation, market connectivity, and access to finance. He also suggested that the GMS serve as a bridge between the public and private sectors by establishing suitable PPP models to encourage greater private-sector participation in transport infrastructure, sustainable energy, trade and tourism promotion, and digital transformation. Such efforts will ease the financial burden on the public sector while creating investment opportunities for businesses across the region, he noted.
The 27th GMS Ministerial Conference took place on November 27–28 in Bangkok, Thailand. The conference reviewed and highly valued cooperation activities under the GMS framework to implement outcomes of the GMS Summit held in China in November 2024 across key sectors including transport, energy, trade and investment facilitation, agriculture, environment, health care, and urban development. Member countries and development partners also discussed ways to advance regional development projects, with a focus on mobilising financial resources. Outstanding regional issues, such as innovation, digitalisation, knowledge sharing, and enhancing the role and engagement of local governments and the private sector, were also highlighted.
On the sidelines of the event, the Vietnamese delegation held a meeting with ADB Vice President Scott Morris. The two sides discussed future cooperation priorities, particularly the implementation of ADB’s financial support for Vietnam’s development investment projects./.
