Prime Minister Nguyen Xuan Phuc has highlighted the significance of the closer cooperation between the five nations in the Mekong sub-region in order to spur socio-economic development towards building a competitive, dynamic and sustainable economy.

Prime Minister Nguyen Xuan Phuc speaks at the 9th Ayeyawady-Chao Phraya-Mekong
Economic Cooperation Strategy (ACMECS) Summit

In his speech delivered at the 9th Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) Summit held virtually on December 9, the Vietnamese cabinet leader put forth a number of orientations to improve ACMECS’ operational efficiency, while calling for greater efforts to overcome the COVID-19 pandemic by gradually boosting economic recovery and enhancing ACMECS’ role in connecting the Indian and Pacific Oceans.

To reach the goal, it is imperative to ensure harmonious connectivity in the sub-region, intensify transport, trade and investment along economic corridors, and develop a transport infrastructure along the borders, Phuc said.

He suggested the five countries should properly implement signed bilateral and multilateral agreements and take heed to smart and sustainable agricultural development, for the establishment of the Mekong agricultural value chain and deeper integration into the global supply chain.

Additionally, there should be fruitful cooperation in environmental protection, sustainable management of natural resources and natural disaster and climate change adaptation, the Vietnamese Government leader added.

Running with the theme of “Partnership for Connectivity and Resilience”, the event reviewed the implementation of the Bangkok Declaration and the 2019-2023 ACMECS Master Plan adopted during the 8th ACMECS Summit held in June 2018 in Thailand.

With regard to cooperation in the past two years, the leaders applauded positive outcomes achieved in the implementation of the ACMECS Master Plan with a focus on the three pillars of hard and soft infrastructure connectivity, and smart and sustainable development.

They also praised member countries' efforts in devising guiding documents such as the Terms of Reference of the ACMECS Development Fund, Concept Paper on Working Mechanism for ACMECS Coordinating Committees and List of ACMECS Prioritised Projects.

Regarding future cooperation, they affirmed the determination to step up cooperation in environmental protection, smart agriculture development and sustainable management of the waters of Mekong River, disaster management and climate change.

The leaders also pledged sustained efforts to combat COVID-19, recover their economies, and facilitate the implementation of the three pillars of the ACMECS Master Plan with the purpose of putting the ACMECS Development Fund into operation.

Concluding the meeting, they approved the Phnom Penh Declaration of the 9th ACMECS Summit and agreed that Laos will be the host of the next summit.