The East-West Economic Corridor (EWEC) linking Myanmar, Laos, Thailand and Vietnam becomes the major attraction to investors from the Kansai region of Japan as Japanese investors are seeking to expand investment there. The corridor was highlighted in the fifth Viet Nam-Japan Economic Forum that was organized on 22 November in Da Nang by the Ministry of Planning and Investment in cooperation with the Kansai Economic Federation (Kankeiren) and the Japan External Trade Organization (JETRO). The main focus of the forum was placed on the potentials and opportunities for cooperation between the two countries in the development of local infrastructure and the EWEC. The event is part of the annual economic cooperation program between Viet Nam and Japan's Kansai. Dang Huy Dong, Deputy Minister of Planning and Investment, attributed the strong development in the economic relationship between Vietnam and Japan to the local demand for investment attraction and industrialization promotion as … [Read more...] about East-West Economic Corridor attractive to Japanese investors
East west economic corridor
The concept was first introduced at the eighth ministerial conference of the Greater Mekong River Subregion in Manila in October 1998. Five corridors were discussed. Of these, the East-West Economic Corridor (EWEC) was given major priority. To thoroughly understand the economic corridor, it is necessary to have a basic knowledge of regional cooperative structures. There is official and unofficial economic cooperation. The official includes the Free Trade Area (FTA), Tax Alliance (similar to Russia-Belarus Coalition) and Common Market (EU). Unofficial structures are the Development Triangle, Trans-national Free Area and Economic Corridor, which are only between regions or localities of various countries, not for the whole country. Members maintain commercial and investment relations with external markets. They have no common policies but have tariff and non-tariff measures to facilitate free trade, investment, transport and people movement and to speed up the development of border … [Read more...] about East-West Economic Corridor
Flagship Objectives The objectives of the East-West Economic Corridor flagship initiative are: (i) to further strengthen economic cooperation and facilitate trade, investment, and development between and among Lao PDR, Myanmar, Thailand and Viet Nam; (ii) to reduce transport costs in the project influence area, and make the movement of goods and passengers more efficient; and (iii) to reduce poverty, support development of rural and border areas, increase the earnings of low-income groups, provide employment opportunities for women, and promote tourism. The EWEC is also expected to provide focused support for development opportunities, including in agro-industry and tourism. The flagship initiative for the East-West Economic Corridor (EWEC) directly supports three of the five strategic thrusts of the Greater Mekong subregion (GMS) Strategic Framework: (i) strengthening connectivity through a multisectoral approach, (ii) facilitating cross-border trade and investment, and (iii) … [Read more...] about Why East-West Economic Corridor?
A conference on Economic and Tourism Development along the East-West Economic Corridor was held in Dong Ha Town in Quang Tri Province on July 28, as part of the activities in the 'Trans-Asia Bridge Span Festival'. The conference featured nearly 20 reports on the diversified cultures, historical sites and tourism potential along the East-West Economic Corridor, by scientists, economists, experts, local and foreign travel companies. The 1,450km East-West Economic Corridor runs through Thailand, Myanmar, Laos and Vietnam; entering Vietnam via the Lao Bao International Border Gate in Quang Tri Province and passing through Dong Ha Town, Thua Thien-Hue Province, Hai Van Tunnel and Da Nang City. The East-West Economic Corridor has brought benefits and opportunities in various fields to countries that it runs through. The member countries should create advantages, reduce administrative formalities and fees, and apply advanced tech systems to electronically control border gates, to … [Read more...] about Conference to promote East-West Economic Corridor
(VOV) - Economic and tourism cooperation was the main theme of an international seminar on East-West Economic Corridor (EWEC) held in the central province of Quang Tri on July 28. Regional conference promotes EWEC cooperation Vietnam, Laos, Thailand strengthen drug control cooperation The event was attended by leaders of ministries, agencies and localities from Vietnam, Laos, Thailand and Myanmar, as well as scientists, businesses and travel agencies from Vietnam and abroad. Delegates highlighted the potential for cooperation among EWEC member countries and worked out measures to boost economic and trade ties in the region, with a focus on attracting investment and developing human resources. Chairman of the Quang Tri provincial People's Committee, Nguyen Duc Cuong, said EWEC cooperation has strengthened in recent years, especially since the Huu Nghi (Friendship) border gate was inaugurated in 2006, connecting Vietnam's Quang Tri province to Savanakhet in Laos and Mucdahan in … [Read more...] about Promoting East-West Economic Corridor