Greater Mekong Subregion

Boosting GMS Business

By Judy Bryant
Consultant Writer

The private sector is becoming an increasingly important partner in providing the growing intellectual support and financial resources required to develop the Greater Mekong Subregion (GMS).

Enhancing Private Sector Participation and Competitiveness is one of the 11 GMS flagship programs—and the GMS Economic Cooperation Program (GMS Program) strives to consult and involve the private sector as a standard practice.

The GMS Business Forum (GMS-BF) was established in October 2000 under the framework of the GMS Program, with assistance from the Asian Development Bank (ADB) and the United Nations Economic and Social Commission for Asia and the Pacific, to promote trade and investment within and among the six countries of the GMS.

The Board of Directors of the GMS Business Forum has agreed on the following basic principles of the GMS-BF:

1. foster GMS cooperation
2. add value to national chamber of commerce and industry (CCI) programs
3. strengthen ties with national CCIs
4. address gaps in trade and investment facilitation services
5. offer services on a cost-recovery basis; (vi) build intra- and interregional partnerships
6. achieve GMS development program consensus
7. document activities and decision-making

Based in Vientiane, Lao People’s Democratic Republic, the GMS-BF comprises the national chambers of commerce of the six GMS countries. Membership is open to businesses of all kinds; international, national, professional, and sectoral associations; business and employers’ federations; and chambers of commerce and industry. The GMSBF opened a satellite office in Bangkok with another planned in Kunming.

In December 2002, the GMS-BF launched a virtual GMS Business Support Center at www.gmsbizforum.com to disseminate information on the forum’s activities and to support the development of business activities in the GMS.

In 2004, the GMS-BF was further strengthened by establishing a corporate governance framework and formulating a business plan based on the delivery of six value-added, fee-based services.

The 13th GMS Ministerial Meeting in Vientiane in December 2004 produced a GMS Program Plan of Action. This included improving the information architecture for facilitating investment in the GMS by posting a GMS investment template on the GMS-BF website to be available by the end of June 2005. This will provide a cross-reference of all major investment laws and regulations in the GMS.

In disseminating a range of relevant and timely business services to investors about GMS activities, the GMS-BF plays an important role in promoting awareness of trade and investment opportunities in the GMS.

In addition and complementary to the regular activities of the GMS-BF, the GMS Program has organized major events to step up and deepen the dialogue with the private sector. For instance, interaction between GMS governments and the private sector has been intensified through the High- Level Public-Private Sector Consultation Meeting held in Bangkok in September 2004, where the private sector raised key concerns and proposals for further improvements in the business environment.

Knowing the key role of the private sector in the overall success and sustainability of the GMS Program, the countries will continue step-up measures to create a more favorable climate for the private sector, enabling it to take advantage of the opportunities arising from increased connectivity and greater economic integration in the subregion.

Judy Bryant is a consultant with the Department of External Relations.

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