Thailand and ADB
In the Spotlight
The Greater Mekong Subregion has an opportunity to build on its success in promoting connectivity, economic competitiveness, and community through a new investment plan presented at the 5th GMS Leaders' Summit in Bangkok.
The growth outlook for developing Asia and the Pacific remains steady, even though momentum slowed in the second half of 2014, but the declining oil prices represent a golden opportunity for many beneficial reforms, ADB says in a new report.
A modern highway and bridge connecting three countries in the Greater Mekong Subregion are reviving an ancient trade route and bringing new life to local communities.
Ten years on from the Asian Tsunami of 2004, stronger and more resilient communities are enjoying the fruits of a reconstruction effort that also served as invaluable experience in the aftermath of other natural calamities.
Thailand recently crossed into upper middle-income status, with the aspiration of progressing to a higher-income status. Economic growth, however, has been slower and more variable since the late 1990s due to global economic shocks, natural disasters, sociopolitical tensions, and relatively low investment.
With its position and size as the second largest economy in the Association of Southeast Asian Nations (ASEAN) and the Greater Mekong Subregion (GMS), Thailand can play a significant role in promoting regional cooperation and integration.
ADB support will respond to the government’s particular interest in ADB expertise to help catalyze knowledge, leverage private sector finance, and promote regional cooperation and integration.
64.62(2013) Population in millions
0.4%(2008-2013) Average annual population growth rate
13.2%(2011) Population living below the national poverty line