8 November, 2024
Since ACMECS members are developing countries facing challenges in achieving regional development, a funding mechanism to implement regional development projects and programs is needed. General Min Aung Hlaing, chairman of the State Planning and Administration Council (SAC), stated today that China is involved. He made these remarks while delivering a speech at the 10th Ayeyarwady-Kyaw Phraya-Mekong Economic Cooperation Strategy (ACMECS) summit held in Kunming.
Our collaboration also examines the weaknesses and challenges in reaching the anticipated level of development. The SAC chairman stated that since most ACMECS members are developing countries, there are obstacles to achieving regional development through a single approach.
The SAC chairman stated that executing the regional development projects and programs outlined in the ACMECS Master Plan requires innovative strategies and an effective funding mechanism.
It recognizes Thailand’s innovative initiative to establish the ACMECS funding mechanism and create linkages with development partners to pursue potential funding and technical assistance. The SAC chairman stated that ACMECS member countries aim to prioritize the establishment of the ACMECS Development Fund (ACMDF) to enhance their development activities.
Recently, ACMECS countries faced cyclones. The SAC chairman stated that they have encountered natural disasters like typhoons and floods, which have jeopardized the livelihoods of the people in the region and the region’s prosperity. We should be prepared for emergencies to mitigate such challenges and adverse effects. The SAC chairman emphasized the necessity of enhancing safety awareness, effective management, and resilience at the regional level.
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