Economic Corridor Development

Economic Corridor Development Strategy

  • Promote synergies and linkages between economic corridors across SASEC countries to optimize development gains
  • Coordinate planning and programming of projects to link transport infrastructure with urban and industrial development in and among SASEC countries
  • Prioritize construction of economic corridors with potential cross-border linkages
  • Optimize opportunities to bring innovation into public-private partnerships

Key Facts

 

Key Challenges

  • Current industrial bases in South Asia are unconnected to regional and global value chains, which severely hinders the capacity of SASEC countries to optimize effective industrialization processes
  • FDI levels in South Asia remain low as a result of both inadequate infrastructure connectivity and also ‘business unfriendly’ regulatory and institutional frameworks, which in turn negatively impact productivity and competitiveness
  • Poor connectivity infrastructure and regulatory constraints at gateways and border crossings lead to high cost of trading across borders in South Asia, which is still among the highest in the world

Unlocking the Future:
Connected Economic Corridors

  • Synchronizing and integrating urbanization and industrialization to boost productivity and living standards in South Asia and neighboring regions
  • Strengthening existing value chains – both supply chain infrastructure and trading and logistics capacities – and connecting them to value chains in neighboring countries
  • Improving regulatory frameworks to enhance investment climate and provide ease of logistics.
  • Upgrading key transport and trade facilitation infrastructure to build regional multimodal connectivity between economic corridors in neighboring countries
  • Designing robust mechanisms to strengthen collaboration among public and private players in South Asia