Plans are being drafted to turn Silchar, a city in Assam, India, into a logistics hub. Multimodal transport linkages from Silchar to Myanmar and to Bangladesh are being considered, in line with the Government of India's "Act East" policy. These will decongest Guwahati and place Silchar at the forefront of growing economic relations between India's northeastern states and Bangladesh and the countries in Southeast Asia.
Tags: India, Act East Policy, Myanmar, Bangladesh, Thailand, Economic Corridor Development
The SASEC Program ended 2017 on a high note, having launched the SASEC Vision, welcomed Myanmar as a full member of SASEC, invested almost $1 billion in three new projects during the year, and seen total program investment rise to $10.74 billion for 49 loan/grant projects. The SASEC Vision paved the way in 2017 for strengthened partnership and economic cooperation between the countries of South Asia and Southeast Asia, by leveraging opportunities and synergies found in natural resources.
Tags: SASEC, Myanmar, Trade Facilitation, Energy, Economic Corridor Development
In his keynote address at the ADB Regional Cooperation and Integration Week, ADB President Takehiko Nakao stated that regional cooperation is critical to securing Asia’s economic future. He noted ADB’s continued commitment to support regional cooperation as a means to reduce inequality and overcome infrastructure gaps, and cited specific SASEC projects as effective examples. The ADB Regional Cooperation and Integration Week was held on 27-29 November 2017, in Manila, Philippines.
Tags: ADB, ASEAN, Economic Corridor Development, Energy, Myanmar, Regional Cooperation, SASEC, Transport, World Bank, WTO
The Asian Development Bank has submitted the Comprehensive Development Plan for the proposed Southwest Bangladesh Economic Corridor to the Government of Bangladesh. This strategic framework document will guide the efficient implementation of economic corridor projects, integrating industry, urban, infrastructure, and regulatory frameworks.
Tags: ADB, Bangladesh, Economic Corridor Development
This commentary on the interim report for the Southwest Bangladesh Economic Corridor by Mr. M. Rokonuzzaman Ph.D, Professor, Department of Electrical and Computer Engineering, North South University, Bangladesh, highlights the need for Bangladesh to boost its labor advantage with high-tech innovation to create high-paying jobs for millions of university graduates, ultimately driving the country toward its goal of achieving high-income status by 2041.
Tags: ADB, Bangladesh, Economic Corridor Development
May 2017 April 2017
Bangladesh has the potential to become a transport hub for India, Bhutan, Nepal, Maldives, Sri Lanka, and Myamar, according to Mr. AMA Muhith, Finance Minister, Bangladesh. Turning Bangladesh into a regional and transshipment hub would enhance economic cooperation and result in collective economic growth for the countries, Mr. Muhith said at the SASEC Finance Ministers’ Meeting in New Delhi, India.
Tags: Bangladesh, Bhutan, Economic Corridor Development, Energy, ICT, India, Nepal, Maldives, Myanmar, SASEC, South Asia, Sri Lanka, Trade Facilitation, Transport, Regional Cooperation
Mr. Wencai Zhang, Asian Development Bank Vice President, discusses in this commentary how Asia’s growth poles will drive the global economy in the coming years, if South Asia, Southeast Asia, and East Asia can dynamically integrate their economies. He emphasized the urgent need to synch strengths across sub-regions—by removing non-tariff barriers, strengthening connectivity, and building economic corridors—to help erase poverty in the region.
Tags: ADB, Myanmar, Bangladesh, Connectivity, Economic Corridor Development
South Asia Subregional Economic Cooperation (SASEC) investment projects increased to a cumulative $7.66 billion in the areas of transport, energy, trade facilitation, and ICT with the recent approval of India’s Bihar New Ganga Bridge Project. To date, 40 SASEC-supported projects are helping member countries strengthen regional connectivity infrastructure, promote economic growth, and foster regional cooperation. In addition, there are now 71 technical assistance projects worth $66.14 mi
Tags: SASEC, Energy, Trade Facilitation, Transport, South Asia, ADB, ICT, Bangladesh, Bhutan, India, Maldives, Nepal, Sri Lanka, Economic Corridor Development
The economic corridor development (ECD) strategy is an approach that integrates and synergizes industry, infrastructure, and urbanization through meticulous planning over a long-term horizon. An Asian Development Bank (ADB) blog post by Mr. Hoe Yun Jeong, Senior Economist (Regional Cooperation), South Asia Regional Department, published on 26 July 2016, shares how an ECD approach can be beneficial for the South Asia region.
Tags: Economic corridor, India, Vizag-Chennai Industrial Corridor, South Asia, East Coast Economic Corridor, Economic Corridor Development, Bangladesh, Sri Lanka
Construction of a new road from Imphal City to Tamenglong via Kangchup was officially inaugurated by Manipur Chief Minister Okram Ibobi Singh. The 103-kilometer road improvement is part of a larger program to improve a key strategic thoroughfare on the Asian Highway, integrating South and Southeast Asia, bordering Bangladesh, Bhutan, Myanmar, and Nepal. It is funded by an Asian Development Bank loan, approved in March 2014.
Tags: India, Asian Highway, Transport, Economic Corridor Development