The Asian Development Bank and the Government of India have signed a $375 million agreement to develop the 800-kilometer Visakhapatnam (Vizag)-Chennai Industrial Corridor. The agreement includes the first tranche of $245 million, which will develop high-quality infrastructure in Visakhapatnam and Yerpedu-Srikalahasti, a $125 million policy-based loan, and a $5 million grant to build climate change resilient infrastructure.
Tags: ADB, Economic corridor, India, Act East Policy, Make in India, manufacturing
Good connectivity reduces the cost of doing business and increases the competitive strengths of trading partners. In this commentary, Dr. Mustafizur Rahman, Executive Director, Centre for Policy Dialogue, highlights how a sanitary and phytosanitary agreement and an effective Bangladesh-Bhutan-India-Nepal Motor Vehicle Agreement would promote South Asian integration and step up Asia-wide cooperation.
Tags: BBIN, Motor Vehicles Agreement, Bangladesh, Bhutan, India, Nepal, Transport, Economic corridor
The National Academy of Customs, Excise and Narcotics (NACEN) in Faridabad, India organized a capacity building program for Bangladesh Customs. Topics included modern clearance processes, Customs valuation, post-clearance audit, use of risk management systems, and the role of Customs in economic corridors.
Tags: Customs, India, Free Trade Agreement, Economic corridor
The Ganges flows through the middle of Bihar, India, physically dividing it into north and south. Enhanced connectivity can improve lives and livelihoods, especially if the infrastructure is climate-sensitive. Ms. Saleha Waseem, Operations Communications Specialist at the Asian Development Bank’s South Asia Regional Department, shows how improving transport links would make a huge difference to millions of people.
Tags: ADB, Agriculture, Bangladesh, Connectivity, Development, Economic corridor, Regional Cooperation, India, Nepal, Road, Services, Transport
India is set to join the Transports Internationaux Routiers (TIR), or International Road Transport Convention in its bid to establish seamless trade connectivity with Southeast Asia and Eurasian countries. Through the TIR Convention, India could access Eurasia via the International North-South Transport Corridor. TIR would also give India an advantage in trade with fellow signatories of the Bangladesh, Bhutan, India, Nepal (BBIN) Motor Vehicles Agreement.
Tags: Bangladesh, Bhutan, India, Nepal, Connectivity, Customs, Economic corridor, Harmonization, Motor Vehicles Agreement, Road, Roads, Trade Facilitation, Trade, Transport, BBIN
The SASEC project portfolio has surpassed the $9 billion mark with the December 2016 approval of Nepal’s SASEC Roads Improvement Project, worth $256.5 million. There are now 44 SASEC investment projects worth a cumulative $9.13 billion. During 2016, seven projects have been approved for a total of $2.37 billion.
Tags: SASEC, Trade Facilitation, Energy, Transport, Roads, Nepal, Bangladesh, Bhutan, ICT, Rail, Economic corridor, Connectivity
November 2016 October 2016
The $631 million loan and grant support from the Asian Development Bank provides a huge boost to the 800-kilometer Visakhapatnam-Chennai Industrial Corridor (VCIC) section of the 2500-km East Coast Economic Corridor. Approved in September 2016, the VCIC Development Program will help develop India’s first coastal industrial corridor and create seamless trade links between South and Southeast Asia.
Tags: Economic corridor, India, Vizag-Chennai Industrial Corridor, Infrastructure, Ease of Doing Business
The six member countries of the South Asia Subregional Economic Cooperation Program have launched the SASEC Operational Plan for 2016-2025. The plan expands the program’s focus beyond intraregional cooperation to deepening linkages with Southeast and East Asia, and widens the scope of transport, trade facilitation, and energy cooperation to include economic corridor development as a priority initiative. The plan also lists more than 200 potential regional projects for South Asia.
Tags: ADB, SASEC, Economic corridor, Bangladesh, Bhutan, India, Maldives, Nepal, Sri Lanka
ADB has approved a multitranche financing facility and grant of $500 million for the Visakhapatnam-Chennai Industrial Corridor Development Program to develop India’s first coastal industrial corridor, with the Government of India also contributing $215 million in funding. The Visakhapatnam-Chennai Industrial Corridor is a key section of India’s planned East Coast Economic Corridor.
Tags: ADB, Economic corridor, Vizag-Chennai Industrial Corridor, India, SASEC, SASEC Operational Plan
The Government of India has proposed formation of a National Industrial Corridor Development Authority to facilitate integrated development of industrial corridors across the country. Two corridors, the Delhi-Mumbai Industrial Corridor and the Visakhapatnam-Chennai Industrial Corridor, are currently under different stages of development.
Tags: India, Economic corridor, Vizag-Chennai Industrial Corridor,
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
The interactive SASEC Corridor Map on the SASEC Program website and SASEC Mobile App is your gateway to SASEC projects. View projects by sector—energy, transport, trade facilitation, and ICT—or by corridor using the interactive map, to learn how the SASEC program is helping promote regional prosperity in South Asia. The map also includes project information and links to SASEC project pages.
Tags: SASEC, Economic corridor, Energy, Trade Facilitation, Transport, Bangladesh, Bhutan, India, Maldives
India is planning to develop regional connectivity projects worth around $5 billion under the Asian Development Bank (ADB)-supported SASEC Program, according to Mr. Shaktikanta Das, Secretary, Department of Economic Affairs, India. These initiatives include two priority road corridors that will boost connectivity with its neighbors in South and Southeast Asia and complementary integrated check posts and land Customs stations. India and ADB will also work together to develop the East Coast Econom
Tags: India, Economic corridor, Energy, Transport, Trade Facilitation
Dr. Selim Reihan notes that drivers of political economy can impact the region's integration agenda. In this essay, Dr. Raihan highlights the importance of exploring the political economy of regional integration to generate a better assessment of the factors driving and constraining regional integration, and create broader awareness among stakeholders to stimulate a more realistic and effective regional policy design and processes.
Tags: Economic corridor, Bhutan, India, Bangladesh, Nepal, Maldives, Sri Lanka, SAARC, SAFTA, Services, South Asia, Infrastructure, Trade Facilitation, Transport
Major upgrades to modernize the Tangail-Rangpur Highway—which is part of the 1,741 kilometers (km) linking Bangladesh with the Asian Highway, and the Bangladesh-Bhutan-India-Nepal road network—are being proposed by Bangladesh Road and Highways Department, to include road widening and construction of bridges, flyovers, and culverts. The plan is currently being reviewed by Bangladesh Planning Ministry.
Tags: Bangladesh, Transport, Economic corridor
January 2016 December 2015
South Asia is set to play a strategic role in Asian integration. This commentary by Mr. Ganeshan Wignaraja, Advisor in the Asian Development Bank’s Economic Research and Regional Cooperation Department, shares how linking emerging South Asia with the more developed member countries of the Association of South East Asian Nations will transform regional economies through development of regional connectivity, and create a huge regional market of 2-3 billion people.
Tags: South Asia, Economic corridor, Development, ASEAN, Southeast Asia, East Asia, Trade Facilitation, Transport, Tourism, manufacturing, Bangladesh, Bhutan, India, Maldives, Nepal
The Asian Development Bank hosted a seminar on economic corridor development on 30 June 2015, where Dr. Pritam Banerjee, Deutsche Post DHL Trade Facilitation and Logistics Expert, discussed necessary macroeconomic reforms from the logistics perspective of economic corridor development facilitation.
Tags: Customs, Economic corridor, Trade Facilitation
Mr. Srini Raju, Chairman and Founder of Sri City, an Indian integrated business city, shared Sri City's development philosophy of Work-Live-Learn-Play at a seminar organized by the Asian Development Bank's South Asia Department and the Urban Sector Group on 5 June 2015. Sri City pursues industrial growth by creating world-class infrastructure and a conducive business climate while supporting sustainable communities.
Tags: India, Economic corridor, Vizag-Chennai Industrial Corridor
The Bangladesh-China-India-Myanmar Economic Corridor (BCIM-EC) – which received formal endorsement through an inter-governmental group meeting in December 2013 – could potentially bring significant benefits to the four countries by deepening economic cooperation and integration. BCIM-EC will increase socio-economic development and trade in South Asia.
Tags: Bangladesh, India, Economic corridor
The Royal Kingdom of Bhutan and India are moving to more sophisticated technologies in an effort to increase trade efficiencies between the two countries. In May 2014, government officials from Bhutan and India agreed to embark on a feasibility study that will pilot UNESCAP's Secure Cross-Border Transport Model (SCBTM) along key trade corridors, aimed at speeding up and reducing the cost of trade through designated land routes and border-crossing points.
Tags: Transport, Connectivity, Economic corridor
The experience of economic corridor development in different regions across continents is examined in this publication, which shares detailed models that assess the economic impact of corridor investments. The South Asia Subregional Economic Cooperation (SASEC) model highlights the regionally inequitable impact of corridor projects and focuses on the incremental effects of infrastructure investments in terms of gains in per capita income.
Tags: Economic corridor, European Union, Infrastructure