Prime Minister Prayut Chan-o-cha yesterday invited businessmen and the private sector from mainland Southeast Asia to play a bigger role in linking businesses and investment in the region amid the trend of protectionism.
The premier was speaking at the opening of the Acmecs CEO Forum held in Bangkok, ahead of the 8th Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy (Acmecs) Summit today.
He highlighted the average economic growth of Acmecs members -- Cambodia, Laos, Myanmar, Vietnam and Thailand (CLMVT) -- at 6-8% annually, as well as citing the rapid changes in the global and Asian economies as factors behind the urgent call to work more closely together.
"I truly believe the Acmecs private sector can link its businesses together with ease. Creating this economic linkage with non-CLMVT countries seems to become harder and harder at a time of escalating trade protectionism in the global economy," he said.
Besides working with the public sector through Public-Private Partnerships (PPPs) in promoting trade and investment in the sub-region, Gen Prayut called on the private sector to identify targets for human resources development and information.
Today the five Acmecs leaders are expected to adopt the first Acmecs Master Plan, to be effective from 2019-2023. It will mainly enhance seamless connectivity as well as smart and sustainable cooperation.
Thailand is ready to promote cross-border trade in the CLMVT countries which is increasing at a rapid clip. Financial regulations will be changed to facilitate this, he said.
Meanwhile, the private sector needs to keep up with digital advancement and technology, and help promote an atmosphere of trust as well as security and stability, he said.
Thailand is ready to cooperate with other countries and share knowledge pertaining to the late King Rama IX's sufficiency economy philosophy, he said.
The prime minister also asked all five Acmecs members to work together to promote tourism in the sub-region while asking investors to consider the Eastern Economic Corridor (EEC) and Special Economic Zones along the border.
He said the Thai government welcomes migrant labourers who come to work legally and promised to protect their rights and ensure their fair treatment while urging the private sector to stop abusive practices.
Cambodian Prime Minister Hun Sen said the proposed Master Plan 2019-2023 to be endorsed today is in line with what Cambodia has been implementing.
"Cambodia has increased its focus on promoting digital connectivity, trade facilitation, investment as well as capacity building in the business sector such as SMEs in order to reduce the developmental gap and accelerate better connectivity between Acmecs countries," Hun Sen said.
In line with the master plan, the Cambodian government is preparing a logistics master plan including digital connectivity, development of infrastructure such as expanding national roads to four lanes, and upgrading a deep-sea port in Sihanoukeville to a depth of 14 metres, which is set to be completed soon.
To promote international trade and investment, he said Cambodia has been implementing a national single window to simplify and reduce international customs procedures, adding the government is amending laws on investment and special economic zones as well as its taxation system.
He said from next year the electricity tariff will be gradually lowered while stability and quality of the utility will be improved.
Gen Prayut yesterday asked his Cambodian counterpart to speed up the opening of a new border checkpoint connecting Ban Nong Ian in Sa Kaeo's Aranyaprathet district with Stung Bot in Cambodia during bilateral talks.
Development projects along shared borders were among the issues raised during the Acmecs meeting and Gen Prayut took this opportunity to discuss them with the Cambodian prime minister on the sidelines of the meeting yesterday ahead of today's sub-regional economic cooperation summit.
The Nong Ian-Stung Bot checkpoint is among the projects Gen Prayut wants to carry out to make border areas "lands of peace and joint development", Thai deputy government spokesman Werachon Sukondhapatipak said after the talks.
Last year, Gen Prayut prompted both countries to speed up construction of a friendship bridge connecting Ban Nong Ian in the East with Stung Bot in Banteay Meancheay province.
Hun Sen agreed with the idea of jointly developing transport links.
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