In an effort to increase the awareness of investment, trade and tourism development potential and opportunities, the Vietnamese Government is organising a series of activities called East-West Economic Corridor Week 2007 (EWEC) in central Danang City from August 27 to September 1, 2007. The Prime Minister directed the Ministry of Foreign Affairs to work with Danang City People’s Committee to host this event.
According to a representative from the Ministry of Foreign Affairs, this is a good chance for companies to display goods at the trade fair and exhibition, to seek business and investment cooperation opportunities in the region, and advertise their names to people in other countries.
The East-West Economic Corridor (EWEC), one of the backbones of the Mekong Basin Development Cooperation framework, is the 1,450-km life-line running through 13 provinces in four countries of the Greater Mekong Sub-region (GMS), including Vietnam, Thailand, Laos and Myanmar. The goal of this corridor, running east to west across Southeast Asia, is to boost cross-border investment, trade and tourism.
With the inauguration of the second International Mekong Bridge, the basic infrastructure system of the East-West Economic Corridor is nearly complete. Although the corridor has been put into use, the full exploitation of this route is a complex and long-term issue. It needs greater publicity and popular participation in both public and private sectors. The governments can carry out the corridor and build the infrastructure, but the long-term development of the East-West Economic Corridor depends on private enterprises and cooperation between the public and private sectors, especially in capital supply for economic development.
Regarding investment opportunities, apart from potential benefits from the cooperation in trade, agriculture, farm product processing, and industrial zones, continuous investment for the EWEC traffic system plays a crucial role in developing the regional economy. It is essential to build a chain of Inland Container and Clearance Depots on the corridor. As for maritime shipping and seaports in EWEC countries, Danang Seaport (Vietnam) in particular needs upgrading to meet the logistics demand, serve regional economic development and reduce shipping costs.
Future investment for tourism industry infrastructure and human resources is also a priority of the four EWEC nations, because this industry significantly contributes to their GDP. For visitors from far and wide, the corridor is a place of interest with many unique scenic areas. EWEC is rich in natural resources, cultural identities and histories. The corridor has two World Heritage sites recognised by UNESCO, namely Hue in central Vietnam and Sukhothai in northern Thailand. Visitors also have close access to two other World Heritage sites, My Son and Hoi An, in Vietnam.
Together with tourism and trade development, investment in IT and telecom services like supplying mobile communication terminals and internet connections is also a focus. All of this requires the participation of private investors and companies, bringing business and investment opportunities to the region.
EWEC Week 2007 is one of the first in a series of investment promotion activities for the corridor. This event consists of four main contents:
1. Forum for investment, trade and tourism for EWEC countries (one and a half days)
2. Exhibition and trade fair, during EWEC Week.
3. Caravan tour along EWEC for potential investors to survey practical investment opportunities
4. Traditional culture and sport exchanges among EWEC countries, during EWEC Week 2007.
M.T
Vietnamese
