Greater Mekong SubregionThe Greater Mekong Subregion, (GMS) or just Greater Mekong, is a trans-national region of the Mekong River basin in Southeast Asia. The region is home to more than 300 million people. It came into being with the launch of a development program in 1992 by the Asian Development Bank that brought together the six Asian countries of Cambodia, China (specifically Yunnan and Guangxi), Laos, Myanmar, Thailand, and Vietnam.
East–West Economic CorridorThe East–West Economic corridor is an economic development program initiated in order to promote development and integration of 5 Southeast Asian countries, namely: Myanmar, Thailand, Laos, Cambodia and Vietnam. The concept was agreed upon in 1998 at the Ministerial Conference of the Greater Mekong Subregion, organized in Manila, the Philippines. This corridor became operational on December 12, 2006.
Asian Development BankThe Asian Development Bank (ADB) is a regional development bank to promote social and economic development in Asia. The bank is headquartered in the city of Mandaluyong, in Metro Manila, Philippines, and maintains 31 field offices around the world.
InfrastructureInfrastructure is the set of facilities and systems that serve a country, city, or other area, and encompasses the services and facilities necessary for its economy, households and firms to function. Infrastructure is composed of public and private physical structures such as roads, railways, bridges, airports, public transit systems, tunnels, water supply, sewers, electrical grids, and telecommunications (including Internet connectivity and broadband access).
Economic developmentIn economics, economic development (or economic and social development) is the process by which the economic well-being and quality of life of a nation, region, local community, or an individual are improved according to targeted goals and objectives. The term has been used frequently in the 20th and 21st centuries, but the concept has existed in the West for far longer.Agent (economics)In economics, an agent is an actor (more specifically, a decision maker) in a model of some aspect of the economy. Typically, every agent makes decisions by solving a well- or ill-defined optimization or choice problem. For example, buyers (consumers) and sellers (producers) are two common types of agents in partial equilibrium models of a single market.
HighwayA highway in the broadest sense of the term is any public or private road or other public way on land, including not just major roads but also other public roads and rights of way. In the United States, the term is used to describe major roads. It is sometimes used casually as a synonym of freeway, or expressway, denoting a controlled-access highway. According to Merriam-Webster, the use of the term predates the 12th century.
StandardizationStandardization (American English) or standardisation (British English) is the process of implementing and developing technical standards based on the consensus of different parties that may include firms, users, interest groups, standards organizations and governments. Standardization can help maximize , interoperability, safety, repeatability, efficiency, and quality. It can also facilitate a normalization of formerly custom processes.
PortThe Port of Busan, South Korea.A port is a maritime facility comprising one or more wharves or loading areas, where ships load and discharge cargo and passengers. Although usually situated on a sea coast or estuary, ports can also be found far inland, such as Hamburg, Manchester and Duluth; these access the sea via rivers or canals.
Air transport agreementAn air transport agreement (also sometimes called an air service agreement or ATA or ASA) is a bilateral agreement to allow international commercial air transport services between signatories. The bilateral system has its basis under the Chicago Convention and associated multilateral treaties. The Chicago Convention was signed in December 1944 and has governed international air services since then.
Stimulus (economics)In economics, stimulus refers to attempts to use monetary policy or fiscal policy (or stabilization policy in general) to stimulate the economy. Stimulus can also refer to monetary policies such as lowering interest rates and quantitative easing. A stimulus is sometimes colloquially referred to as "priming the pump" or "pump priming". ConceptDuring a recession, production and employment are far below their sustainable potential due to lack of demand.
Rail transportMode of transportA train in Alaska transporting crude oil in March 2006Rail transport (also known as train transport) is a mode of transport using wheeled vehicles running on tracks, which usually consist of two parallel steel rails. Rail transport is one of the two primary means of land transport, next to road transport. It is used for about 8% of passenger and freight transport globally, thanks to its energy efficiency and potentially high speed.*As an Amazon Associate I earn from qualifying purchases.