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30-616: The India-Middle East-Europe Economic Corridor ( IMEC ) is a planned economic corridor that aims to bolster economic development by fostering connectivity and economic integration between Asia , the Persian Gulf and Europe . The corridor is a proposed route from India to Europe through the United Arab Emirates , Saudi Arabia , Israel and Greece . On 9 September 2023 the Memorandum of Understanding (MoU)

60-646: A sustainable green growth economy for this region. It has been attained by influential organizations like the United Nations ( UNEP and FAO ), WWF, PROFOR and others, in high-level collaboration with the governmental ministries of the countries comprising the Greater Mekong Subregion. Solar and wind energy offer solutions to the environmental and social challenges posed by coal power and hydropower projects. The Mekong countries have substantial potential for solar and wind power. With

90-583: A white elephant investment , an unfair investment of public money and space that sacrifices small business and individual interests in favor of corporate ones. The large investment in a single area can risk reduced investment in other areas, such as health, water and education. Impacts of construction The construction of some economic corridors has a negative impact on the local environment, causing various forms of pollution and sometimes damaging nature reserves , forest parks or wildlife reserves. Industrial construction may also damage cultural monuments along

120-485: A development and infrastructure strategy, the economic corridor may drive the development of regional industries and create thousands of local jobs. Tourism, hotels, catering , and other service industries may gain development opportunities. In addition, the transnational economic corridor can also stimulate the development of foreign trade by providing convenient transportation conditions. Living standards The development of employment, commerce, and trade can increase

150-525: A diverse landscape including massifs , plateaus , and limestone karsts , lowlands , floodplains and deltas , forests ( evergreen and semi-evergreen, deciduous , dipterocarp , mangroves , and swamp ), and grasslands . Water environments include fast-flowing mountain streams and wetlands such as Tonlé Sap in Cambodia. The region's geographic variety and consequent variety of climatic zones supports significant biodiversity , with more than

180-491: A thousand new species discovered in the first decade of the 2000s. The geographic region encapsulates 16 of the World Wide Fund for Nature 's (WWF) Global 200 ecoregions , and habitats for an estimated 20,000 plant species, 1,300 fish species, 1,200 bird species, 800 reptile and amphibian species, and 430 mammalian species (according to WWF, 44 of these are primates , 19 of which are endemic ). Notable species include

210-461: A three-pronged strategy (the three Cs): The GMS Program, with the support of development partners, helps identify and implement high-priority subregional projects in a wide range of sectors: agriculture, energy, environment, health and human resource development, information and communication technology, tourism, transport, transport and trade facilitation, and urban development. More than US$ 20 billion in investments have been directly channeled through

240-785: 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 Province and the Guangxi Zhuang Autonomous Region ), Laos , Myanmar (Burma) , Thailand , and Vietnam . The Greater Mekong holds irreplaceable natural and cultural riches and

270-464: Is considered one of the world's most significant biodiversity hotspots . The region is an important food provider and the site of many large-scale construction projects with social and economic implications. For more than two decades, the six countries of the Greater Mekong Subregion have been working together under an economic cooperation program to realize their vision of a prosperous, integrated, and harmonious subregion. The GMS Program has adopted

300-447: Is often one part of a package of different measures including infrastructure development, visa and transport agreements , and standardization . Social needs, such as housing, are often considered in development plans. The Asian Development Bank coined the term economic corridor in 1998 to describe networks between different economic agents in a region. In practice, the term has most often been used to connote road highways such as

330-449: Is ranked as a top-five most threatened hotspot by Conservation International . The WWF cites accelerating economic development, population growth, and increased consumption patterns as primary causes, including agricultural deforestation , logging and illegal timber trade, wildlife trade, overfishing , dam and road construction, and mining. The WWF also states that the region is particularly vulnerable to global climate change . With

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360-984: The East-West Economic Corridor or the Southern Economic Corridor of the Greater Mekong Subregion . Other corridors are anchored by other types of transportation, such as the China-Pakistan Economic Corridor , which has connectivity both by sea and land. Regional integration Economic corridors not only connect regions and countries through transportation but also strengthen infrastructure construction by establishing industrial clusters , thereby attracting investment and developing regional economy. As Hans-Peter Brunner points out, "they do not stand alone, as their role in regional economic development can be comprehended only in terms of

390-465: The Javan rhino , Irrawaddy dolphins , and Mekong giant catfish , one of the largest extant freshwater fish. The WWF reported that in 2016, 115 new species were discovered in the region, including three mammals, two fish, 11 reptiles, 11 amphibians, and 88 plants. This brings the total number of newly discovered species in the Greater Mekong Subregion from 1997 to 2016 to 2,524. The region's biodiversity

420-537: The network effects that they induce". Recent work has emphasized the need for a clear link of linear infrastructure like roads to establish such integration of broader, spatial economic activities, as exemplified by the Almaty–Bishkek Economic Corridor (ABEC). Economic development A well-functioning industrial cluster will greatly stimulate economic development. As part of a comprehensive strategic development plan and integrated economic network,

450-752: The 22nd Ministerial Conference in Hanoi , Vietnam endorsed the medium-term pipeline of priority projects from 2018 to 2022 . The rolling pipeline includes more than 200 investment and technical assistance projects, which will require more than US$ 80 billion in financing. On 31 March 2018, the Sixth GMS Summit of Leaders in Hanoi adopted the Hanoi Action Plan and the Regional Investment Framework 2022. The region has

480-494: The 40 million people who take part in fishing-related activities in the GMS. The GMS is a hotspot for vector-borne diseases along its watershed, including malaria, but environmental changes such as deforestation have begun to change this reality. A study that compared malaria rates in the northern and southern regions of Laos found that deforestation increases malaria rates in the short term (1–3 years), but lessens them dramatically in

510-573: The EU and China. Saudi Arabia and the UAE, for instance, view IMEC not as a challenge to China but as an opportunity to diversify their economies and strengthen their positions as inter-regional connectivity hubs. This aligns with their broader economic visions and the desire to maximize their geopolitical influence across Asia and Europe. In September 2024, Israel 's Prime Minister Benjamin Netanyahu called

540-472: The GMS are found in Cambodia , Laos , Thailand , Vietnam , and Myanmar . Deforestation in the GMS has many causes, including the expansion of unsustainable rubber and palm oil plantations, dam development , infrastructure development, illegal and unsustainable logging, forest fires, and natural resource exploitation. In effect, deforestation has impacted the environment, biodiversity, and inhabitants of

570-640: The corridor a " blessing " for the middle east, and referred to Iran along with its allies as a " curse ", invoking Deuteronomy , 30:19, in his address to the 79th session of the United Nations General Assembly . Economic corridor Economic corridors often feature integrated infrastructure, such as highways , railroads and ports , and may link cities or countries. Corridors may be created to link manufacturing hubs, areas with high supply and demand, and manufacturers of value-added goods. When implemented, an economic corridor

600-433: The economic corridor will integrate economic development in several regions within a country and/or between neighboring countries. Corridors can reduce production costs due to lower transportation and communication expenses, smooth connections between industrial chains, and shortened delivery times. At the same time, they can promote the development of other local industries, such as tourism and hotels . Employment As

630-441: The incomes of local people and facilitate the development some basic living facilities. Especially in some remote areas, the construction of transportation infrastructure can give residents access to education and medical services nearby, improving living conditions. Crowding out effect The construction of economic corridors requires large public or capital investment, which comes with several attached risks. Critics may describe

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660-655: The potential geography of a corridor and will compete against the current trade route going through the Suez Canal . The project has been delayed due to the ongoing Israel–Hamas war . The route is currently being used to bypass the Houthi blockade and is widely seen as a way to future proof the India-Europe-US supply chain avoiding the Suez canal. In September 2023, Turkish president Recep Tayyip Erdogan criticised

690-616: The program. Since 1998, the GMS program has been using economic corridors to promote economic growth and development. Economic corridors are investment areas, usually running along major highways, which connect centers of economic activity. Three main economic corridors are being developed in the Greater Mekong Subregion: the North-South Economic Corridor, the Southern Economic Corridor, and the East-West Economic Corridor . In September 2017,

720-596: The project for bypassing Turkey , and has vowed for an alternative route, the " Iraq Development Road Project ", which is envisaged to connect the Persian Gulf with Europe through a railway and highway via ports in the United Arab Emirates , Qatar , and Iraq , including the under-construction Grand Faw Port . Despite these challenges, IMEC is viewed positively by participating countries, with expectations to foster economic development, enhance connectivity, and potentially rebalance trade and economic relations between

750-493: The rapid development in the region, conservation efforts to protect natural resources, habitats, biodiversity and local cultures in the Greater Mekong have become urgent. The most pressing current threats are hydropower development, climate change , illegal wildlife trade , and habitat loss . The harvesting and production of natural resources in the Greater Mekong Subregion is of significant economic importance, with

780-463: The region. The increased pollution due to run-off has made the water of the Mekong unhealthy for the fish and for human consumption, while riverbanks have become more susceptible to the pressures of climate change and flash flooding because of missing protection tree roots provide. The loss of flooded forests has also impacted the aquatic food chain, putting further pressures on the fishing industry and

810-492: The retail value of Mekong river fisheries alone estimated at more than US$ 4 billion annually. The Greater Mekong Subregion has become the site of large-scale construction projects and rapid economic development, including hydropower dams, mining, forestry, and industrial production. These factors have raised environmental concerns internationally since the mid-2000s. For now, it has resulted in formulation of environmental programs and strategy proposals and strategy developments of

840-498: The route. If an economic corridor crosses a residential area, construction may force local residents to relocate and lose cultivated or commercial land, employment, and interpersonal relationships. Some residents living and working in agriculture may be impacted by soil erosion and water pollution . This article about the economy is a stub . You can help Misplaced Pages by expanding it . Greater Mekong Subregion The Greater Mekong Subregion , (GMS) or just Greater Mekong ,

870-422: The support of off-river pumped hydro energy storage, solar and wind power emerge as promising and sustainable alternatives for meeting the energy needs of the Mekong region. In the 1970s, the Greater Mekong Subregion was one of the world's most densely forested areas. However, deforestation has reduced its forests by a third and is on a trajectory to lose another third by 2030. The highest rates of deforestation in

900-516: Was signed during the 2023 G20 New Delhi summit by the governments of India , United States , United Arab Emirates , Saudi Arabia , France , Germany , Italy and the European Union . The project was launched to bolster transportation and communication links between Europe and Asia through rail and shipping networks and is seen as a counter to China's Belt and Road Initiative . The memorandum of understanding document has only mapped out

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