About the CLMVT Forum 2016
A region bustling with opportunities, the CLMVT countries (Cambodia, Laos, Myanmar, Vietnam and Thailand) are going through a momentous time together. With official commencement of the ASEAN Economic Community (AEC) on 31 December 2015, five members of ASEAN which are situated on the mainland Asia and share long historical and cultural ties as well as physical border together, are set to be the main beneficiaries of the Single Market and Production Base with free movement of goods and greater liberalization of services, investment and professional workforce. With a combined population of 235 million, average per capita income of 2,927 USD and average growth rate of 5.8 percent between 2011-2014, the CLMVT at first glance may not look like an economic force to be reckoned with. However, a closer look reveals that this is truly an emerging region as it is indeed packed with many exciting possibilities.
CLMVT is strategically located in Asia, it has a growing and relatively youthful population, the low internet penetration rate means that further development of e-commerce and all things digital is possible, and the shared borders with similar but distinct cultures and exotic environment can open ways for integrated regional tourism development. All these point to the myriad opportunities for greater trade, investment and businesses particularly in logistics, infrastructure, communications, technology, travel-related and food industries. With most countries experiencing global economic downturns, the CLMVT countries are doing surprisingly well as their trade, investment and tourism are slowly building up together. Indeed, the CLMVT looks set to become Asia's New Growth Engine. It is their time to shine.
