Congratulatory Remarks at the Opening Session for the 4th Mekong-ROK Business Forum

H.E. Lim Sung-nam,
1st Vice Minister of Foreign Affairs, ROK

Your Excellency U Kyaw Win(우 쪼윈), Union Minister of Planning and Finance of Myanmar,
Mr. Aung Naing Oo(아웅 나잉 우), Secretary of Myanmar Investment Commission,
Mr. Win Aung(윈 아웅), President of UMFCCI (Union of Myanmar Federation of Chambers of Commerce and Industry),
Ambassador 유재경,
Mr. 이동근, Executive Vice Chairman of the Korea Chamber of Commerce and Industry,

Distinguished representatives from Cambodia, Laos, Myanmar, Thailand and Viet Nam,
Distinguished Business leaders from the Mekong region and Korea,
Ladies and Gentlemen,

Good morning! Welcome to the Fourth Mekong-Korea Business Forum. I feel greatly honored to co-host this forum on behalf of
the Korean Government. Let me express my sincere gratitude to our co-host, the Government of Myanmar, for the excellent preparation for this forum. I would also like to extend my warmest welcome to each and every one of you here.

아세안 공동체 출범

As we all know, the ten Leaders representing the ASEAN Member States gathered in Kuala Lumpur last November to announce the official launch of the ASEAN Community. This announcement was an important milestone for the creation of a regional community consisting of a population of 630 million, a combined GDP of 2.5 trillion USD, and an annual growth of between five and six percent.

ASEAN-Korea relations have reached new heights during the last 27 years of Dialogue Partnership. ASEAN is the 2nd largest trading partner and investment destination of Korea.

Moreover, it is a close neighbor that attracts the largest number of Korean visitors. To Korea, the strides taken towards the ASEAN Community present both opportunities and challenges.

A single market in ASEAN will bring greater opportunities for Korean enterprises to enter the ASEAN market. But at the same time, it will expedite the entrance of foreign businesses and will expand the growth of domestic businesses, which  will mean greater competition for Korean enterprises.

메콩지역 개발의 중요성

As is well known, ASEAN has been actively striving to narrow the development gaps and to enhance connectivity, with the Mekong region at the very center. In this regard, Korea has been contributing to the endeavors of ASEAN through development cooperation mechanisms in the Mekong region.

With the abundance of natural resources as well as consumer and labor markets comprising more than 240 million people, the sustainable development of the Mekong region will act as a strong driving force toward the completion of the ASEAN Community.

중소기업의 역할

Ladies and Gentlemen,

I believe that the private sector is the key in opening the door for further development in the ASEAN region and particularly in this Mekong region. 

More than 99% of the businesses in the Mekong region and in ASEAN are small and medium sized enterprises. In this connection, the “ASEAN Community Vision 2025” emphasizes the SMEs’ development strategy and cooperation as a means to build a people-centered community that is resilient and inclusive.

Considering the global phenomenon of jobless growth, SMEs are a valuable source of employment opportunities, and they can be a vehicle for ensuring the sharing of the fruits yielded through economic growth.

한-메콩 비즈니스 포럼의 역할

In previous Mekong-Korea Business Forums, entrepreneurs from both sides were able to form networks and lay a meaningful foundation for even stronger cooperation in the Mekong region.

Building upon these successful achievements, we will discuss the “Realization of Investment opportunity in the Mekong region” at today’s Forum. Through 1:1 business match-ups and the field trip to Thilawa Special Economic Zone, we will try to make greater investment potential in the region a reality.

Also, we will do our best to provide essential information to entrepreneurs of both Korea and
the Mekong region by establishing a cyber secretariat and taking appropriate follow-up measures.

As cooperation between the SMEs of the two sides is strengthened, both sides will be able to reap win-win benefits. For Korean SMEs, there will be more business opportunities in the Mekong region. Businesses of the Mekong region will gain greater technological and innovative capacity, which will ultimately enable them to play an even greater role in the global value chain.

한-메콩 중소기업 협력 강화를 위한 우리의 노력

At the government level, we are also supporting cooperation between the SMEs of the Mekong region and Korea. By actively supporting development in infrastructure, health, education, and other areas where it is difficult to induce private  investment, we are trying to nurture a foreign investment-friendly environment in the region.

In 2015, the Korean Government provided ODA contributions of about 408 million US dollars to the Mekong region.

In particular, Korea’s accumulated ODA to ASEAN is around 3.4 billion US dollars. 72% of that was provided to the Mekong region. Undeniably, the Mekong region is at the center of Korea’s development policy with regard to ASEAN.

Furthermore, my government is implementing projects in infrastructure, ICT, green growth, and other tailored development cooperation projects through the ASEAN-Korea Cooperation Fund and the Mekong-Korea Cooperation Fund, as well as the Mekong-Korea Plan of Action 2014-2017.

Besides, through the annual Friends of the Lower Mekong Senior Officials Meeting, we are actively coordinating development cooperation strategies with other major donor partners such as the US and Japan. We are trying to avoid overlap in development cooperation projects, and thereby to increase efficiency.

Distinguished Guests,

There is a saying, “Action speaks louder than words.” I hope that with your foresight, bold approach and determination, you will fully maximize the investment opportunities in the Mekong region. I believe that it is the small and medium sized entrepreneurs who hold the key to the sustainable growth and creation of employment both in Korea and the Mekong region.

My government will always stand by you as a trusted partner. And we will exert further efforts to achieve the continued development of the Mekong-Korea Business Forum.

Thank you very much for your attention!