On September 16, 2022, Mr. Arkhom Termpittayapaisith, Minister of Finance, in his capacity as Thailand’s IMT-GT Ministerial Representative, chaired the 28th Ministerial Meeting of the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT) at Thanyapura Laguna Phuket Hotel, Phuket Province. The meeting was attended by Mr. Agus Gumiwang Kartasasmita, Minister of Industry of the Republic of Indonesia, Dato’ Sri Mustapa Mohamed, Minister in the Prime Minister’s Department of Malaysia, along with Mr. Ahmed M. Saeed, Vice-President of the Asian Development Bank, Mr. Lim Soo Chean, Director of the ASEAN Connectivity Division, ASEAN Secretariat, and officials from both public and private sectors of all three countries. Mr. Danucha Pichayanan, Secretary-General of the National Economic and Social Development Council, served as Thailand’s senior representative. The 28th IMT-GT Ministerial Meeting also comprised (1) the 29th Senior Officials’ Meeting, (2) the IMT-GT Joint Business Council’s Meeting, and (3) the 19th Chief Ministers and Governors’ Forum.
During this meeting, the IMT-GT Ministers of all three countries were briefed on the progress reports of IMT-GT operations as follows:
1. Physical Connectivity Projects (PCPs) totaling 36 projects with a combined value of over 57 billion USD (approximately 2.10 trillion baht). Thailand’s projects showing concrete progress include the construction of the connecting road between Sadao-Bukit Kayu Hitam customs checkpoints, the construction of the second Kolok River Bridge (Su-ngai Kolok-Rantau Panjang), the construction of a new bridge (Tak Bai-Pengkalan Kubor), the Hat Yai-Sadao Motor Way construction project, the Phuket Airport Development Phase 2 project, and the Hat Yai-Padang Besar double-track railway construction project.
2. The IMT-GT Ministers of all three countries witnessed the signing of the Memorandum of Understanding on the Rubber City Project and Rubber Industry Cooperation in the IMT-GT Subregion to collaborate in formulating policies and strategic directions for driving the rubber industry, strengthening the rubber industry value chain, and enhancing the potential of rubber cities in the IMT-GT subregion.
3. Welcomed India’s participation as an IMT-GT development partner, being the first country to join as a development partner. All three countries will jointly formulate action plans with India based on the utilization of specialized knowledge and expertise, while also aiming to expand cooperation with the Asian Development Bank, ASEAN Secretariat, and other development partners to create strong and inclusive economic growth in the subregion.
4. The IMT-GT Ministers of all three countries approved the Five-Year Implementation Plan 2022-2026 under Vision 2036, which will serve as the development framework for the IMT-GT subregion, focusing on energy and food security, digital transformation, special economic zone development, industrial revolution, cooperation with development partners and all sectors, sustainable tourism, private sector-driven initiatives, balanced growth, inequality reduction, and development of more efficient operational mechanisms.
5. The IMT-GT Ministers of all three countries approved in principle the action plan to celebrate the 30th anniversary of the establishment of IMT-GT cooperation in 2023 and the IMT-GT Visit Year 2023-2025 to revitalize and restore the tourism industry in the IMT-GT subregion.
On this occasion, the Minister of Finance emphasized Thailand’s benefits from hosting this meeting, particularly in facilitating private sector investors for investment in the rubber, palm oil, and halal food industries. The signing of the Memorandum of Understanding on the Rubber City Project and Rubber Industry Cooperation in the IMT-GT Subregion will result in business facilitation and income distribution to rubber farmers. Additionally, the results of the IMT-GT Business Council meeting supported the training-of-trainers project to upgrade community tourism into the digital economy, which is a project that benefits tourism business operators and SMEs by utilizing digital technology as a management tool to strengthen SME operators and revitalize the tourism business sector.
The Minister of Finance also provided three recommendations to transform IMT-GT’s key industries: (1) accelerate the development and expansion of projects to support becoming a single tourism destination, (2) focus on producing high-value agricultural and agro-processed products such as rubber and palm oil, and (3) develop halal certification systems that are globally recognized. At the same time, he proposed that the IMT-GT program develop seamless transportation networks, improve mutually supportive regulations, consider environmental sustainability, and upgrade workforce capabilities, which are crucial factors for subregional development.
At the conclusion of the meeting, the IMT-GT Ministers of all three countries jointly endorsed the Joint Statement of the 28th IMT-GT Ministerial Meeting, emphasizing the importance of collaborative efforts to recover from the COVID-19 pandemic, expressing satisfaction with the progress and achievements of the eight areas of cooperation and setting directions for future operations, as well as approving in principle the Five-Year Implementation Plan 2022-2026 for endorsement by the leaders at the 14th IMT-GT Summit in Cambodia in November 2022. They also assigned all relevant sectors to jointly celebrate the 30th anniversary of the establishment of IMT-GT cooperation in 2023 and implement the IMT-GT Visit Year 2023-2025 action plan to revitalize and restore the tourism industry in the IMT-GT subregion.
In 2023, the Government of the Republic of Indonesia will host the 29th IMT-GT Ministerial Meeting and other related meetings, as well as chair the 15th IMT-GT Summit in Indonesia.
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Office of the National Economic and Social Development Council
September 16, 2022
