listed on the thai stock exchange using the holding company structure. in addition, thailand offers a more opened platform for gms investors and global players looking for opportunities in the gms. a new rule has allowed foreign firms, including those from the gms, to launch ipos in thailand and become listed in the thai stock exchange. this is aimed to provide global investors with wider choices of investment, and to provide an ideal financing destination for both gms members and global players. the last area of policy to promote gms financial connectivity is the better - connected payment networks. under the bank of thailand ’ s payment systems roadmap, we will continue to work with regional regulators to advance payment systems connectivity to support trades, labor movements and tourisms. at present, we are building new electronic payment infrastructure under the national e - payment plan. gms countries can leverage on this infrastructure to improve system capability and connectivity. ladies and gentlemen, bis central bankers ’ speeches the gms is a subregion of opportunities. the asean economic community is now in full swing, and clmv members have now eliminated the last set of tariffs since the beginning of this year. economic transitions following the liberalization in gms countries have unlocked opportunity for foreign investors. higher purchasing power from growing and young middleclass translates into higher demand for goods, services and more sophisticated financial services to be met. enhanced regional connectivity is a key to shared prosperity of the gms. the bank of thailand is committed to promoting financial system connectivity to facilitate closer economic integration, and is ready to move forward with our partners both in thailand and the gms. finally, i thank euromoney once again for organizing this important conference. i wish you productive and engaging sessions throughout the conference. kob khun krub. bis central bankers ’ speeches

veerathai santiprabhob : enhancing greater mekong subregion ( gms ) connectivity keynote address by dr veerathai santiprabhob, governor of the bank of thailand, at the euromoney conferences “ the greater mekong investment forum ”, bangkok, 26 may 2016. * * * excellencies, honorable speakers, distinguished guests, ladies and gentlemen, a very good morning to you all! let me start by thanking the euromoney for organizing this important conference, and inviting me to share my views on the role of connectivity in the greater mekong subregion ( gms ). a few years back, my predecessor, governor prasarn, said in this forum that he pictured the gms in the next twenty years as “ a much more connected and integrated subregion ”. driven by international trade, foreign direct investment, and global and regional production networks, economic integration in the gms has been strengthened at a pace faster than we had expected. over the past decade, the share of intra - regional trade within the gms to total trade volumes has doubled to stand at around 8 percent. this is why i truly believe that the gms will continue to be an ideal choice for regional and global investors, and thailand stands ready to connect businesses wishing to benefit from this vibrant subregion. while trade and investment are definitely major aspects of regional connectivity, the integration that has shaped the gms takes more diverse forms, which profoundly influence each other, including, physical infrastructure, people - to - people, and financial connectivity. to promote regional connectivity on a sustained basis, it is vital that we strive to strengthen all these key aspects by joining forces of both the government and the private sector. let me now address each of them one by one. the first and most fundamental is the physical infrastructure connectivity, for instance, through transportation channels, power lines and digital channels. the work to connect physical infrastructure will always be a work in progress. the past two decades have seen the fruits of various projects to close “ missing links ” in road, rail, waterway, and energy networks in the gms. 19 permanent border crossing points have been established to connect thailand with laos, myanmar and cambodia. energy connection within the subregion has been strengthened. thailand, for example, bought 314 million usd worth of electricity from laos each year, increasing about 8 times over the past ten years. a frequency of flights within the gms, especially by low - cost airlines,