A forum to promote investment, trade and tourism between Cambodia, Laos, and Vietnam was held in Kratie province, Cambodia on March 9 as part of the 12th meeting of the Joint Coordination Committee on the CLV Development Triangle Area (JCC CLV DTA 12).

A participant speaks at the event

The event was attended by senior officials of the three nations, representatives of enterprises operating in the CLV Development Triangle Area, and those from Vietnam’s Dak Nong, Dak Lak, Gia Lai, Kon Tum and Binh Phuoc provinces. It focused discussion on measures to remove barriers in promoting investment and trade in the 13 border provinces of the three countries. 

In the CLV Development Triangle Area, Vietnam currently has 116 projects with a total registered capital of nearly 4 billion USD, accounting for 23.1 percent of Vietnam's total investment projects in Laos and Cambodia. 

Border trade between Vietnam with Laos and Cambodia has recorded remarkable development in recent years. 

However, there are still some shortcomings related to the "one-stop-shop” model at the border gates, changes in export-import policy, and infrastructure for payment and banking. 

Deputy Director of the Foreign Investment Agency under the Ministry of Planning and Investment Vo Van Chung stressed the need for joint efforts by the local authorities of the 13 provinces in the area to overcome difficulties and shortcomings in the time to come. 

He also suggested the authorities of Laos and Cambodia make specific reforms on tax incentives in order to create an open business environment for enterprises, especially in the CLV Development Triangle Area.

At the Senior Officials’ Meeting (SOM) on the morning of March 9 in the framework of the JCC CLV DTA 12, the local subcommittees of the five Vietnamese provinces frankly admitted that many issues are hindering the area’s development.

The subcommittees asked the three nations’ governments to direct their ministries and agencies to provide funding for the 13 provinces in the development triangle area to implement the master plan on socio-economic development; and consider and establish biodiversity corridors in areas shared among the three countries to enhance the value and conserve biodiversity; and call on donors to support the development of infrastructure, especially transport facilities. 

In the rubber field, a Cambodian representative agreed on the importance and sustainability of the Vietnam Rubber Group (VRG)’s investment project in Cambodia.

Since 2007, VRG has invested in 19 rubber growing and latex processing projects in Cambodia, with a total disbursed capital of 750 million USD by the end of 2018. The group has so far planted 90,000 hectares of rubber trees in the country, accounting for 90 percent of the total area it committed with the Cambodian Government.

The Cambodia-Laos-Vietnam Development Triangle Area was established in 1999, initially covering 10 provinces namely Kon Tum, Gia Lai, Dak Lak and Dak Nong (Vietnam); Sekong, Attapeu and Saravan (Laos); and Stung Treng, Rattanakiri and Mondulkiri (Cambodia). Vietnam’s Binh Phuoc province, Laos’ Champassak province and Kratie of Cambodia were added into the group in 2009.

The group aims to strengthen the solidarity and cooperation among the three countries while ensuring security and political stability as well as promoting poverty reduction and socio-economic development in the area.

Its cooperation focuses on such areas as security-diplomacy, transport, industry, agriculture, trade, investment, social affairs, and environmental protection.

Vietnam has joined actively and made important contributions to the area.-VNA