Representatives of Cambodia, Laos and Vietnam have agreed to assign Vietnam to devise an action plan for effectively implementing the Agreement on Trade Promotion and Facilitation in the Cambodia-Laos-Vietnam (CLV) Development Triangle Area, signed in 2016 in Siem Reap town.
This is one of the important contents stated in the minutes of the 12th meeting of the Joint Coordination Committee on the Cambodia-Laos-Vietnam Development Triangle Area (JCC CLV DTA 12), just inked by the ministers of the three countries.
The event, which took place from March 7-10 in Kratie Province, Cambodia, was jointly chaired by Cambodian Minister of Commerce Pan Sorasak, Lao Minister of Planning and Investment Suphan Keomixay and Vietnamese Minister of Planning and Investment Nguyen Chi Dung.
The Vietnamese side is also assigned to develop specific plans and projects to perform the Action Plan for CLV Economic Connectivity up to 2030.
Regarding tourism, the sides agreed to accelerate the building of a development plan for the sector, and coordinate in collecting information and data to complete relevant reports at the 11th CLV Development Triangle Area Summit in November this year.
Under the minutes, Laos will be the host country of the 11th CLV Development Triangle Area Summit.
Earlier, a forum to promote investment, trade and tourism between Cambodia, Laos, and Vietnam was held in Kratie province on Saturday.
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 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 total registered capital of nearly $4 billion, accounting for 23.1 per cent 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 shortcomings related to the “one-stop-shop” model at the border gates, changes in export-import policy, and infrastructure for payments and banking.
Vo Van Chung, deputy director of the Foreign Investment Agency under the Ministry of Planning and Investment, stressed the need for joint efforts by local authorities in the 13 provinces to overcome difficulties and shortcomings.
He also suggested authorities in Laos and Cambodia made tax reforms to create an open business environment for enterprises, especially in the CLV Development Triangle Area.
At the Senior Officials’ Meeting (SOM) on Saturday morning in the framework of the JCC CLV DTA 12, local subcommittees of the five Vietnamese provinces frankly admitted that many issues were 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 to implement the master plan on socio-economic development; and consider and establish biodiversity corridors in areas shared among the three countries to enhance 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’s (VRG’s) investment project in Cambodia.
Since 2007, VRG has invested in 19 rubber growing and latex processing projects in Cambodia, with total disbursed capital of $750 million by the end of last year. The group has so far planted 90,000ha of rubber trees in the country, accounting for 90 per cent of the total area it agreed with the Cambodian government. VIET NAM NEWS/ANN