Logo of Phnom Penh Post newspaper Phnom Penh Post - VN to build plan for CLV trade promotion

VN to build plan for CLV trade promotion

Content image - Phnom Penh Post
Representatives of Cambodia, Laos and Việt Nam have agreed to assign Việt Nam to devise an action plan for effectively implementing the Agreement on Trade Promotion and Facilitation in the CLV Development Triangle Area, signed in 2016 in Siem Reap, Cambodia.

VN to build plan for CLV trade promotion

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.

Shortcomings

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

MOST VIEWED

  • Municipal hall releases map detailing colour coded Covid risks by commune

    Phnom Penh municipal governor Khuong Sreng released an official map detailing the red, yellow and dark yellow zones within the city under the new lockdown orders for Phnom Penh announced on April 26. The designation of red, dark yellow and yellow corresponds to areas with high,

  • Inter-provincial travel ban lifted; Phnom Penh and Takmao not exempted

    The government on April 25 decided to lift the inter-provincial travel ban and the closure of tourist attractions across the country, effectively immediately. The travel ban and closures of all resorts were imposed on April 6 and 17 respectively in a bid to curb the spread of Covid-19,

  • Gov't mulls extension of Phnom Penh, Takmao lockdown

    The Inter-ministerial National Commission for the Control and Enforcement of Lockdown held a video conference meeting on April 25 to review a draft document on the extension of lockdown in Phnom Penh and adjacent Kandal province’s Takmao town. The meeting was chaired by Minister of

  • Phnom Penh, Takmao lockdown extended for another week

    The government late on April 26 announced an extension of lockdown in Phnom Penh and adjacent Takmao town in Kandal province for another seven days – or longer if residents do not comply with Covid-19 preventive measures and the community outbreak does not subside – until May 5. According

  • Gov’t issues guidelines as lockdown nears end

    The government has issued a five-page set of instructions to be enforced when the three-week lockdown of Phnom Penh and adjacent Takmao town in Kandal province ends on May 6. According to an announcement signed by Prime Minister Hun Sen on May 4, the instructions cover a

  • Phnom Penh unveils rules for post-lockdown transition

    The Phnom Penh Municipal Administration issued a set of detailed guidelines for the seven days to May 12 after the capital emerges from lockdown at the onset of May 6. In the 14-page document signed by municipal governor Khuong Sreng released on the evening of May 5, the