The Cambodia-Laos-Vienam (CLV) Development Triangle Area has achieved an average economic growth of 10 percent in 2011 and 2012 period, meeting the target set for the period.
The CLV Development Triangle Area comprises four provinces in Cambodia , four in Laos and five in Vietnam.
Delegates from all three nations attended a meeting in Vietnam's Kon Tum province last week to discuss measures to foster and strengthen multifaceted cooperation that would help the Triangle Area develop to its potential.
However, report at the meeting noted that while some important targets have been met, much more remains to be done.
Ten years after its establishment, the area attracted only one project funded by foreign Official Development Assistance (ODA). However, the Japanese-funded project, worth 20 million USD has been lagging behind schedule due to procedures. Besides, infrastructure projects in the area are also going at slow speed.
Bounnang Bouna Seng, a representative from Laos said that transportation was the key obstacle for cooperation between the three countries in the triangle area.
Sharing the Lao representative’s viewpoint, Youn Heng, Director of the Evaluation and Incentive Department under the Cambodian Council for Development said, “Infrastructure development is essential to link the regions and facilitate business activities as well as help reduce transport costs for not only investors but people in the area as well.”
Regarding investment, the meeting noted that most of the projects operating in the area, focusing on agriculture, construction, mining and hydroelectric power, have been invested by Vietnamese firms.
Vietnamese businesses have invested in 25 projects with a total registered capital of 1.4 billion USD in the four provinces of Modunkiri, Strung Treng, Rattanakiri and Kratie in Cambodia.
In the four Laotian provinces of Attapeu, Saravan, Sekong and Champasak, Vietnamese enterprises have 50 projects worth a combined registered capital of 1.65 billion USD.
Meanwhile, enterprises from Laos and Cambodia have invested in seven projects with a total investment capital of nearly 200 million USD in five provinces of Vietnam – Kon Tum, Gia Lai, Dac Lac, Dac Nong and Binh Phuoc.
The three countries have cooperated with each other to prepare an industrial development plan for the CLV Development Triangle Area until 2020, with a vision to 2025, which will be the basis for the three countries to promote investment and industrialsation in the area.
After much discussion, the chairpersons of the Coordination Committees in the three countries agreed to pay more attention to upgrading infrastructure in border areas, especially trade and traffic infrastructure.
Towards attracting more investment, the three countries would issue more preferential policies, they agreed.
They suggested regular and timely information exchanges on investment attraction policies of each side, acceleration of border demarcation, and stronger checks on projects that can cause environmental pollution.
The three sides should pay more attention to simplifying procedures for granting through traffic licences to commercial vehicles, and increase quota for transportation means to facilitate trade via borders, delegates said at the meeting.
Bui Quang Vinh, minister of Planning and Investment and chairman of the Coordination Committee of Vienam, said through bilateral agreements with Cambodia and Laos, the Vietnamese Government would annually provide students and officials in the development triangle areas with short and long-term training courses to improve the quality of human resources./.