Vietnam, Laos, Cambodia discuss triangular growth

Nhan Dan
November 27, 2008

The Prime Ministers of Vietnam, Laos and Cambodia attending the fifth Development Triangle Summit, held in Vientiane, Laos, on November 26 agreed to work together to accelerate socio-economic development in the triangle, covering the three countries’ ten provinces.

The host PM, Bouasone Bouphavanh in his opening speech said that the Development Triangle is a zone of great importance for the three countries and is currently facing numerous difficulties.

The three countries should intensify their co-operation and complete a number of mechanisms and policies in order to facilitate the flow of investment and maximise their potential to develop the area, he stated.

Sharing this opinion, Cambodian PM Hun Sen said that furthering the development in the area would help to effectively narrow the development gap between the three countries.

Co-operation between the nations should be expanded, focusing on border economic zones as well as the tourism, trade, investment and training sectors.

Addressing the summit, Vietnamese PM Nguyen Tan Dung viewed the meeting as opportunities to discuss measures to increase co-operation between the three countries, review the triangle’s development following the fourth summit in Da Lat , Vietnam , in December 2006, and approve preferential mechanisms between the three countries and with other partners.

The PMs agreed that the close and effective co-operation in the development of the triangle had yielded important results in a number of fields, including improved infrastructure and busy trade-investment activities in the area, helping to increase socio-economic development and improve the living conditions of those living in the triangle.

They agreed to intensify their co-operation in economy, trade and investment and pledged to provide more favourable conditions for the three countries’ investors in the area.

The leaders approved of the recent signing of a memorandum of understanding to issue special preferential policies for the development triangle in order to attract investors from within the three countries, as well as from others to the area.

Highlighting the important role played by businesses in developing the area, the leaders supported the Lao PM’s idea of organising a business forum to increase government-business dialogue and encourage them to contribute further to the development triangle.

They agreed to hold a youth forum for the three countries’ younger generations to meet and exchange their views and experiences.

The three PMs praised the effective co-operation between the three countries and Japan in developing the triangle and hoped that Japan would further its co-operation and financial commitment to development in the triangle.

Concluding the summit, the PMs passed the summit’s joint statement, and signed the Vientiane declaration on co-operation within the development triangle and a memorandum of understanding governing a range of preferential policies for the area. (VNA)