Vietnam, Laos, Cambodia target triangular growth

The prime ministers of Vietnam, Laos and Cambodia have agreed to work together to accelerate social and economic development in the geographical territory which spans 10 provinces in the three countries.

Lao PM Bouasone Bouphavanh said the Development Triangle is a zone of great importance currently facing numerous difficulties. The three countries should intensify cooperation and complete a number of mechanisms and policies to facilitate the flow of investment and maximize the development of the area, he stated at the fifth Development Triangle Summit held in Vientiane Wednesday. Cambodian PM Hun Sen said that addressing needs in the area would help to narrow the development gap between the three countries. Cooperation between the nations should focus on border economic zones as well as the tourism, trade, investment and training sectors. The leaders agreed that close and effective cooperation in the development of the triangle has yielded important results in a number of fields, including improved infrastructure and greater trade and investment activities in the area. They pledged to provide more favorable conditions for investment in the area to help boost socioeconomic progress and upgrade living condition for residents of the triangle. The leaders approved of the recent signing of a memorandum of understanding to issue special preferential policies for the development triangle to attract investors. Concluding the summit, the prime ministers passed the summit’s joint statement and signed the Vientiane declaration on cooperation within the development triangle.