VNA
Updated : Thu, December 6, 2012,
The seventh
investment–trade–tourism promotion conference for the
Cambodia–Laos–Vietnam development triangle took place in the Central
Highlands province of Kon Tum on December 5.
The event attracted the participation of representatives from over 400 domestic and foreign businesses.
Two-way trade between Vietnam and Laos, and Vietnam and Cambodia is
estimated to reach a combined total of over 4 billion USD this year.
Vietnam is investing in 50 projects worth close to 1.7 billion USD in
Laos, and 25 projects valued at 1.5 billion USD in Cambodia.
At the event, Pham Thi Hong Thanh, deputy head of the Asia-Pacific
Market Department under the Ministry of Industry and Trade, highlighted
obstacles faced by businesses, including transport, lending requirements
and low consumer demand.
Youn Heng, Director of the Department of Evaluation and Incentives
under the Cambodian Council for Development, said his country will boost
investment in hydropower, thermal power and the power transmission
network in the future.
Besides, firms are facing a workforce shortage in Laos and are
challenged by the distance between Ho Chi Minh City and Champassak
province. Multinational trade traffic through the south of Laos via the
northeast of Cambodia to the southern provinces of Vietnam is slow.
To utilise the region’s potential, Deputy Minister of Planning and
Investment Cao Viet Sinh stressed the need to improve infrastructure,
offer incentives to encourage the participation of all economic sectors,
and accelerate the implementation of the triangle’s development master
plan approved by leaders of the three Governments.
The countries also need to complete the investment and business legal
framework, policies on tax, customs and labour, and administrative
procedures to ensure transparency and synchronicity in all levels of
governance from central to grassroots, Sinh added.
The Cambodia–Laos–Vietnam development triangle comprises 13 border
provinces of the three countries. Initiated by Cambodian Prime Minister
Hun Sen in Vientiane in 1999, the area was established to enhance
solidarity and cooperation for socio-economic development, poverty
reduction and security in the region.
2 comments:
Cambodia and Laos dance to the drums of Vietnam.
Is this the first step to Vietnamezation of its warring neighbors ?
9:42 AM
Most Khmers, if not all think so.
Those infrastructures, including roads, highways, communications, etc... , in time wars or border disputes will be conveniently controlled by Viet armies.
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