PhnomPenh (VNA) - A forum to promote investment, trade and tourism betweenCambodia, Laos, and Vietnam was held in Kratie province, Cambodia on March 9 aspart of the 12th meeting of theJoint Coordination Committee on the CLV Development Triangle Area (JCC CLV DTA12).

The event was attended by senior officials of the three nations,representatives of enterprises operating in the CLV Development Triangle Area, andthose from Vietnam’s Dak Nong, Dak Lak, Gia Lai, Kon Tum and Binh Phuocprovinces. It focused discussion on measures to remove barriers inpromoting investment and trade in the 13 border provinces of the threecountries.

In the CLV Development Triangle Area, Vietnam currently has 116 projects with atotal registered capital of nearly 4 billion USD, accounting for 23.1 percent ofVietnam's total investment projects in Laos and Cambodia.

Bordertrade between Vietnam with Laos and Cambodia has recorded remarkabledevelopment in recent years.

However,there are still some shortcomings related to the "one-stop-shop” model atthe border gates, changes in export-import policy, and infrastructure forpayment and banking.

Deputy Director of the Foreign Investment Agency under the Ministry of Planningand Investment Vo Van Chung stressed the need for joint efforts by the localauthorities of the 13 provinces in the area to overcome difficulties andshortcomings in the time to come.

He also suggested the authorities of Laos and Cambodia make specific reforms ontax incentives in order to create an open business environment for enterprises,especially in the CLV Development Triangle Area.

At the Senior Officials’ Meeting (SOM) on the morning of March 9 in the frameworkof the JCC CLV DTA 12, the local subcommittees of the five Vietnamese provincesfrankly admitted that many issues are hindering the area’s development.

Thesubcommittees asked the three nations’ governments to direct their ministriesand agencies to provide funding for the 13 provinces in the developmenttriangle area to implement the master plan on socio-economic development; andconsider and establish biodiversity corridors in areas shared among the threecountries to enhance the value and conserve biodiversity; and call on donors tosupport the development of infrastructure, especially transport facilities.

In the rubber field, a Cambodian representative agreed on theimportance and sustainability of the Vietnam Rubber Group (VRG)’s investmentproject in Cambodia.

Since 2007, VRG has invested in 19 rubber growing and latex processing projectsin Cambodia, with a total disbursed capital of 750 million USD by the end of2018. The group has so far planted 90,000 hectares of rubber trees in the country,accounting for 90 percent of the total area it committed with the CambodianGovernment.

The Cambodia-Laos-Vietnam Development Triangle Area was established in 1999,initially covering 10 provinces namely Kon Tum, Gia Lai, Dak Lak and Dak Nong(Vietnam); Sekong, Attapeu and Saravan (Laos); and Stung Treng, Rattanakiri andMondulkiri (Cambodia). Vietnam’s Binh Phuoc province, Laos’ Champassak provinceand Kratie of Cambodia were added into the group in 2009.

The group aims to strengthen the solidarity andcooperation among the three countries while ensuring security and politicalstability as well as promoting poverty reduction and socio-economic developmentin the area.

Its cooperation focuses on such areas assecurity-diplomacy, transport, industry, agriculture, trade, investment, socialaffairs, and environmental protection.

Vietnam has joined actively and made important contributionsto the area.-VNA