Promoting cooperation in Development Triangle Area
(VOV) - Experts from Cambodia, Vietnam and Laos (CVL) gathered in Siem Reap on September 9, seeking ways to promote trade, investment and tourism in the three countries of the Development Triangle Area (DTA).
The Development Triangle Area holds a strategic position in economic, trade and tourism cooperation among the three countries. It aims to pool more investment resources to spur economic development of 13 provinces in the region and accelerate economic cooperation in the three countries.
Vietnam’s Ministry of Planning and Investment reported at the conference that Vietnam has to date implemented 248 projects totalling US$4.7 billion in Laos, including 61 projects valued at US$2.3 billion in the DTA. These projects are mainly in agro-forestry, mining, manufacturing and processing industry, electric generation, construction, hotel, banking and finance.
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Vietnam has also invested in 143 projects in Cambodia with a combined capitalisation of more than US$3.2 billion, more than a quarter of which in the DTA worth nearly US$2.2 billion. Most of them are in cash crop planting, construction, mining and hydro-electric power generation.
All Vietnamese invested projects have helped promote local economic development, increase State Budget revenues, generate jobs and improve infrastructure.
Leng Rithy, a representative of the Vietnam Rubber Group (VRG) in Cambodia, appreciated Vietnamese businesses’ rubber plantations, helping the Cambodian Government overcome economic downturn and create steady jobs for local people.
Participants worked out solutions for completing legislation and improving infrastructure to attract more investment into the DTA.