Vietnam-Laos-Cambodia economic cooperation needs to achieve strategic breakthroughs
VOV.VN - Prime Minister Pham Minh Chinh of Vietnam, Prime Minister Sonexay Siphandone of Laos, and Prime Minister Hun Manet of Cambodia held a special networking breakfast with the leadership of the ASEAN Business Advisory Council (ASEAN BAC) in Vientiane on October 10, on the sidelines of the 44th and 45th ASEAN Summits in Laos.
The Prime Ministers and ASEAN BAC representatives discussed solutions to enhance cooperation and deepen the partnership among the three countries in economic integration. They focused on strengthening connectivity, including improving infrastructure and transportation links to facilitate trade and investment flows; enhancing economic resilience; introducing policies that can withstand economic shocks and ensure sustainable growth; and particularly empowering the private sector to encourage greater participation and investment from ASEAN businesses in regional development initiatives.
The Prime Ministers showed their interest in the business community as well as ASEAN BAC, and outlined directions for cooperation and development, especially in areas such as food security, digital transformation, infrastructure connectivity, and development of industrial parks and economic zones, aimed at enhancing g effective economic cooperation among the three countries.
Representatives from ASEAN BAC noted that in 2024, the Council has introduced various ideas to foster economic cooperation, including projects to support micro, small, and medium-sized enterprises (MSMEs), accelerate digital transformation, and promote sustainable development. They affirmed their commitment to advancing modern, smart logistics infrastructure, highlighting the important initiative of Vietnam’s Logistics ICD Vinh Phuc, a superport logistics hub, aiming to enhance regional supply chain connectivity.
ASEAN BAC Vietnam, Laos, and Cambodia are committed to implementing activities aligned with the directions and guidance of the Prime Ministers regarding accelerating reforms, improving the business environment, and especially facilitating small and medium-sized enterprises toward sustainable, inclusive development that connects businesses with the local community.
In his remarks, Prime Minister Pham Minh Chinh affirmed that the tradition of solidarity and mutual support among Vietnam, Cambodia, and Laos is a valuable asset and a foundation for developing cooperative and trust-based relationships, which is key to fostering unity among the three countries.
In recent times, he said many trilateral cooperation mechanisms between Vietnam, Cambodia, and Laos have been established and have proven effective, significantly contributing to strengthening cooperation among the three countries. Economic, trade, and investment cooperation has seen strong progress but still does not match the excellent political and diplomatic relations.
During the tripartite meeting at this summit, the three Prime Ministers agreed that economic, trade, and investment cooperation needs to achieve strategic breakthroughs to be commensurate with the magnitude of political relations and the potential and strengths of each country.
Appreciating this year’s summit theme, “ASEAN: Enhancing Connectivity and Resilience,” Chinh expressed his desire for the business communities of ASEAN countries to continue collaborating and supporting efforts to elevate the economic ties among Vietnam, Laos, and Cambodia, aligning them with their geographical, historical, and political-diplomatic connections.
He emphasized enhancing the integration of the three economies in five key areas, namely, soft connectivity, hard connectivity, trade connectivity, digital and energy infrastructure connectivity, and business connectivity.
The government of Vietnam is committed to working alongside the governments of Laos and Cambodia to facilitate cooperation, investment, and business opportunities for enterprises, stated the PM.
