Development Triangle yields across-the-board benefits
Vietnamese Prime Minister Nguyen Xuan Phuc and his counterparts from Laos and Cambodia met in the Cambodian province of Siem Riep on November 23 to expand cooperation in the CLV Development Triangle Area.
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Initiated by Cambodian Prime Minister Hunsen in 1999, the CLV Development Triangle has proved instrumental in maintaining political security and social order in the border areas between Vietnam, Laos and Cambodia.
This cooperation model has boosted cross-border trade, enabling 13 provinces in the area to enjoy steady GDP growth.
“Vietnam shares more than 100 border gates with Laos and Cambodia. These border crossings have facilitated the flow of commodities between the three neighboring countries”, Vietnamese Deputy Foreign Minister Vu Hong Nam noted.
As the biggest economy in the region, Vietnam has played the leading role in the Development Triangle while respecting equality and the traditional relationships it has enjoyed with Laos and Cambodia. As a result, the area has become a dynamic and creative forum.
“Vietnamese businesses have invested in 200 projects in Laos and another 200 projects in Cambodia. At the same time, Vietnam is attracting investment from Laos and Cambodia. I think this is strong evidence of mutual benefit”, Deputy Foreign Minister Vu Hong Nam added.
The Development Triangle Area covers four Cambodian provinces (Ratanakiri, Stung Treng, Mondulkiri, and Kratie), four Lao provinces (Attapeu, Salavan, Sekong, and Champasak), and five Vietnamese provinces (Kon Tum, Gia Lai, Dak Lak, Dak Nong, and Binh Phuoc).
