Opening of the SOM11 Conference in the development triangle region of Cambodia - Laos - Vietnam Many initiatives for economic development cooperation, investment attraction [...]
Many initiatives for economic development cooperation and investment attraction were launched at the 11th Senior Officials Meeting (SOM) of the Zone Tam gi areaThe Cambodia - Laos - Vietnam Development Conference was held this morning in Gia Nghia town, Dak Nong province
According to Deputy Minister of Planning and Investment Nguyen The Phuong, as of October 2016, in 5 provinces in Vietnam's CLV Development Triangle area attracted 203 projects from 23 countries and territories with a total registered capital of 1.63 billion USD.
Vietnamese enterprises have invested in the CLV DTA area of Laos and Cambodia in 109 projects with a total registered capital of 3.842 billion USD on the Vietnamese side (48 investment projects located in the CLV triangle area of Cambodia with a total registered investment capital of 1.55 billion USD on the Vietnamese side; 61 investment projects in the CLV triangle area of Laos with total Vietnamese investment capital is 2.29 billion US dollars). Vietnam's projects focus on a number of fields such as agriculture, rubber growing and exploiting, mining, manufacturing and processing industry, finance and banking...
In addition, many important traffic routes in the area have been upgraded and expanded such as National Highway 14C phase 2, National Highway 14 (coincident with Ho Chi Minh Highway), continued investment in foundation and road surface construction, especially the section connecting with Route 76 (Cambodia) is 65km long, with an investment capital of 480 billion VND, currently being included in the 2016 Plan - 2020 of Dak Nong province for implementation.
“However, these results are quite modest, have not created a breakthrough in socio-economic development of localities in the region and shortened the development gap compared to the average of each country,” Mr. Phuong assessed.
This is also the reason why the draft project to connect the economies of the three CLV countries, presided over by the Vietnamese side, received great attention from delegates attending SOM 11.
It should be added that, at the 8th Cambodia - Laos - Vietnam Development Triangle Area Summit taking place in Vientiane (November 2014), at the proposal of Vietnamese Prime Minister Nguyen Tan Dung, the Leaders agreed that the three countries would begin the process of building a project to connect the three economies.
It is known that the Draft Project has been agreed by SOM11 to submit the draft to the 9th CLV Summit for the Prime Ministers of the three countries to approve.
Also at SOM11, countries have basically selected 15 priority projects calling for investment in the CLV area (5 projects per country). According to the assessment of Lao SOM Delegation Head - Thongphan Savanh, proposing priority projects is necessary because this is the basis to call for development partners to research and consider funding for the region.
Also at SOM11, the heads of the three countries' SOM delegation spent time evaluating the situation of cooperation between the three countries since the 8th Summit in 2014 and the 10th Joint Coordination Committee Conference in 2015.
The conference recorded the results of implementing the Memorandum of Understanding between the three countries on the special preferential mechanism; Revised version of the CLV regional socio-economic development planning until 2020.
On this occasion, the Conference called on relevant ministries/sectors/localities of the three countries to continue implementing the Memorandum of Understanding and the Development Triangle Area Plan into specific activities and project programs.
Procedures
