Leaders of the three Indochina countries - Laos, Vietnam and Cambodia - agreed to enhance their cooperation in the development of the economic triangle on their common borders. During their summit held on November 25-26 in Vientiane, Laotian Prime Minister Bouasone Bouphavanh said the triangle area is strategically vital to the development of ten provinces bordering Laos, Vietnam and Cambodia. And during the past four years since its development was launched with the support of the Japanese government and people, the region has seen progress in many areas including infrastructures, hydro-power projects, agriculture, trade, investment as well as human resources development, but it has yet to reach its potentials. And there are still many areas where the three nations can boost their cooperation. The Japanese government has provided a $20 million grant in support of the development of the economic triangle, but much more is still needed.
Thus, the governments of all the three neighbors decided that they will encourage more private investors, both domestic and foreign, to play an important role in the development of this area. Particularly, they unanimously agreed that they will provide the private sector with incentives for investment in trade and tourism as well as in other sectors, by granting special privileges in various aspects. And with limited budgets, the three governments acknowledged that it will be impossible for them to build the economic infrastructure required for the development of the triangle.
Thus, they have to continue to rely on help from external sources, and they agreed to seek an opportunity to specially meet with the Japanese Prime Minister at the 14th ASEAN summit which will take place from December 13 to 18, in Chiangmai, Thailand, to request additional assistance. The three leaders will submit to the Japanese leader for consideration the Vientiane Declaration, which they considered a master plan for the development of the economic triangle area in the future.
The CLV (Cambodia-Laos-Vietnam) summit is held every two year. The next meeting will take place in Cambodia.
Listen to Songrit's report for more details in Lao.
