CLV summit pledges efforts to spur growth triangle

The fourth summit of the prime ministers of Cambodia, Laos and Vietnam (CLV) wrapped up yesterday, with the three leaders pledging to put stronger and concrete efforts behind the development triangle scheme.
In a joint communiqu? issued after the two-day meeting in the resort city of Dalat, the three prime ministers agreed on next steps to bolster cooperation for economic development in border provinces of the three countries, with the active involvement of Japan.
The summit was presided over by Prime Minister Nguyen Tan Dung, Cambodian Prime Minister Samdech Hunsen, and Laos Government leader Bouasone Bouphavanh. It was attended by senior officials of the three countries.
A joint coordination committee will be established soon, with each country assigning a minister to serve as the co-chairman of the committee.
The committee, whose key mandates are to promote the implementation of the master plan on the triangle?s development and to prepare common incentives for investment, will convene its first meeting in Vietnam in the next quarter.
The three prime ministers stressed on the necessity to issue incentives so as to create a favourable business environment to attract investors from the three countries as well as from outside the CLV triangle, according to the communiqu?.
The three countries will enhance their coordination to mobilize outside resources, especially from Japan, and will present their joint proposals at the third CLV + Japan Meeting in Cebu in the Philippines.
Japan?s role in the growth triangle was given special emphasis at the summit.
While highly valuating Japan?s investment in the region, the three prime ministers called for further Japanese assistance to the development triangle, especially financial support to 12 socio-economic development projects which have been submitted to Japan since the first CLV + Japan meeting.
The three countries will join forces to organize trade, tourism and investment promotion road shows for the triangle, with the participation of investors from Japan and elsewhere, according to the Vietnam News Agency. The first such promotion road show will be organized soon in Vietnam, and the three countries will arrange a specially-designed trip for Japanese investors to the triangle.
The development triangle encompasses 11 border provinces of the three countries, and was established following initiatives raised at the CLV summits since 1999. The primary goals are to curb poverty and beef up economic growth, and push up social and cultural development in the region on the basis of making full use of the countries? potentials and complementary advantages. Priorities include infrastructure development, power generation, and ICT.
The next CLV summit will be held in Laos in 2008.

 

Category: Legal