In his speech, Lao Minister Vongphosy stated that in recent times, the three Governments have jointly pushed for strong cooperation. Socio-economic development in the region has gradually improved, contributing to poverty reduction and improving people’s lives; facilitating people’s access to education and health services; constructing and upgrading infrastructure, including transportation and telecommunications networks, electricity and water supplies, tourism development, building schools and hospitals, as well as opening financial and banking service branches for the area.

Minister Nimul proposed specific recommendations to promote cooperation in the CLV Development Triangle Area, including early completion of socio-economic development reports of the Area, plans to connect the three economies, as well as how to improve the quality of human resources, attract investment and implement joint projects in the region.

It is also necessary to effectively implement the action plan for tourism development, considering tourism as a focal point of cooperation with the motto of “three countries, one destination”, and continuing effective cooperation in the development and processing of rubber for domestic consumption and export. Additionally, there needs to be more active engagement in promoting trade, carrying out trade facilitation and promotion activities as committed.

Vietnamese Minister of Planning and Investment of Vietnam Nguyen Chi Dung, Lao Minister of Planning and Investment Khamjane Vongphosi and Cambodian Minister of Commerce CHAM Nimul (from right to left). Photo: MPI

For his part, Minister Dung believes that to promote the implementation and build cooperation orientations and plans for the CLV Development Triangle Area, the three countries need to come up with breakthrough solutions for infrastructure development, human resource development, and institutional reform.

Besides focusing on institutional reforms, infrastructure, and human resources development, the three countries need to continue implementing cooperative programs in various fields.

Economic cooperation is one of the key highlights. Focus should be on developing an action plan to effectively deploy agreements and arrangements agreed upon and signed within the framework of cooperation of the CLV Development Triangle Area, continue researching to specify through specific mechanisms, policies for the area to encourage trade and investment, focusing on border trade and mainland border economic development among the three countries, and constructing border infrastructure.

It is also need to quickly and effectively implement the action plan to connect the three economies to enhance competitiveness, attract foreign investment, and close the development gap with other ASEAN members.

Along with economic development cooperation, emphasis should be placed on strengthening cooperation in security and foreign affairs, social, environmental aspects; cooperation in seeking resources to implement development projects in the region.

On this occasion, the three ministers signed the minutes of the meeting as an important basis for implementing tasks in the coming time. The parties reaches consensus on cooperation orientations and breakthrough solutions to promote increasingly substantive and effective regional cooperation, making an important contribution to promoting the implementation and building cooperation orientations and plans of the CLV Development Triangle Area for the coming time./.