Investment promotion in Cambodia-Laos-Vietnam development triangle

Wednesday, December 05, 2012 - 19:10:27

(VOVworld) - The 7th conference on investment, trade and tourism promotion in the Cambodia-Laos- Vietnam development triangle opened in Kon Tum city on Wednesday. Over the past few years, the three countries have strengthened cooperation in these fields. The trade turnover between Vietnam and Laos this year totaled nearly 900 million USD, up 18% against last year. Meanwhile two way trade value between Vietnam and Cambodia reached more than 3.2 billion USD this year, up 14%. Laos and Cambodia are currently the two largest investment destinations of Vietnamese enterprises accounting for more than 50% of Vietnam’s overseas investment value. In 5 provinces in the development triangle in Vietnam, Laos has 5 projects with total capital of 77 million USD and Cambodia has 2 projects worth 18 million USD. The conference attendees highlighted outcomes the three countries achieved in the development triangle but agreed that these results have not matched their potential. Dang Xuan Quang, Deputy Director of the Foreign Investment Department under the Ministry of Planning and Investment says: "The Vietnamese government, the Ministry of Planning and Investment and the Department of Foreign Investment have paid special attention and devised several programs to strengthen investment in this region. But I think it would be more effective if Vietnam, Laos and Cambodia agree on joint action programs to coordinate resources of all countries thus further promoting investment in the development triangle in the near future".

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