The conference takes place in Champasak on December 9 (Photo: VNA)

Vientiane (VNA) – The ninth conference on trade, investment and tourism promotion in the Cambodia-Laos-Vietnam (CLV) Development Triangle Area was held in Laos’s Champasak province on December 9.

The function was among a series of events within the framework of the 10th Meeting of the Joint Coordination Committee on the CLV Development Triangle Area in Champasak.

It served as a platform for the three countries’ policy makers to review the promotion of trade, investment and tourism in the area, disseminate new policies designed for their businesses and receive enterprises’ proposals.

Addressing the conference, Lao Deputy Minister of Planning and Investment Kikeo Chanthabouly said despite rapid growth, the socio-economic situation and infrastructure in the Triangle Area have not been on par with its development potential.

To further develop the area, the countries’ Governments need to provide optimal mechanisms and policies for businesses’ operations. They should utilise their cultural similarities, time-tested friendship, natural resources advantages and tourism potential to attract more investment from the private sector, he noted.

A number of straightforward opinions and useful suggestions were raised at the conference. Outstanding proposals included overhauling agreements and legal documents signed among the countries, upgrading the infrastructure at national and international border gates, and improving the quality of human resources.

Cao Huy, Vice Chairman of the People’s Committee of Dak Nong province, told Vietnam News Agency correspondents that Vietnam has upgraded a number of important facilities in the triangle like Ho Chi Minh Road and roads No. 14C, 19 and 24, better meeting growing demand of socio-economic development in the area.

Vietnam has invested 3.8 billion USD in 109 projects in the Development Triangle Area with 47 projects worth 1.5 billion USD in Cambodia and 62 others worth 2.3 billion USD in Laos, he added.

The CLV Development Triangle Area covers four Cambodian provinces (Ratanakiri, Stung Treng, Mondulkiri, Kratie), four Lao provinces (Attapeu, Salavan, Sekong, Champasak), and five Vietnamese provinces (Kon Tum, Gia Lai, Dak Lak, Dak Nong, Binh Phuoc).-VNA