The agreement, which also included the creation of favourable conditions for the triangular region that comprises 10 border provinces of Vietnam, Laos and Cambodia, was reached at the third meeting addressing trade, investment and tourism promotion in the Development Triangle, held in Champassak, Laos, on September 22.
Vietnamese Minister of Planning and Investment Vo Hong Phuc joined Lao Minister of Planning and Investment Soulivong Daravong and Cambodian Secretary General of the Development Council Soun Sitthy in chairing the meeting, which brought together both state officials and businesspeople of the 10 localities in the Development Triangle.
Minister Phuc described the three countries policy to develop their shared triangle as a right decision that has contributed largely to promoting each country's socio-economic growth and reinforcing friendship between the three nations.
Following the second meeting of its kind in February this year, the three countries have taken their own initiatives to spur the development of the triangle. In the meantime, mechanisms and policies to facilitate the cross-border flow of people and commodities, investment and trade in the area are being discussed, Minister Phuc added.
At this meeting, the participants focused on assessing what has been done since the two previous meetings and discussed ways to solve difficulties that arise in the process of implementing the reached agreements.The governments of the three countries have high hopes for the effects of promoting the development of the region, which has been highly evaluated for its great potential in the areas of hydro-power industry, mining, industrial crop growing and processing and tourism, to improve the living conditions of local people, the majority of whom belong to ethnic minorities.
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