Conference calls for regional investment

(12-11-2009)

Workers of Song Da Corporation at the Xekaman Hydroelectric Plant No 3 in the Lao Province of Sekong. The plant is part of the energy co-operation programme between Viet Nam and Laos. — VNA/VNS Photo Ngoc Ha

DAK LAK — A conference to promote investment, trade and tourism in the Viet Nam-Laos-Cambodia triangle took place in the Central Highlands province of Dak Lak yesterday.

The annual conference, the fourth of its kind, served as a forum to introduce potential and investment incentives to entrepreneurs from all three countries.

This year’s conference was co-chaired by Viet Nam’s Deputy Minister of Planning and Investment Nguyen Van Trung, his Laotian counterpart Thoongmy Phomvisay and Secretary of State of Cambodia’s Ministry of Commerce Mao Thora.

Representatives from embassies and international organisations based in Viet Nam, the three countries’ ministries and up to 300 business people attended.

A selection of reports presented at the conference showed the three neighbours still had potential for further co-operation as Viet Nam boasted many ports and deep water harbours, a large consumer market of 86 million people, modern technologies and an abundant skilled workforce.

Meanwhile, Cambodia and Laos possessed many advantages in terms of agricultural and forestry products, hydroelectric power, natural resources, agricultural land for industrial crops, and tourism.

To step up co-operation and investment in the region, the participants suggested building a comprehensive and long-term programme of co-operation, jointly co-ordinated by the countries.

They emphasised the need to develop human resources, build and upgrade their respective infrastructures – especially in transport networks, water supply systems and power plants – and promote investment programmes for the whole region.

Despite the impacts of the global financial crisis, the region’s provinces and cities had spared no effort in improving their investment environments and policies to facilitate the business community, the conference was told.

So far, in Viet Nam, Laos had invested US$48 million in eight projects and Cambodia has carried out seven projects, with a combined registered capital of $6.2 million.

In return, Viet Nam had injected more than $3 billion into 166 projects in Laos, and $400 million into 52 projects in Cambodia. Twenty-eight of the Vietnamese-invested projects had taken place in the development triangle.

The conference heard that in the first 10 months of this year, Viet Nam had invested in 20 projects totalling $1.3 billion in Laos and 10 projects worth $218 million in Cambodia — VNS