On the morning of February 27th, the 13th Conference on Trade, Investment, and Tourism Promotion in the Cambodia-Laos-Vietnam (CLV) Development Triangle Area commenced in Attapeu province, southern Laos. The event was attended by representatives from relevant ministries and departments of the three countries, as well as the government committees, departments, and businesses from 13 provinces within the Development Triangle Area, including Kon Tum, Gia Lai, Dak Lak, Dak Nong, and Binh Phuoc (Vietnam); Sekong, Attapeu, Salavan, and Champasak (Laos); and Stung Treng, Rattanakiri, Mondul Kiri, and Kratie (Cambodia).

The conference evaluated the outcomes of efforts to promote investment, trade, and tourism in each country and among the localities within the CLV area. It assessed the current situation, identified limitations, challenges, and opportunities, and proposed practical solutions for closer collaboration in investment, trade, and tourism. This aims to foster effective cooperation in attracting resources and leveraging the potential and strengths of each locality and country within the CLV area, contributing to socio-economic development, poverty alleviation, and strengthening the traditional friendship and cooperation among Vietnam, Laos, and Cambodia.

The delegates also affirmed that over the past years, investment cooperation among enterprises from the three countries within the Cambodia-Laos-Vietnam Development Triangle Area has achieved certain results. However, it has not yet fully matched the potential and strengths, nor the strategic partnership between the three nations. Many potential sectors remain underexploited, such as agriculture, energy, particularly clean energy like hydropower, wind power, and solar power, minerals, and tourism, which have not yet fully harnessed their strengths.

The delegates also pointed out that there are still several barriers to promoting investment activities in the Development Triangle Area. Although infrastructure has been upgraded, it remains weaker compared to other regions. Investment capital is still lacking, and policies to encourage and incentivize investment are not yet clear. Furthermore, administrative procedures related to goods transportation, customs laws, and taxation remain complex and unresolved.

To help address and resolve these limitations, Mr. Vu Van Chung, Director General of the Foreign Investment Agency at the Ministry of Planning and Investment, proposed several suggestions. He recommended that the countries implement policies to encourage and offer incentives for investment in economically and socially difficult areas, as well as areas with special socio-economic challenges. Specifically, provinces within the Development Triangle should be eligible for the highest investment incentives and encouragement policies. Additionally, he suggested that in the process of developing common action programs for the region, the three countries should consider establishing large-scale raw material zones to encourage and attract investors to build production, processing, and consumption facilities, as well as to export goods along transport routes connecting the provinces in the region to Vietnam's border gates for maritime access, thereby ensuring the sustainable development of the entire Development Triangle area and the interests of the member countries.

The Vietnamese representative also recommended that state agencies of the involved parties regularly review and accelerate the implementation of existing agreements and cooperation between the countries. They should also expedite the establishment of new, necessary cooperation agreements, such as those concerning labor, to ensure investment and business activities and to address any difficulties and obstacles faced by businesses. Furthermore, he urged the effective implementation of bilateral and multilateral cooperation agreements between the parties to create a favorable legal framework for business investment activities. Improving and completing the infrastructure system, particularly transportation, electricity, water, irrigation, and hydraulic infrastructure, was also highlighted. Simplifying customs procedures to facilitate the movement of personnel, goods, equipment, and vehicles across border gates is essential. Lastly, reducing the procedural and cost burdens associated with bringing CLV nationals to work in the Development Triangle area was also proposed.

According to Vietnam's Ministry of Planning and Investment, in the Development Triangle area within Laos and Cambodia, Vietnam has 110 projects with a registered investment capital of over $3.7 billion (accounting for more than 24% of the total number of projects and over 44% of the total registered investment capital in Laos and Cambodia overall). There are 65 projects in Laos with an investment capital of over $2 billion, and 45 projects in Cambodia with nearly $1.7 billion in investment capital. Vietnamese investment projects in this region primarily focus on industrial crop cultivation, construction, mining, and hydropower. Many projects have become operational and are making significant contributions to the local economy by contributing to the state budget, creating jobs for local laborers, and improving infrastructure through small-scale civil works such as roads, schools, and health stations. Additionally, these projects contribute to social welfare efforts in the region.

In Vietnam, the five provinces within the Development Triangle Area, namely Đắk Lắk, Đắk Nông, Gia Lai, Kon Tum, and Bình Phước, have attracted 521 foreign direct investment projects from 30 countries and territories, with a total registered investment capital exceeding $6 billion, including two investment projects from Cambodian enterprises. To date, these five Vietnamese provinces have invested in 48 projects in Laos and Cambodia, with a total registered capital of $1.91 billion. Notably, the majority of this investment is concentrated in the Development Triangle Area of Laos and Cambodia, with 41 projects and a total registered capital of $1.65 billion, accounting for 44% of Vietnam's total investment in the CLV area of Laos and Cambodia.