Greater cooperation and linkage are needed to harness the potential of the Cambodia-Laos-Vietnam (CLV) Development Triangle, including the 2030 economic integration plan, according to Prime Minister Nguyen Xuan Phuc.

Prime Minister Nguyen Xuan Phuc at the summit. Photo: Quang Hieu.

“Strong partnership among the three countries wil lay a solid foundation for the area to continue its strong growth and grasp new opportunities and become a new driving force for growth in the ASEAN,” stated Mr. Phuc at the 11^th CLV Summit, which was held in a virtual platform on December 9 along with the attendance of Lao Prime Minister Thongloun Sisoulith and Cambodian Prime Minister Samdech Akka Moha Sena Padei Techo Hun Sen.

All three leaders stressed the commitment to promoting peace, stability, sustainable development and prosperity in the Development Triangle Area via cooperation, integration, economic restructuring and business environment improvement, in turn contributing to the materialization of ASEAN Community Vision 2025.

The CLV countries are set to build up specific plans to bolster economic linkage until 2030 and tourism development in the 2020-25 period with a vision to 2030 under the “Three countries, One destination” theme.

PM Phuc emphasized while the Covid-19 pandemic has exerted severe consequences on the local economy, Vietnam continues to achieve positive results.

“Vietnam’s strong efforts in pursuing the dual target of both containing the pandemic and boosting economic recovery have led to estimated GDP growth of 2.5-3%, and a record high of trade turnover at US$550 billion,” stated Mr. Phuc.

Going forward, Mr. Phuc called for all CLV countries to continue facilitating trade, investment and tourism based on existing agreements, while taking a more active role in supporting the business community and attracting long-term investment in the region.

“All countries should strengthen cooperation with economic partners to mobilize more resources for development in the CLV region,” added the PM.

Before concluding the summit, the three prime ministers approved a joint-statement for cooperation in the CLV Development Triangle area and Cambodia to become the host country for the 12^th CLV summit.