Binh Phuoc (VNA) – The 11th Investment-Trade and Tourism Promotion Forum of the Cambodia-Laos-Vietnam (CLV)Development Triangle took place in the southern province of Binh Phuoc on December18.

Speaking at the event, head of the Ministry of Industry andTrade’s Foreign Investment Agency Do Nhat Hoang said Vietnam has so farinvested 3.6 billion USD in 113 projects in the area, including 1.6 billion USDin 48 projects in Cambodia and nearly 2 billion USD in 65 projects in Laos,mostly in agriculture and rubber production.

Hoang asked ministries and agencies concerned of the threecountries to promptly refine legal regulations on business and investment, and proceduresregarding taxation, customs and labour, and prioritise transport infrastructureinvestment.

A Lao representative said the forum offers a chance to boosteconomic growth and infrastructure development of each country and the regionas a whole.

He added two-way trade between Laos and Vietnam topped 800million USD last year and surpassed 500 million USD in the first half thisyear, up 14 percent annually. Meanwhile, trade between Laos and Cambodia hasalso prospered.

Vice Chairman of the Binh Phuoc provincial People’sCommittee Huynh Anh Minh said local investors poured 148 million USD into thedevelopment triangle, predominantly in rubber processing and cashewcultivation.

Representatives from 13 regional provinces introducedpotential and business opportunities to investors. They suggested payingattention to training of tour guides with good foreign language command andbuilding the border area into a friendly destination.

A representative from the Council for the Developmentof Cambodia revealed that agricultural investors in Cambodia are exempt from taxfor nine years since the first yield.-VNA