Vietnam’s Multibillion-Dollar Investment Fuels Development in the Triangle Area Bordering Cambodia & Laos

• 20 October 2023
• Local News
• 2850 Views

Vietnam is accelerating progress in the Development Triangle (DTA), a region straddling the borders of Cambodia and Laos, with an impressive investment of over US$ 3.731 billion. This significant commitment is embodied in a multitude of 122 projects, reaffirming Vietnam’s dedication to regional development.

The declaration emerged during a gathering of the National Assembly delegation representing Cambodia, Laos, and Vietnam (CLV) on 18 October 2023. Leading the Cambodian National Assembly delegation was HE Sous Yara, Chairman of the National Assembly Committee on Foreign Affairs, International Cooperation, Propaganda, and Information.

At this pivotal meeting, the three delegations convened with the governors from the five provinces situated within the Development Triangle: Yalai, Kantoum, Dak Lak, Dak Nong, and Binh Phuoc provinces.

HE Vu Hai Ha, Chairman of the Foreign Affairs Committee of the National Assembly of Vietnam, shared the eagerly awaited announcement that the inaugural Tripartite Summit of the three parliaments – CLV – is scheduled for December 2023 in Vientiane, Laos.

Cambodia’s provinces within the Vietnam Development Triangle (DTA) have spearheaded approximately 45 projects valued at US$1.679 billion. On the other hand, some of Laos’ provinces within the Development Triangle (DTA) have contributed to 77 projects worth an impressive US$2.052 billion.

HE Sous Yara expressed full support for the forthcoming meetings in Stung Treng and Champasak provinces. These gatherings will serve as crucial information-gathering and brainstorming sessions, ultimately culminating in a comprehensive report to the respective parliaments of the three nations at their inaugural summit in December.

The Development Triangle marks over two decades of joint efforts since its formation in 1999. As a pivotal mechanism binding these three neighbors, it continues to play a central role in fostering peace and unceasing development across the region.

• Investment and Funding