Wednesday, 17 November 2010

Cambodian PM suggests setting up fund to advance CLV development triangle area

via CAAI

November 16, 2010 

Cambodian Prime Minister Hun Sen Tuesday suggested to establish a Cambodia-Laos-Vietnam (CLV) Fund to mobilize financial resources to fund the projects of the Master Plan 2010-2020.

The premier made the suggestion at the 6th Cambodia-Laos- Vietnam (CLV) Summit on Development Triangle Area (DTA) held on Tuesday morning in Phnom Penh, which is aimed to further strengthen the cooperation among three CLV countries.

With the financial difficulties, Hun Sen initiated to establish a CLV Fund in order to increase capitals for development projects.

He said that "Japan has financed 20 million U.S. dollars for the development triangle area, but we have to work with Japan and seek other development partners to mobilize capital for the triangle area."

In order to fulfill the programs and projects of the Master Plan, Hun Sen also suggested "to primarily shortlisting a number of prioritized projects from our cooperation sectors," such as infrastructure, trade and investment, social development and cultural conservation, agro-industry, tourism, and environment.

"The CLV Summit is not only to strengthen cooperation among the three countries, but also to contribute to the development in the region," said Hun Sen at the opening of the 6th CLV summit.

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