Trade ministers from Cambodia, Laos and Vietnam are to meet next month to
discuss funding plans for a huge development zone straddling the three
countries, China's Xinhua news agency said quoting a report in a local
newspaper, the Phnom Penh Post, Tuesday.
"It's a huge national development plan," said Bou Lam, deputy governor of
Cambodia's Ratanakkiri province.
"We don't have much substantial investment here to capitalize on our rich
natural environment," he was quoted as saying.
He said that the project would also generate much-needed jobs in the province.
"If all these projects are completed, I believe the northern provinces will
become much less isolated from the rest of the country," he said.
The Japan Asean Integration Fund granted US$20 million during a meeting last
year in Phnom Penh to finance development projects in 10 provinces contained by
the Cambodia- Laos-Vietnam Development Triangle (CLV) zone, the newspaper said,
adding that the ministers are to be tasked with disbursing the money.
Cambodia and Laos are to each receive US$7.5 million, and Vietnam is to get
US$3.5 million, it said.
An additional US$1.5 million will be used to study new road links within the
CLV zone, it added.
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