Summits pave the way for regional progress

The regional leaders discussed new measures for increased cooperation

Last week, Dung led a Vietnamese delegation to Myanmar to attend the seventh Cambodia-Laos-Myanmar-Vietnam Summit (CLMV 7), and the sixth Ayeyawady-Chao Phraya-Mekong Economic Co-operation Strategy Summit (AMECS 6) from June 22-23.

At the CLMV 7 on June 22, Dung underlined the need for the four nations to further solidify co-operation by strengthening connectivity on policies and infrastructure, facilitating travel and trade, constructing joint commercial service centres, and fostering the best conditions for investment.

He also stressed that the countries needed to focus on improving the quality of human resources for further industrialisation and improving regional supply chains. Efforts also needed to be made on disseminating information about the nations’ competitive advantages and new business opportunities.

At the AMECS 6 on June 23, Dung said Vietnam had been making great contributions to the Mekong sub-region.

“Vietnam’s government is greatly improving the country’s business climate. We attach great importance to AMECS co-operation, and stand ready to work with member countries to boost co-operation programmes,” he stressed.

He recommended that the summit’s future endeavours be focused on sustainable agricultural development with the application of high technologies, facilitating travel and trade, especially along economic corridors, and co-operating in the development of the Ayeyawady-Chao Phraya-Mekong river basins with a focus on the sustainable use of water resources.

AMECS countries include Cambodia, Laos, Myanmar, Thailand and Vietnam.

On the sidelines, Dung met with Myanmar’s President Thein Sein. They agreed to strengthen co-operation in agriculture, aquatic production, energy, finance, telecommunications, trade and investment.

Dung proposed that Myanmar consider bilateral co-operation in fishing in Myanmar’s waters and processing aquatic products for export.

Thein Sein said Myanmar attached great importance to cooperation with Vietnam and would consider granting an operation license for the Bank for Investment and Development of Vietnam. The bank also signed several credit and insurance deals with Myanmar partners, including the Global Treasury Bank.

Also on this occasion, Vietnam’s Hoang Anh Gia Lai property complex was opened in Yangon city. This investment, which is one of the biggest property projects in Myanmar, is regarded as a symbol of Vietnam-Myanmar relations.

Vietnam-Myanmar bilateral trade turnover surpassed $480.65 million last year, up 36.8 per cent on-year. The two leaders agreed on a plan to co-operate in 12 sectors and raise the turnover to $500 million within the year. Vietnam currently ranks eighth among the 30 biggest foreign investors in Myanmar, with 33 projects worth $580.4 million. Vietnamese investors in Myanmar include VNPT, Viettel, FPT, Hoa Binh Property and Hoang Anh Gia Lai.

Dung will also visit Japan to attend the seventh Mekong-Japan Summit between July 2 and 4, where he will meet with Japan’s leaders to discuss ways to boost bilateral trade and investment.