India's vision of the Indo-Pacific, of which CLMV (Cambodia, Lao PDR, Myanmar and Vietnam) countries are a part, envisages a free, open, inclusive and rules-based region, Minister of State for External Affairs V Muraleedharan has said. Speaking on 'Building Bridges for Constructive Development' at the 6th India-CLMV (Cambodia, Lao PDR, Myanmar and Vietnam) Business Conclave, Muraleedharan said it is India's firm belief that promotion of businesses and private investments is essential for growth in CLMV region.
"Towards this end, a Project Development Fund titled 'PDF-CLMV Fund' with a corpus of Rs 500 crore has been created by government of India in order to catalyse investments from Indian private sector in the CLMV region by setting up manufacturing hubs in CLMV countries," he said. In this regard, currently two projects in Myanmar and one project each in Vietnam and Cambodia have been identified for collaboration with the Indian private sector.
India's vision of the Indo-Pacific, of which CLMV countries are a part, envisages a free, open, inclusive and rules-based Indo-Pacific region with an emphasis on ASEAN centrality, respect for sovereignty and territorial integrity of all nations in the region, peaceful resolution of disputes, avoidance of use or threat of use of force and adherence to international laws, rules and regulations, Muraleedharan said at the conclave on Thursday. India's objective is a multi-faceted engagement with all countries in the region and those with stakes in it, to enhance Security And Growth for All in the Region (SAGAR), he said India is committed to ASEAN integration and connectivity agenda, and looks forward to ASEAN countries for the utilization of USD 1 billion credit line for enhancement of physical and digital connectivity, the minister said.
"I would like to take this opportunity to invite CLMV countries to join the International Solar Alliance (ISA), Coalition for Disaster Resilient Infrastructure (CDRI) and participate in activities of seven pillars of Indo-Pacific Oceans Initiative (IPOI), which has synergies with ASEAN Outlook on Indo-Pacific (AOIP)," Muraleedharan said. Platforms such as these can go a long way in reassuring an uncertain world about the progressive policy decisions which national governments are undertaking to counter the negative effects of this pandemic and to suggest the way forward, he said.