Business

RoK to provide 1.5 bln USD in ODA for Vietnam

The Republic of Korea (RoK) will provide 1.5 billion USD in official development assistance (ODA) for Vietnam for 2016-2020 via the Korea Economic Development Cooperation Fund (EDCF).
RoK to provide 1.5 bln USD in ODA for Vietnam ảnh 1At the event (Source: VNA)
Hanoi (VNA) – The Republic of Korea (RoK) will provide 1.5 billion USD inofficial development assistance (ODA) for Vietnam for 2016-2020 via the KoreaEconomic Development Cooperation Fund (EDCF).

A frameworkagreement to this effect between the two governments was signed by Minister ofPlanning and Investment Nguyen Chi Dung and RoK Ambassador to Vietnam Lee Hyukin Hanoi on November 8.

With tenarticles, the agreement specifies lending conditions, disbursement, and Vietnam’sincentives for projects using the RoK-funded ODA. The sum will be reserved forprojects chosen by the two governments.

Speaking atthe signing ceremony, Minister Dung said the RoK’s ODA has been used in importantand priority fields in Vietnam over the past more than two decades.

He alsolauded the RoK government for considering Vietnam a top priority partner in ODAsupply.

AmbassadorLee vowed to work closely with Vietnamese agencies to realise the agreementwhich creates a legal framework for the process.

Since 1993,the RoK has offered 2.7 billion USD in ODA to Vietnam to carry out nearly 60projects, mostly in transport infrastructure, urban development, health care, andwater supply and drainage.-VNA
VNA
#Republic of Korea#official development assistance#Korea Economic Development Cooperation Fund#Minister of Planning and Investment Nguyen Chi Dung#ODA#Vietnamplus#Vietnam News Agency
Follow VietnamPlus

Related News

Vietnam, RoK seek to deepen bilateral ties

Vietnam, RoK seek to deepen bilateral ties

Deputy Prime Minister Truong Hoa Binh has called on Vietnam and the Republic of Korea (RoK) to increase the exchange of high-ranking visits and meetings in order to enhance political trust, expand cooperation and deepen their bilateral ties.
Vietnam, RoK further friendship relations

Vietnam, RoK further friendship relations

The Vietnam Union of Friendship Organisations (VUFO) always wants the best environment for the community of Republic of Korea citizens in Vietnam, said VUFO General Secretary Don Tuan Phong.
Vietnam-RoK ties flourishing at 25

Vietnam-RoK ties flourishing at 25

A quarter of a century of diplomatic relations between Vietnam and the RoK has yielded substantial progress, especially in investment and trade, said Bui Huy Son, head of Vietrade.
Vietnam, RoK share experience in policy communication

Vietnam, RoK share experience in policy communication

More than 100 scientists, policy makers, researchers, lecturers and press experts from Vietnam and the Republic of Korea (RoK) were brought together at a workshop in Hanoi on November 1 to share experience in communicating public policy to promote social consensus in specific arenas such as healthcare and nuclear energy.

See more

Industrial factories in Tan Uyen city, the southern province of Binh Duong (Photo: VNA)

Investors upbeat about Vietnam’s industrial property market

Investors are bullish on Vietnam's industrial property market growth on the back of the nation's strategic location, sound infrastructure, and increasing demand for industrial space, particularly industrial parks that meet green standards, according to market research.

Vietnamese Ambassador to Belgium and head of the Vietnamese Delegation to the EU Nguyen Van Thao addresses the forum (Photo: VNA)

Forum connects Vietnamese, Belgian busineses

The Vietnam-Belgian business forum took place in Brussels on October 23, offering a chance for enterprises of the two countries to introduce their products and explore new cooperation opportunities.

The expos cover over 6,000 sq.m, drawing over 210 exhibitors from 10 countries and territories. (Photo: VNA)

Hanoi hosts textile & garment, fabric garment accessories expos

The Vietnam Hanoi Textile & Garment Industry and Fabric Garment Accessories Expos 2024 (HanoiTex & HanoiFabric 2024) is taking place in Hanoi on October 23 – 25 as part of a series of international exhibitions on Vietnam's textile and garment industry.

Representatives from Vietnamese and Lao agencies, localities and businesses at the opening ceremony of the Vietnam-Laos trade fair 2024 in Xiengkhouang province. (Photo: VNA)

Vietnam, Laos step up trade, tourism promotion

A Vietnam-Laos trade fair was kicked off in Phonsavanh township in Xiengkhouang province of Laos on October 23 as part of activities to celebrate the 75th anniversary of the traditional day of Vietnamese volunteer soldiers and experts in Laos (October 30, 1949 – 2024).

Illustrative photo (Photo: chinhphu.vn)

Vietnamese goods enter US through global supply chain

The Saigon Co.op Distribution Company Limited (SCD) - a member of the Ho Chi Minh City Union of Trade Cooperatives (Saigon Co.op), and STC Natural Vina Company on October 23 held a hand-over ceremony for goods that will be exported to the US.

Vietnam’s lobsters have clawed their way back onto Chinese menus after a suspension. (Photo: VNA)

Vietnam’s lobsters claw back prominence in China

Vietnam’s lobster export to the Chinese market in January-September rose 33 folds year-on-year on the back of lower prices and stronger trade ties between the two nations, the South China Morning Post said on October 22.