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USAID, MPI ink agreement to expand cooperation

VGP - The U.S. Agency for International Development (USAID) and Viet Nam’s Ministry of Planning and Investment (MPI) on April 21 signed an amendment to their bilateral partnership agreement to expand USAID’s support to Viet Nam to include local capacity development.

April 22, 2022 11:45 AM GMT+7
USAID, MPI ink agreement to expand cooperation - Ảnh 1.

The amended agreement will expand joint efforts to strengthen private sector competitiveness, innovation and startup ecosystems, human capital, and local capacity building.

Under this amended agreement, USAID's contribution in these areas will increase from US$42 million to up to US$100 million, and will continue for an additional three years, to September 30, 2028. 

This agreement reflects the U.S. continued commitment to support Viet Nam's efforts to become a more open, innovative, and inclusive economy, said USAID/Viet Nam Mission Director Ann Marie Yastishock.

"Through close collaboration with the Government of Viet Nam, we can ensure that USAID's development assistance will meet our two countries' mutual vision for a prosperous and independent Viet Nam", she added. 

USAID technical assistance under this agreement will enhance the capacity of Vietnamese small and growing businesses, including those led by vulnerable populations, by facilitating access to competitiveness-enhancing technology, business management skills, and capital. 

The agreement will strengthen the high-quality human capital needed for a robust knowledge-based economy. 

USAID technical assistance will also help improve the capacity of participating local governments (provincial level and below) to effectively implement policies, as well as increase interaction between local governments, the private sector, and other stakeholders on issues of local socio-economic development.