Viet Nam, South Korea sign MoU on urban and housing development
VGP - A memorandum of understanding (MoU) on urban and housing development was inked between the Vietnamese Ministry of Construction and South Korea’s Ministry of Land, Infrastructure and Transport (MOLIT) in Ha Noi on Tuesday.
Minister of Construction Nguyen Thanh Nghi (R) and Minister of of Land, Infrastructure and Transport Park Sangwoo exchange a memorandum of understanding (MoU) on urban and housing development, Ha Noi, July 16, 2024 - Photo: VNA
Minister of Construction Nguyen Thanh Nghi and Minister of the MOLIT Park Sangwoo signed the document.
At the talks held between the two ministers on the same day, Nguyen expected that the two ministries will increase the exchange of delegations to improve legal institutions in the field of urban development and housing, especially smart cities and social housing.
He suggested the MOLIT continue to promote official development assistance (ODA) projects sponsored by the South Korean Government for Viet Nam while creating favorable conditions for Vietnamese officials to participate in short-term training courses and knowledge sharing programs to improve capacity and strengthen expert network connections.
Both sides should facilitate Korean businesses to implement the Urban Growth Partnership Program (UDPP) for which the Korea Land and Housing Corporation (LH) signed the MOUs with Vietnamese localities, namely Bac Ninh, Bac Giang, Hung Yen, Thanh Hoa, and Binh Duong, he said.
Besides, the two nations should encourage Korean businesses to invest in smart urban development projects and social housing development in Viet Nam, he added.
For his part, Park said, the MOLIT hopes to work closely with the Vietnamese Ministry of Construction towards a long-term and sustainable cooperation.
South Korea stands ready to share experiences and support the Vietnamese side in developing infrastructure, contributing to promoting the nation's economic growth, he stated./.
