KOICA helps Vietnam improve competitiveness

(VOV) -A ceremony was held on June 11 to officially announce the successful completion of a specially designed US$1.5 million integrated information system aimed at improving the competitiveness of Vietnamese businesses.

The system, developed by the Korean International Cooperation Agency (KOICA) in collaboration with the Vietnam Competition Authority (VCA), was funded with official development assistance (ODA) from KOICA.

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The system is expected to enhance the effectiveness and convenience in handling competition cases and improving the quality of services to customers in Vietnam.

At the ceremony, Kim Sik Hyun, Deputy Resident Representative of KOICA Vietnam, expressed his hope that the project will help create the free and fair economic environment, contributing to promoting trade and investment, and further protecting Vietnamese consumers.

Over the past 20 years, through KOICA, the Korean government has funded a number of projects in Vietnam such as establishing stock exchanges, assisting the economic research institute, and giving advice on competition and investment law drafting.

In 2008, KOICA invited Vietnamese staff to the RoK to train in the competition law.