An agreement to this effect was signed by the Luxembourg Minister for Cooperation and Humanitarian Action, Marie Josee Jacobs, and the Vietnamese Minister of Planning and Investment, Vo Hong Phuc, in Hanoi on March 2.

This is the third cooperation programme between the two countries; the two others were for the 2002-2005 and the 2006-2010 periods.

The programme focuses on poverty reduction, infrastructure development, health care, education, human resources for tourism, and the financial-banking sector. It targets some poor provinces such as Cao Bang and Bac Kan in the north and Thua Thien-Hue in the central region.

The programme funds will be disbursed via bilateral cooperation or some organizations of the United Nations and the European Union.

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The same day, Ms Jacobs was received by Deputy Prime Minister Pham Gia Khiem, who expressed his hope that Luxembourg will further invest in Vietnam’s metallurgy, transport, service, banking and finance, and tourism sectors.

Ms Jacobs said Luxembourg will prioritize projects involved in promoting maternal health and reducing the infant mortality rate.

She also pledged that her country will continue to sponsor Vietnam and praised the country for its recent economic achievements.

Luxembourg now ranks fourth in the European Union in respect to investment in Vietnam, with 17 projects capitalized at nearly US$1 billion.