KOICA increases assistance to Vietnam

(VOV) - The Korea International Cooperation Agency (KOICA) is speeding up a number of development projects in Vietnam following President Park Geun Hye’s recent visit to Hanoi.

KOICA Vice President Jang Hyun Sik told Tien Phong news wire that together with humanitarian and poverty reduction campaigns, KOICA will focus on long-term objectives, including developing human resources for the information technology sector, enhancing judicial and medical capabilities, and developing a land-related information management system.

During President Park’s visit in September 2013, both countries agreed to step up the “Vietnam Happiness Programme”, a US$25 million non-refundable aid initiative to comprehensively develop Vietnam’s underdeveloped areas in line with the Republic of Korea’s New Villages Movement.

A pilot project was implemented in Vietnam ten years ago with KOICA support, and a memorandum of understanding was signed recently between KOICA and Quang Tri and Lao Cai provinces to undertake this initiative.

The two countries also signed an agreement to establish the Vietnam – Korea Institute of Science and Technology (V-KIST), using US$35 million non-refundable aid from KOICA.

Since its establishment in April 1991, KOICA has developed 44 offices around the world and sent approximately 4,500 volunteers abroad annually.

Its major goal is to support sustainable development and become involved in poverty reduction and humanitarian aid programmes in developing nations.