USAID and MPI sign agreement to expand cooperation

Friday, 22/04/2022 10:41
(CPV) - The United States Agency for International Development (USAID) and Vietnam’s Ministry of Planning and Investment (MPI) on April 21 signed an amendment to their bilateral partnership agreement to expand USAID’s support to Vietnam to include local capacity development.

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Illustrative photo (Source: VNA)

The bilateral partnership agreement, as amended, will expand the  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 USD42 million to up to USD100 million, and will continue for an additional three years, to September 30, 2028.

Speaking about the agreement, USAID Vietnam Mission Director Ann Marie Yastishock said, “This agreement reflects the United States’ continued commitment to support Vietnam’s efforts to become a more open, innovative, and inclusive economy. Through close collaboration with the Government of Vietnam, we can ensure that USAID’s development assistance will meet our two countries’ mutual vision for a prosperous and independent Vietnam.”

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./.