(VOVWORLD) - The United States Agency for International Development (USAID) and Vietnam’s Ministry of Planning and Investment signed an amendment to their bilateral partnership agreement on Thursday to expand USAID’s support to Vietnam to include local capacity development.
 (Photo: USAID) |
The amended agreement will expand joint efforts to strengthen private sector competitiveness, innovation and start-up ecosystems, human capital, and local capacity building.
Under the agreement, USAID's contribution in these areas will increase from 42 million USD to up to 100 million USD, and will continue for an additional three years, to September 30, 2028.
USAID technical assistance will enhance the capacity of Vietnamese small and growing businesses, including those led by vulnerable populations, by facilitating access to competitive 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 at the provincial level and below to effectively implement policies, and increase interaction between local governments, the private sector, and other stakeholders on issues of local socio-economic development.