US and Vietnam sign $42 million deal to strengthen bilateral partnership

17-Apr-2020 Intellasia | VNS | 6:02 AM Print This Post

The US Agency for International Development (USAID) and Vietnam’s Ministry of Planning and Investment (MPI) on Wednesday virtually signed a $42 million agreement to advance Vietnam’s economic competitiveness, through strengthening private sector competitiveness, innovation and startup ecosystems, and human capital.

USAID technical assistance activities 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 also foster greater entrepreneurship; enable deeper linkages of Vietnamese start-ups to corporations, investment capital, and other supporting organisations in the international innovation and startup ecosystems; and strengthen high-quality human capital needed for a robust knowledge-based economy.

Speaking at the signing ceremony, US Ambassador to Vietnam Daniel J. Kritenbrink said this agreement reflects the US’ 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,” he said. million-deal-to-strengthen-bilateral-partnership_314833.html


Category: Economy, Vietnam

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