Over 1mln USD for developing industrial strategies

The Ministry of Industry and Trade (MOIT) and the United Nations Industrial Development Organisation (UNIDO) launched a project on supporting the Vietnamese Government in building industrial strategies and related policies through institution capacity development in Hanoi on June 17.

The project aims to improve the quality of industrial development strategies and policies to increase the local industry’s competitiveness, thus contributing to reducing poverty and improving gender quality by generating new production activities and jobs.

The three-year project has a total investment of nearly 1.1 million USD, of which 980,000 USD is coming from the Republic of Korea ’s Official Development Fund (ODA) through the UNIDO, and a corresponding fund of 100,000 USD will be covered by Vietnam .

Speaking at the launch ceremony, Head of International Cooperation Department under the MOIT Le Huu Phuc said the ministry pledges to do its utmost to support the work, adding that Vietnam would see its industry sector grow thanks to the project.

Vietnam has enjoyed high industrial growth but added values and technology application rates have remained low, he said, noting that reasonable and feasible policies are crucial to the country to develop its industrial sector with higher added values and competiveness.

Ludovico Alcorta, Director of the UNIDO’s Development Policy, Statistics and Research in Austria , hoped that Vietnam and the UNIDO will work closely to realise the project’s goals.

RoK Consul General to Vietnam Park Sang-shik said the RoK will share its experience in technological development with Vietnam as well as provide full support for the Southeast Asian country to implement the project.

 VNA