Introduction
The year 2020 is an important year for development cooperation in Vietnam, with the transition of projects financed by ODA being nearly complete. In December 2020, two projects, one in the realm of vocational training, organised by the vocational college of Bac Kan, and the other in the area of efficient water use and agriculture in Cao Bang, were successfully concluded.
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Via its training programmes, the vocational college was able to contribute to the socio-economic development of the province of Bac Kan by providing skilled human resources better equipped to respond to the needs of the labour market. By developing revenue-generating activities, the college is now able to finance itself more and more. Through the VIE/036 project, the management of natural and financial resources based on agricultural production has been improved, while responding to the needs of ethnic minorities and other groups experiencing difficulties. The results achieved relate to access to water and the security of agricultural products. The project’s assistance contributed to the development of infrastructure to modernise irrigation systems, making it possible to increase farmers’ incomes. With regard to the agricultural productivity strand, over 26 km of access roads to the villages were constructed to facilitate access to local and regional markets by producers. This brought social and economic benefits to the communities. Many organic farming training courses were also held.
Priority areas of intervention
- No poverty
- Quality education
- Decent work and economic growth
The last project financed by ODA in Vietnam is designed to support the consolidation of the Vietnamese securities market and the improvement of training capacities. While the country has managed the pandemic well, the government’s containment measures have had a significant impact on the implementation of project VIE/032. Whereas the project had taken a proactive approach in encouraging partners to respond to the crisis pragmatically through online training and remote consultations with international experts, most of the capacity-building, including training intended for the staff of the State Securities Commission (SSC) and actors in the securities market, had to be cancelled or postponed. The following elements were, however, put in place: publication of the code of conduct, and the organisation of a workshop on the subject for members of the Vietnamese Securities Business Association, the official creation of a Development Advisory Board for strategic advice and the development of opportunities for joint action by businesses in Luxembourg and Vietnam, and the organisation of various training sessions.
Despite the current crisis, foreign investors have continued to invest in or transfer production activities to Vietnam. The ongoing project will offer the chance to explore new opportunities in sustainable finance, thus expanding Luxembourg’s stamp on Vietnam’s emerging local market.
Reference data
- Population (MIO): 97.3
- GNI (per resident): USD 7910
- Human Development Index (HDI): 117/189
- Life expectancy: 75.4
- Indicative Cooperation Programme: N/A
Key achievements 2020
- Projects VIE/034 and VIE/036 were successfully concluded in December, with VIE/032 being the last project funded by ODA
- Project VIE/032: Continued support to the SSC for the drafting and publication of decrees, circulars and ordinances to guide the new law, followed by public consultation workshops; development of a code of conduct with details on ethical standards and behaviours and guide to their implementation by securities market practitioners