S.Korea to Provide $3B ODA for Vietnam Next Five Years

The South Korea government will provide $3 billion in official development assistance (ODA) for Vietnam in the 2011-2015 period, 2.5 time higher than the figure in 1996-2010, New Ambassador Ha Chan Ho said at a press briefing in Hanoi June 8.
“Vietnam is still one of the largest recipients from the South Korea though it has become joined the group of middle income earners”, Ho said, adding that Vietnam still needs capital for infrastructure development, so the South Korean government will continue providing ODA for Vietnam.
South Korea has devised an ODA strategy to help Vietnam achieve sustainable growth, train human resources, improve traffic infrastructure, and develop rural areas in the next five years, the official noted.
In 2011, South Korea plans to provide Vietnam with an aid package worth $215 million for a number projects, including those to equip Danang hospital, build a solar energy plant in Quang Binh, and upgrade the water supply and drainage system in Long Xuyen.
It became the Vietnam’s second largest ODA donor with a total approved amount of $1.255 trillion last year.
In the past, South Korean firms’ operations have always provided social benefits in fields such as health, education and employment, he said, adding that in 2010, the companies organized 32 social charity activities despite economic difficulties.
South Korean companies have to date invested a total of $22.6 billion in 2,759 projects in Vietnam, ranking the third among investors in the communist nation. (Quan doi Nhan Dan – People’s Army Jun 9 p7, Hanoi Moi – New Hanoi Jun 9 p8, vovnews.vn Jun 8)