Int'l Cooperation

Last updated: Tuesday, March 26, 2019


Vietnam, Denmark Strengthening Comprehensive Partnership

Posted: Wednesday, October 26, 2016

Recently, in Hanoi, the Ministry of Planning and Investment organised the 5th meeting of the Vietnam - Denmark Joint Governmental Cooperation Committee within the framework of the Vietnam-Denmark Comprehensive Partnership Action Plan. The meeting aimed to promote comprehensive cooperation between Vietnam and Denmark.
According to Minister of Planning and Investment Nguyen Chi Dung, as of now, Denmark has provided ODA of up to US$1.32 billion for some projects in Vietnam. 70 percent of the ODA projects have good level of disbursement. The projects funded by Denmark are generally effective, contributing to the economic development of the areas where they are located. "The Government of Vietnam wishes Denmark to continue to be an important partner towards specific targets, to meet the requirements to support the process of fast and sustainable economic growth of Vietnam," Minister Nguyen Chi Dung said.
According to Minister Nguyen Chi Dung, the rapid development of economic and trade relations between Vietnam and Denmark has recently been noted, especially since the two countries became comprehensive partners in 2013 and the signing of specific action plans for 2014-2015 and 2016. The importance of the Vietnam-EU Free Trade Agreement to further promote cooperation in trade and investment between the two countries was also emphasised at the meeting. Denmark currently ranks 26/112 countries and territories investing in Vietnam with 128 projects, with a total capital of US$632 million. The investment projects of Denmark in 17 provinces and cities focus primarily on processing, manufacturing, transportation and warehousing.
The two sides also reached agreement on a roadmap for harmonisation of procedures to further promote Danida Business Finance Programme in Vietnam and to fund projects with appropriate scale, using Denmark’s technology and modern techniques. In addition, there has been the cooperation between the ministries and agencies of Vietnam and Denmark in the fields of environment, food, health and education.
According to Minister of Foreign Affairs of Denmark, Mr Kristian Jensen, Denmark always appreciates and actively promotes cooperation with Vietnam, especially in the fields of economics, trade and investment. The results are remarkable, but now the two countries should take the initiative in order to further expand the scale of cooperation, through business assistance activities and direct investments on the basis of exploiting each others' strengths. Also according to Kristian Jensen, Vietnam is a key player in the broader Asian market. Vietnam is an attractive place for not only manufacturers but also consumer goods distributors. With the above advantages, a lot of investors in the world, including those from Denmark, are interested in Vietnam.
Mr Dung affirmed that in a spirit of cooperation through Joint Governmental Cooperation Committee mechanism, both sides believe that economic and trade cooperation between Vietnam and Denmark will continue to further develop and contribute to the successful implementation of the Action Plan of the Comprehensive Partnership Agreement, to which both sides have committed. Vietnam pledged to continue to use effectively the non-refundable subsidies and other preferential loans to have additional resources to perform tasks, especially the issues Vietnam is facing such as climate change, sustainable growth, poverty reduction, infrastructure issues as well as poor regions.
Anh Phuong

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