3:16:49 PM | 22/9/2008
Vietnam becomes South Korea’s biggest ODA recipient between 2008 and 2011 as South Korea pledged to provide the Southeast Asian country with a total ODA of US$1 billion in the period.
Under the ODA agreement signed between the two countries mid-Aug this year, South Korea is the second largest ODA for Vietnam during the phase after Japan.
The funding proves South Korea’s goodwill in the cooperation with Vietnam, said South Korean Ambassador in Vietnam, Im Hong Jae.
The ambassador said refundable aids will focus on Vietnam’s areas of roads, transport, telecommunications, ports and human resources development.
He added, meanwhile, the non-refundable aids are used for building vocational training schools, healthcare services and poverty reduction.
South Korea topped foreign investors in Vietnam last year, but it dropped from this position this year, Mr. Im said.
He, however, said that “South Korea will regain the leading FDI investor in Vietnam in the coming years as a series of big projects like Kumho Asian are disbursed”.
Not only big investors but also many small and medium-sized ones from South Korea are flocking to Vietnam, he noted.
According to the ambassador, Vietnam received 475,000 South Korean visitors in 2007 and the figure is expected to reach 60,000 this year.
The Vietnamese Ministry of Planning and Investment said that South Korea has funded US$471.4 million for 16 projects in Vietnam since 1993. (Labor)
Vietnamese
