Canada Announces $30M Grant to Vietnam’s Development Projects

The Canadian government has decided to provide a grant of CAD40 million ($30 million) to help Vietnam realize its development projects towards sustainable and inclusive growth, announced Canadian Minister of International Development Admed Hussen.

Speaking at a press meeting on January 8, part of his ongoing trip to Vietnam, Mr. Admed Hussen said that the sum would be channeled to projects to improve the socio-economic conditions of vulnerable groups, including ethnic minority women in the agricultural sector.

Part of the funding will be dedicated to addressing the devastating impact of climate change, from weather damage to crops to erosion facing coastal communities, he said.

The official also affirmed that Vietnam holds a central position in Canada’s Indo-Pacific strategy, hoping that Canada will promote free trade agreements with countries in the region.

Canada is Vietnam’s third largest trading partner, while Vietnam is Canada’s largest trading partner in ASEAN, with a two-way trade turnover in 2023 of $6.17 billion. Canada is Vietnam’s 14th largest investor, with 247 projects valued at more than $4.82 billion.

(Thanh Nien, Dang Cong San, VnExpress, Dan Tri, VOV World, Vietnam Plus, Soha)