UNIDO Supports Vietnam’s Industrial Development Strategies

Vietnam’s Ministry of Industry and Trade (MOIT) and the United Nations Industrial Development Organization (UNIDO) have launched a project to support the government of Vietnam’s building industrial development strategies. The project costing $1.1 million would be implemented in three years with an aim to improve the quality of industrial development strategies and policies to increase the local industry’s competitiveness. The South Korea would provide the funding via UNIDO, while Vietnam would offer reciprocal capital of $100,000. Speaking at a launch ceremony, Le Huu Phuc, head of the MOIT’s international cooperation department said that the ministry pledged to support the work. However, the added value and technology application rates remained low, Phuc said. Consul general to Vietnam Park Sang-shik said his country would share its experience in technological development with Vietnam and provide full support for Vietnam to implement the project. (Vietnam News June 20 p13)