Park Enna, Director-General for Development Cooperation of MOFAT, and Ho Quang Minh, Head of the Department for External Relations of Vietnam's Ministry of Planning and Investment, held the 6th Korea-Vietnam Official Development Assistance (ODA) Policy Consultation in Hanoi, Vietnam, on the morning of April 21. The two sides discussed policy directions for mid- and long-term development cooperation between Korea and Vietnam. ※ The Korea-Vietnam ODA Policy Consultation has been co-hosted by the Ministry of Foreign Affairs and Trade and the Ministry of Strategy and Finance since 2006. An official from one of the two ministries has led the Korean delegation on an alternate basis.
During the 6th Korea-Vietnam ODA Policy Consultation, Korea and Vietnam had a broad exchange of views on directions for development cooperation in 2011 and the mid- and long-term. Korea explained its plan to pursue development cooperation in connection with the Vietnamese government's Social Economic Development Strategy and Development Plan. Vietnam actively requested the sharing of development experiences between the two countries and the expansion of concessional loans and grants. ※ The Vietnamese government devised the 10-year Social Economic Development Strategy (2011-2020) and the 5-year Development Plan (2011-2015). The government has set a goal of becoming a modern
industrial country by 2012.
In particular, the Korean and Vietnamese governments discussed the "Vietnam Cooperation Strategy 2011-2015," which contains the Korean government's strategies for aid to Vietnam during 2011-2015. The Cooperation Strategy is part of the Korean government's efforts to give more consideration to the situation in the recipient country when providing aid. The Strategy will be finalized in the first half of this year following consultations.
The Korean government will continue to strengthen Korea-Vietnam partnership for mid- and long-term development cooperation so that Vietnam, Korea's major partner for ODA cooperation, becomes an exemplary case of Korea's aid.
Vietnam is a major emerging economy that has recorded an average annual growth rate of over 6% based on the market reform policies launched in 1986, known as Doi Moi. Having received a total amount of $450 million in aid from Korea (concessional loan: $176 million, grant: $274 million) since 1991, Vietnam is Korea's largest partner for ODA cooperation.
Prior to the Consultation, Director-General Park paid a courtesy call on Nguyen The Phuong, Vice Minister of the Vietnamese Ministry of Planning and Investment, on April 21, and reaffirmed the two countries' willingness to closely cooperate in the field of development cooperation.
