Switzerland grants $91m ODA for VN

Wednesday, Oct 12, 2016 08:49

Switzerland will grant 90 million Swiss franc (US$91.16 million) to Viet Nam, focusing on economic development co-operation over the next four years. — Photo cand.com.vn
HA NOI (Biz Hub) — Switzerland will grant 90 million Swiss franc (US$91.16 million) to Viet Nam, focusing on economic development co-operation over the next four years, Swiss State Secretary for Economic Affairs Marie-Gabrielle Ineichen Fleisch said yesterday.

Fleisch pledged the official development assistance (ODA) as she launched Switzerland's Development Co-operation Strategy 2017-2020 for Viet Nam, in Ha Noi, together with Deputy Minister of Planning and Investment Nguyen The Phuong.

The Swiss State Secretariat for Economic Affairs (SECO) will implement the aid.

SECO said in a press release that it will concentrate support on three areas: fostering effective economic policies and institutions, creating a competitive and resource efficient private sector, and enabling sustainable and climate resilient urban development.

Its core fields of work are related to public financial management, financial sector strenthening and access to finance for small- and medium-sized enterprises, as well as the promotion of environmental and social sustainability standards.

Other key fields involved are in resource efficient and clean production, framework conditions for sustainable trade and an efficient business enabling environment, besides intergrated urban planning and access to reliable public services.

"Switzerland will continue to support your country to attain inclusive and sustainable growth that improves the life of citizens," said Fleisch. "We expect that our longstanding collaboration with Viet Nam will continue to work successfully on the socio-economic reform agenda ahead."

"All the ODA projects funded by Switzerland have positively impacted on Vietnamese agencies, institutions and local people, contributing to poverty reduction and the socio-economic development of Viet Nam," said Phuong.

Switzerland began granting ODA to Viet Nam in 1992. It has committed 467 million Swiss francs to Viet Nam's socio-economic development and reform agenda, and disbursed the capital through SECO and the Swiss Agency for Development and Co-operation (SDC).

The press release said Switzerland will adjust its ODA focus, based on Viet Nam's fast socio-economic development and significant achievements in pursuing the Millennium Development Goals, especially in reaching a middle-income country status.

Switzerland will phase out SDC's bilateral poverty reduction and governance programme, while continuing SECO's substantial engagement in economic development co-operation.

Yesterday, Fleisch visited a business registration office in Ha Noi, where she heard that Swiss assistance along with efforts of other international organisations has helped reduce the local statutory time-limit for business registration from 15 days before 2010 to three days in 2015.

SECO is part of the Swiss Federal Department of Economic Affairs, Education and Research. Its economic co-operation and development division is responsible for planning and implementing activities with middle-income developing countries in Europe. — VNS

Comments (0)