The bilateral partnership agreement as amended will expand the joint efforts to strengthen private sector competitiveness, innovation and startup ecosystems, human capital, and local capacity building.

Speaking about the agreement, USAID/Vietnam mission director Ann Marie Yastishock said, “This agreement reflects the United States’ continued commitment to support Vietnam’s efforts to become a more open, innovative, and inclusive economy. Through close collaboration with the government of Vietnam, we can ensure that USAID’s development assistance will meet our two countries’ mutual vision for a prosperous and independent Vietnam.”

USAID technical assistance under this agreement will enhance the capacity of Vietnamese small and growing businesses, including those led by vulnerable populations, by facilitating access to competitiveness-enhancing technology, business management skills, and capital.

The agreement will strengthen the high-quality human capital needed for a robust knowledge-based economy. USAID technical assistance will also help improve the capacity of participating local governments (provincial level and below) to effectively implement policies, as well as increase interaction between local governments, the private sector, and other stakeholders on issues of local socio-economic development.

Fibre2Fashion News Desk (KD)