A memorandum of understanding (MoU) on urban and housing development was inked between the Vietnamese Ministry of Construction and South Korea’s Ministry of Land, Infrastructure and Transport (MOLIT) in Ha Noi on July 16th.
Minister of Construction Nguyen Thanh Nghi (R) and Minister of of Land, Infrastructure and Transport Park Sangwoo signed a memorandum of understanding (MoU) on urban and housing development, Ha Noi, July 16, 2024.
According to Minister Nguyen Thanh Nghi, in the past 5 years, the Ministry of Construction of Vietnam and the Ministry of Land, Infrastructure and Transport of Korea have cooperated closely, implemented agreements and achieved many positive results. He also expected that the two ministries will increase the exchange of delegations to improve legal institutions in the field of urban development and housing, especially smart cities and social housing. He suggested the MOLIT continue to promote official development assistance (ODA) projects sponsored by the South Korean Government for Viet Nam while creating favorable conditions for Vietnamese officials to participate in short-term training courses and knowledge sharing programs to improve capacity and strengthen expert network connections.
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Minister Nguyen Thanh Nghi spoke at the signing ceremony.
Both sides should facilitate Korean businesses to implement the Urban Growth Partnership Program (UDPP) for which the Korea Land and Housing Corporation (LH) signed the MOUs with Vietnamese localities; encourage Korean businesses to invest in smart urban development projects and social housing development in Viet Nam.
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Minister Park Sang-woo spoke at the signing ceremony.
Speaking at the signing ceremony, Korean Minister of Land, Infrastructure and Transport Park Sang-woo emphasized the friendly cooperative relationship between Vietnam and Korea recently, and said , in 2023, during the Korean President's visit to Vietnam, the leaders of the two countries discussed future cooperation. During his recent visit to Korea, Prime Minister Pham Minh Chinh said that Vietnam aims to become a high-income country by 2045 and hopes to receive the support from Korean in achieving this goal.
For his part, Park said, the MOLIT hopes to work closely with the Vietnamese Ministry of Construction towards a long-term and sustainable cooperation.
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Overview the signing ceremony.
South Korea stands ready to share experiences and support the Vietnamese side in developing infrastructure, contributing to promoting the nation's economic growth, he stated./.
Minister Nguyen Thanh Nghi and Minister Park Sang-woo and delegates took a photo at the signing ceremony.