03 January 2024, VN: The proposals for agricultural collaboration put forth by Minister Le Minh Hoan were met with a positive response from the Korean International Cooperation Agency (KOICA).
Over the past 30 years of diplomatic ties, Vietnam and Korea have elevated their relationship to a comprehensive strategic partnership status, witnessing remarkable developments in various sectors such as trade, investment, culture, education, and agriculture and rural development. In 2022 alone, the import-export turnover of agricultural, forestry, and fishery products between the two nations reached an impressive 2.93 billion USD.
Korea stands out as the largest investor in Vietnam, boasting over 9,000 investment projects and a cumulative investment capital exceeding 72 billion USD. Regarding trade, Korea is Vietnam’s third-largest trading partner, with bilateral trade reaching a substantial 96.1 billion USD in 2022.
The representative office of KOICA has been operational in Vietnam since 1994 and is dedicated to implementing technical cooperation and grant aid activities on behalf of the Korean Government. The focus areas include construction, human resource development, improving people’s quality of life, developing rural and remote areas, and institutional building, emphasizing transitioning to a market economy and contributing to hunger eradication, poverty reduction, and overall socio-economic development.
As the collaboration between Vietnam and Korea continues to evolve, the proposals from the MARD serve as a testament to the commitment to furthering mutual interests and fostering sustainable development between the two nations. The positive reception from KOICA suggests a promising avenue for expanded cooperation and shared successes in agricultural development.
Minister Le Minh Hoan conveyed the MARD’s gratitude to KOICA for its unwavering support in endorsing the program “Building a Medium- and Long-Term Cooperation Vision between Vietnam and Korea for the Agricultural Sector in 2023-2030.” This initiative holds significant practical value, catalyzing the sustainable development of Vietnam-Korea agricultural cooperation. KOICA has been instrumental in proposing and assisting Vietnam across various domains, including information technology, education, health, culture, and rural development.
“To achieve the remarkable successes we have witnessed, Vietnam’s agricultural sector owes much to our international friends’ cooperation and practical assistance. The support and efficacy provided by the Korean Government through the Korea International Cooperation Agency (KOICA), particularly in programs and projects aimed at enhancing capacity, technology transfer, and fostering trade exchanges in agriculture, forestry, and fisheries, have been invaluable,” highlighted the Minister.
Building on these achievements, the head of the MARD proposed a strategic focus on diversifying the types of cooperation between the two nations. To this end, the Ministry has shared three comprehensive projects with KOICA for thorough review and approval. Significantly, these proposals have received a Letter of Support from the Ministry of Planning and Investment of Vietnam from 2024 to 2026.
These projects underscore the commitment of both nations to exploring new avenues of collaboration, aiming further to enrich the already robust partnership between Vietnam and Korea. As the agricultural landscape continues to evolve, these initiatives are poised to contribute substantially to both countries’ continued success and mutual benefit.
The three proposed projects, carefully crafted by the MARD, aim to address crucial aspects of sustainable development in Vietnam, and their significance has been duly recognized by Vice President Lee Yun-young. The first project, “Improving Awareness and Capacity for Natural Disaster Prevention and Control for Children in Vietnam,” seeks to empower children and communities by enhancing their understanding of the risks associated with natural disasters and climate change. The ultimate goal is to equip children with the knowledge to protect themselves effectively.
The second project, “Technical Support for the Development of Sustainable Forestry and Low-Emission Forestry in Vietnam,” aligns with the Glasgow Declaration on forests and land use. This initiative aims to elevate the forestry sector’s contribution to achieving net-zero emissions by 2050. Simultaneously, it enhances livelihoods and creates sustainable income streams for forest owners, reinforcing the commitment to environmental conservation and community well-being.
The third project, “Supporting the Development of the Forest Carbon Credit Market,” seeks to lay the groundwork for policy change, enhance capacity to promote the forest carbon market’s development, and increase income for Vietnam’s people and forest owners. By tapping into carbon credits, this initiative represents a proactive approach to environmental sustainability while fostering economic opportunities for local communities.
Vice President Lee Yun-young assured that KOICA is diligently reviewing the project documents and expressed hope that Minister Le Minh Hoan will guide relevant agencies to coordinate effectively with KOICA for the timely and successful implementation of these projects. Mr. Lee Yun-young emphasized KOICA’s commitment to supporting the MARD in enhancing the competitiveness and capacity of relevant stakeholders, thereby contributing to the sustainable development of Vietnam’s agricultural sector and its active participation in the global value chain
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