Vietnam, Luxembourg sign new General Cooperation Agreement    
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Vietnam, Luxembourg sign new General Cooperation Agreement
Nov 15 2017

Vietnam’s Minister of Planning and Investment Nguyen Chi Dung and Luxembourg’s Minister of Cooperation and Humanitarian Action Romain Schneider signed a new General Agreement on Cooperation in Hanoi on November 14.

At the signing ceremony, Minister Dung highlighted the significant contribution of non-refundable Official Development Assistance (ODA) offered by the Luxembourg Government to Vietnam’s important and prioritized fields over the past two decades.

Mr. Dung said the development cooperation program between Luxembourg and Vietnam began in the 1990s. Since the first framework agreement on bilateral cooperation was signed in 1995, Luxembourg has granted €124 million non-refundable ODA to Vietnam through three cooperation programs between the two governments.

Projects using Luxembourg’s non-refundable ODA have paid off, actively contributing to Vietnam’s socio-economic development, said Mr. Dung.

Minister Schneider in turn said that in the context of Vietnam pursuing continued development, Luxembourg hopes to diversify bilateral ties beyond the traditional relations between a donor and an ODA recipient, and to set up a bilateral partnership in the spirit of mutual exchange and mutual benefits.

The new cooperation agreement may include different fields like climate change, energy, medical research, finance and banking, said Mr. Schneider.

The signing of the agreement demonstrates Luxembourg’s ongoing commitment to supporting Vietnam’s development goals, helping to promote a development cooperation partnership between the two countries, said Mr. Schneider.