Luxembourg pledges to continue providing ODA to Vietnam though the recipient country already reached the middle-income status, according to Luxembourg’s Minister for Development Cooperation and Humanitarian Affairs Marie-Jossée Jacobs.
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Deputy PM Pham Gia Khiem (R) and Luxemburg’s Minister for Development Cooperation and Humanitarian Affairs, Ha Noi, March 2, 2011
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Minister Marie-Jossée Jacobs announced this when meeting with Deputy PM Pham Gia Khiem on March 2 in Ha Noi.
The Luxembourg’s Minister, who is on a working visit to Vietnam, suggested the two sides strengthen cooperative mechanisms for more Luxembourg’s businesses to set footholds in Vietnam and realize the 2011-2015 bilateral cooperation program on tourism, vocational training, hotels building, rural development, finance and banking.
He also revealed that the Luxembourg’s Minister of Economy and Foreign Trade will accompany the Grand Duke on a visit to Vietnam this year in order to spur bilateral economic and trade linkages.
Deputy PM Pham Gia Khiem said that regular reciprocal visits at high-ranking level would generate new momentums for finer and deeper ties and pledged to make a good preparation for the upcoming trip of the Grand Duke of Luxembourg.
He took the occasion to encourage Luxembourg’s investors to engage in their advantageous areas like metallurgy, transportation, tourism, finance and banking in Vietnam.
In the 2006-2010 period, Luxembourg granted € 50 million as non-refundable aid for Vietnam and intends to provide another €42 million in the next five years. Luxembourg is the Europe’s fourth largest investor in Vietnam with 17 projects valued around US $1 billion. The two-way trade value increased swiftly to US $24 million in 2010 from US $19 million in 2009./.