KOICA Signs ROD with Vietnam for Expansion of Social Housing Provision
Korea International Cooperation Agency (KOICA), the lead Korean government agency dedicated to providing grant aid programs, signed a Record of Discussion (ROD) with the Ministry of Construction of Vietnam for expansion of the social housing provision in Hanoi, Vietnam on February 8.
The ‘Project on Establishing Masterplan and Development Strategy for Expansion of Social Housing Provision in Vietnam’ will be lasted from 2018 to 2020 with US$ 3 million from KOICA. It aims to conducts a research on the current social housing and analyze and evaluate related policies, to establish goals and suggest integrative policies on ‘2021-2030 Vietnam Social Housing Policy Development Strategy’, and to support improving the housing law. Beneficiaries are low-income families and industrial complex workers living in the city of Vietnam.
Today, housing demand is increasing due to the Vietnam’s economic growth and urbanization. But the supply is short due to the lack of government’s available finance and the lack of private incentives for existing social housing supply schemes.
“The cooperation between the Ministry of Construction of Vietnam and KOICA will encourage not only the interchange of experiences and know-how between two country but also the sustainable social and economic development of Vietnam,” said the Vice Minister of the Construction Phan Thi My Linh.
Jinoh Kim, the KOICA Vietnam Office Country Director, added that “Through this project, I hope that Vietnam’s social housing development strategy and housing act can be improved and that KOICA and the Ministry of Construction continues to cooperate closely during the project period.
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