HÀ NỘI — The United States Agency for International Development (USAID) and Việt Nam's Ministry of Planning and Investment (MPI) signed an amendment to their bilateral partnership agreement to expand USAID’s support to include local capacity development.

The amended agreement will expand joint efforts to strengthen private sector competitiveness, innovation and start-up ecosystems, human capital, and local capacity building.

Under this amended agreement, USAID's contribution in these areas will increase from US$42 million to up to $100 million, and will continue for an additional three years, to September 30, 2028.

USAID Việt Nam Mission Director Ann Marie Yastishock said: “This agreement reflects the United States’ continued commitment to support Việt Nam's efforts to become a more open, innovative, and inclusive economy. Through close collaboration with the Government of Việt Nam, we can ensure that USAID’s development assistance will meet our two countries’ mutual vision for a prosperous and independent Việt Nam."

USAID technical assistance will enhance the capacity of Vietnamese small and growing businesses, including those led by vulnerable populations, by facilitating access to competitiveness-enhancing technology, business management skills, and capital.

The agreement will strengthen the high-quality human capital needed for a robust knowledge-based economy.

USAID technical assistance will also help improve the capacity of participating local governments (provincial level and below) to effectively implement policies, as well as increase interaction between local governments, the private sector, and other stakeholders on issues of local socio-economic development. — VNS