The United States Agency for International Development (USAID) and Vietnam’s Ministry of Planning and Investment (MPI) on April 21 signed an amendment to their bilateral partnership agreement to expand USAID’s support to Vietnam.

USAID/Vietnam Mission Director Ann Marie Yastishock. Photo: USAID

Speaking at the ceremony, USAID/Vietnam Mission Director Ann Marie Yastishock this agreement reflects the United States’ continued commitment to support Vietnam’s efforts to become a more open, innovative, and inclusive economy.

"Through close collaboration with the Vietnamese Government, we can ensure that USAID’s development assistance will meet our two countries’ mutual vision for a prosperous and independent Vietnam," she added.

The bilateral partnership agreement, once amended, will expand the two sides' joint efforts to strengthen private sector competitiveness, innovation and startup ecosystems, human capital, and local capacity building.

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

USAID technical assistance under this agreement will enhance the capacity of Vietnamese small 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 and 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.