Vietnam and South Korea Enhance Cooperation in Social Housing Development
Hanoi, The Gulf Observer: Minister of Construction Nguyễn Thanh Nghị of Vietnam held talks with Minister of Land, Infrastructure and Transport of the Republic of Korea (RoK) Park Sanwoo in Hanoi on July 16. During the meeting, the two ministers signed a memorandum of understanding (MoU) to strengthen cooperation between their ministries in urban and social housing development.
Minister Nghị expressed his confidence that the MoU will foster more substantive and effective collaboration between the two ministries, contributing significantly to the growth of the comprehensive strategic partnership between Vietnam and South Korea.
The discussions provided an opportunity for both sides to evaluate the achievements of their cooperation since the initial MoU was signed in March 2018. They also discussed future development orientations for Vietnam, particularly in the construction sector, reaching consensus on the key areas of cooperation moving forward.
Over the years, the ministries have maintained regular exchanges of delegations and shared information and experiences. They have also implemented Korean ODA-funded projects, such as the establishment of the Vietnam-Korea Cooperation Centre (VKC) for Smart City and Construction Technology, and a technical support project aimed at enhancing Vietnam’s urban development planning and management capacity through the development of an urban planning and development information system (UPIS).
In addition, both sides have collaborated to send experts from the Korea Land and Housing Corporation (LH) to the Ministry of Construction, facilitating knowledge and experience sharing in social housing development.
Minister Nghị suggested increasing delegation exchanges to share experiences in institutional improvements in social housing development. He also urged the RoK’s Minister of Land, Infrastructure and Transport to expedite Korean ODA-funded projects, particularly in smart urban areas and social housing.
Both sides pledged to create favorable conditions for Korean firms to implement the Urban Growth Partnership Programme (UDPP). Under this program, LH has signed cooperation agreements with several Vietnamese localities, including Bắc Ninh, Bắc Giang, Hưng Yên, Thanh Hóa, and Bình Dương. They will encourage Korean companies to engage in smart urban development and support them in implementing social housing projects in Vietnam, aligned with the scheme to build at least 1 million apartments for low-income earners and workers in industrial parks from 2021 to 2030.
Minister Nghị also requested that the RoK share its experience with his ministry to aid in the drafting of a Law on Urban Development.
Minister Park reaffirmed his ministry’s commitment to a long-term and sustainable partnership with Vietnam’s Ministry of Construction. He highlighted South Korea’s urbanization rate of 90 percent and expressed willingness to share the country’s experience, knowledge, and technologies in social housing development with Vietnam.
This MoU marks a significant step in enhancing the strategic partnership between Vietnam and South Korea, particularly in the fields of urban and social housing development.
