|A MOU has been signed between VIet Nam and South Korea to assist in the management of Viet Nam's highways. — Photo courtesy of KOICA
HA NOI (VNS) — The Ministry of Transport and the Korea International Cooperation Agency signed a memorandum of understanding (MoU) today to assist in the management of Viet Nam's highway system.
The three-year Enhancing Capacity and Maintenance Management of Viet Nam's Highways project will allocate US$1.5 million in non-refundable funds from the Republic of Korea.
Accordingly, South Korea will provide technical assistance and technological transfers to Viet Nam, as it shares its experience in operating and maintaining the system of highways.
South Korea will also provide Viet Nam with legal consultations in the management of highways in Viet Nam, training courses to strengthen the abilities of officials in the field, and equipment and facilities where needed.
Viet Nam currently maintains six highways with a total length of 300km, with plans to increase the highway system to 2,000km by 2020. To that end, the demand for employees who are capable of operating and managing highways is expected to rise rapidly.
South Korea has also assisted Viet Nam in building road and bridge infrastructures through loans of $1.2 billion, which equals 57 per cent of the total amount the country has committed to loan Viet Nam. - VNS