Korea’s land ministry said Wednesday it has signed a tentative agreement with Vietnam’s construction ministry to cooperate in city and town development projects in the Southeast Asian nation.
Korean Land Minister Park Sang-woo signed a memorandum of understanding with his Vietnamese counterpart, Nguyen Thanh Nghi, on the cooperation on urban and social housing development during his trip to Hanoi on Tuesday, the ministry said.
The ministry said it expects the Vietnamese government to formally establish ways for Korean companies to participate in urban development projects in the country, such the one in the Bac Ninh region and Hanoi’s plan to build 1 million social housing units by 2030.
Nguyen said Vietnam aims to increase its urbanization rate from the current 43 percent to 50 percent by 2030 and expressed hope that Korean companies will actively participate in 토토 Vietnam’s urban and housing development.
Park said Korea’s experience in managing rapid urbanization through new city development and urban redevelopment will serve as a valuable example. He promised to share Korea’s experience and knowledge on land and fund procurement, as well as housing allocation methods, with Vietnam.
The Korean minister also requested cooperation from the Vietnamese construction ministry to facilitate the participation of the Korea Land and Housing Corp. in the Bac Ninh region’s development project.
