(VNF) - The Vietnam’s Ministry of Transport and the Korea International Cooperation Agency (KOICA) on May 28th signed a Memorandum of Understanding to enhance the operation and management capacity of the nation’s expressway system.

The USD1.5 million - project, using an ODA loan from the Government of the Republic of Korea, will be carried out within 3 years, starting from 2015.

The Korean side is expected to offer technical support, technology transfer and other valuable experiences for Vietnamese partners, including legal consultancy for expressway network management, studying materials, training courses for officials, and other essential devices.

The Government of the Republic of Korea has pledged to provide USD1.2 billion ODA loan for Vietnam to improve the road infrastructure (accounting for 57% of the total ODA loan), while also offering non-refundable technical supports.

Mr Chang Jae Yun, Chief Representative of KOICA Agency Vietnam said: “Vietnam’s demand for road infrastructure has been increasing in the last years, together with a strong economic growth. Via this project, we do hope to build an efficient mechanism for Vietnamese officials to manage this expressway system”./.

( VNF )