Luxembourg's development cooperation - Annual report 2017

The progress made by Vietnam in development terms over the years has been considerable, such that the country’s status was changed in 2011 to a middle-income country. In the light of Vietnam’s development progress, the ICP III (2011-2015) was the last ICP to be set up and implemented between Luxembourg and Vietnam.

In 2017, Luxembourg was implementing the exit strategy of Luxembourg’s development cooperation in Vietnam, based on mutual exchange, the pursuit of common interests and the exploration of new avenues for the future relations between the two countries. Luxembourg and Vietnam signed a new general cooperation agreement in 2017, which takes the cooperation forward with different actors and sectors in order to diversify the relationship between the two countries.

Nonetheless, the bilateral and multilateral projects started as part of the 3rd ICP will be further consolidated in 2018-2019. Some new diversification projects are under way in the sectors of development and local innovation, research, finance and vocational training.