Denmark increases support to private sector in Vietnam

Denmark will increase the support to private sector partnerships to underpin sustainable growth and employment in Vietnam”. The message from Danish Ambassador John Nielsen was clear that morning, June 27, when the Danish Embassy hosted a seminar in Ho Chi Minh City on the importance of Private Sector Partnerships and Corporate Social Responsibility (CSR).

The Danish Business Partnership Programme has since 1997 granted more than USD 74 million to 300 pilot projects and to more than 150 long-term partnerships in Vietnam of which several are still in business after the conclusion of the financial support. Together with the continuation of Business Programme and instruments, Denmark will provide Vietnam with US$90 million in official development assistance (ODA) in 2014-2015. Denmark is still, by far, the biggest provider of grants among all EU member states and accounts for almost 25% of the total grants provided by all EU member states.

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The seminar also focused on Corporate Social Responsibility (CSR) in businesses, including an update for Danish companies and their Vietnamese partners on CSR. “Research from Denmark shows that companies which are creating decent jobs and engages in the well-being of their staff, in many cases are more effective and has a competitive advantage in relation to companies, who do less in this field” concluded Ambassador John Nielsen.

Around 80 Danish companies and their Vietnamese business partners attended the seminar.

Words and photo: Danish Embassy in Hanoi.

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