Vietnam: The Saudi Fund for Development (SFD) Chief Executive Officer, H.E. Sultan Al-Marshad, officially inaugurated today in Vietnam, the Ha Nam Vocational College, with the Vice Chairman of Hanam province, alongside officials from both sides.

SFD had previously made a contribution of more than $9 million USD towards the expansion of Ha Nam Vocational College Project, which seeks to become a high-quality vocational training center for the Ha Nam province and the country. The project included the construction and equipping of 10 educational buildings, which benefits over 3000 students yearly, including lecture halls, workshops, and residential buildings for students and faculty members, as well as roads, water, and sanitation services.

The expansion of the vocational college will contribute towards meeting the growing demand of the vocational training and professions in Han Nam and other surrounding provinces, especially in the high-demand sectors of Automotive Technology, Welding, and Industrial Electrical Industry. It will also contribute towards the country's educational and skills requirements, along with providing state-of-the-art practical and theoretical classrooms, ensuring that more young people are employable and empowered to start small businesses after graduation.

In addition to improving the lives of the youth, the college’s inauguration signifies an important event for the country, given that education lies at the heart of socio-economic development.  Moreover, it will contribute towards the achievement of the United Nations' Sustainable Development Goals (SDGs), specifically SDG1, Poverty Eradication, SDG 4, Quality Education, SGD 5, Gender Equality and Women Empowerment, SDG 8, Decent Work and Economic Growth and SDG 10, Reduced Equality.

On this occasion, the CEO of the SFD, H.E Sultan Al-Marshad, said: “Education is the key to unlocking human potential and driving economic growth. Vocational training is a vital part of the education equation, as it provides young people with the skills they need to succeed in the workforce and contribute to their communities. We are proud to support the expansion of Ha Nam Vocational College in Vietnam, which will help to ensure that more young people have access to the high-quality training they need to build a better future for themselves and their country.”

On his part, the Vice Chairman of Hanam province, Mr Tran Xuan Duong, said: “Ha Nam Vocational College Expansion Project inaugurated today, marks a new step in achieving the goal of becoming one of Vietnam's 80 high-quality vocational colleges by 2025. This project contributes to Ha Nam becoming a regional center for high-quality human resource training. We thank the Governments of Vietnam and Kingdom of Saudi Arabia, and the SFD, for their support in completing the project on schedule with high quality.”

SFD believes in the importance of education, which is key to empowering youth around the world. Since the start of its operations over five decades ago, it has contributed more than $2.6 Billion USD to support over 80 educational projects in developing countries worldwide. Education raises competencies, develops skills, and qualifies young people for vital opportunities in their lives and to become the key players in the future of their countries.

Earlier today, SFD’s CEO attended and participated in a high-level development event hosted by the Embassy of the Kingdom of Saudi Arabia in Vietnam led by the Ambassador, H.E. Mohammed Dahlawi. At the event, SFD delivered an overview of all the developmental projects it has funded in developing countries around the world, including Vietnam. High officials from the government of Vietnam, international and UN organizations, and officials from various sectors in Vietnam attended the event. This event was followed by several bilateral meetings to discuss avenues to further the collaboration with Vietnam officials on key developmental projects in Vietnam.

The developmental relations between SFD and Vietnam started back in 2011. Since then, SFD has provided 12 development loans worth over $164 million to finance 12 projects in Vietnam, contributing towards achieving sustainable, social, and economic development across the country. In line with its mission to promote global sustainable development since 1975, SFD has funded more than 800 projects worth around $20 billion USD, in over 100 countries around the world.”

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About the Saudi Fund for Development

The Saudi Fund for Development (SFD) is a government entity that provides soft development loans and grants to finance development projects and programs in developing countries.

Since 1975, SFD has financed over 800 development projects worth US$20 billion in over 100 countries around world across various sectors such as transportation and communications, social infrastructure, agriculture, energy, industry and mining, and others. The projects support generating socio-economic development and help to improve the living standards of disadvantaged communities in countries most in need. SFD's activities are aligned with the international development principles and contribute towards realizing the UN's Sustainable Development Goals. Moreover, it unifies its efforts in development support through partnerships and cooperation with regional and international organizations.

https://www.sfd.gov.sa/en

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