South Korea will extend its support for Bangladesh to improve youth employment, road safety and provide market-driven technical skill training.
During the two-day official visit of South Korean Prime Minister Lee Nak-yeon to Bangladesh, a grant agreement and two MoUs were signed between the two governments with regard to this at a function on Sunday.The deals were signed between Korea International Cooperation Agency (KOICA) and Economic Relations Division (ERD).
On the other hand, the grant agreement was signed by Ministry of Expatriates Welfare and Overseas Employment, KOICA and ERD for project ‘Better Employment with Competency-based Skills Training (BEST).
Under it, $8.5 million grant in collaboration with $18 million contribution from SEIP’ will be given. The project is to support improving vocational training quality to build a skilled and market-oriented workforce for economic prosperity in Bangladesh.
Ebne Alam Hasan, Chief Engineer, Roads and Highways Division and Dr Jaeshin Park, Vice President of KOICA signed the MoU for the development of Highways Safety, Capacity Building for RHD officials, and introducing Intelligent Transport Systems (ITS) that will also reduce traffic congestion on the highway.
The MoU also includes developing knowledge sharing programs and business projects for advanced road, transport & bridge design and construction, road safety management, Traffic Management System, and operation of toll road.
The second MoU was signed with Bureau of Manpower Employment and Training (BMET), KOICA and LG Electronics. Md. Salim Reza, Director General of BMET, Dong Kon Son, Managing Director of LG Electronics, Bangladesh Branch and Dr. Jaeshin Park, Vice President, KOICA, signed the agreement.Under this collaboration, LG Electronics will establish the second LG inverter classroom in Chattogram along with equipment supply and installation, provide training to trainers at LG Asia Service Center in Singapore while KOICA will provide technical training support.
The key objective of this MoU is to establish a shared framework for collaboration among the three parties to support developing market demand-driven TVET for Bangladesh young generation ability to participate in the local and overseas job market
The ceremony came to end with the Vice President of KOICA ensuring its continued cooperation to further strengthen the relations between Korea and Bangladesh.