RIYADH: The CEO of the Saudi Fund for Development (SFD), Sultan Al-Marshad, inaugurated a significant vocational college expansion project in Vietnam’s northern province of Ha Nam on Monday. The project, backed by more than $9 million in funding from the Saudi Fund for Development, aims to construct and equip 10 educational buildings, benefiting approximately 3,000 students annually, according to the Saudi Press Agency.
The vocational college expansion initiative in Ha Nam includes state-of-the-art lecture training halls equipped with the latest technology, along with residential facilities for both staff and students. Additionally, the project encompasses essential upgrades to road infrastructure, water supply, and sanitation services in the region.
With the rising demand for vocational training in Ha Nam and neighboring provinces, the project’s primary goal is to empower students, enabling them to secure employment opportunities or initiate their own businesses. Moreover, the initiative aligns with sustainable development objectives, addressing issues related to poverty, equality, and economic growth. The expansion project underscores the importance of education in fostering human potential and driving economic development.
Speaking at the opening ceremony, Sultan Al-Marshad emphasized the significance of vocational training as a vital aspect of education, helping young individuals enhance their skills and contribute to economic growth. He expressed pride in supporting the vocational college expansion, emphasizing its role in shaping a prosperous future for the youth.
#Vietnam | #SFD CEO, Mr. Sultan Al-Marshad, officially inaugurated today, Ha Nam Vocational College, with the Vice Chairman of Hanam province, Mr Tran Xuan Duong, alongside officials from both sides. SFD had previously made a contribution of more than $9 million USD towards the… pic.twitter.com/UhYN1rfOV4
— الصندوق السعودي للتنمية (@SaudiFund_Dev) November 6, 2023
Saudi Fund for Development’s Support for Educational Projects
The Saudi Fund for Development has actively supported over 80 educational projects globally, with a total value of $2.6 billion. The fund’s contributions have extended to various sectors, making a significant impact on infrastructure development and education in multiple countries. In Vietnam alone, since 2011, the SFD has provided loans exceeding $164 million for 12 development programs, focusing on areas such as transport, communications, and social infrastructure.
During the event organized by the Saudi Embassy in Vietnam, the SFD’s pivotal role in supporting Vietnamese infrastructure projects was highlighted. Vietnamese Deputy Minister of Planning and Investment, Tran Quoc Phuong, expressed gratitude for the Kingdom’s contributions and emphasized the importance of mutual cooperation for prosperous and sustainable development.
The event also featured an SFD pavilion, showcasing the fund’s extensive activities in Vietnam and worldwide. To date, the SFD has successfully implemented over 800 development projects, with a combined value approaching $20 billion, in more than 100 developing countries since its establishment in 1974.
