USAID-supported projects to help Vietnam reduce impact of natural disasters hinh anh 1Houses are seen submerged up to roof by the floods in Minh Hoa commune, the central province of Quang Binh in October. (Photo: VNA)

Hanoi (VNA) – Vietnam is among the countries selected by the US Agency for International Development (USAID) for private sector engagement (PSE) pilot projects to advance innovative solutions to reduce the risk and impact of natural disasters, the US Embassy in Vietnam announced on December 3.

Other beneficiaries from the projects are Indonesia and the Caribbean countries.

These projects are aimed at helping the humanitarian community better understand how the private sector can invest in projects that mitigate the risk of disasters; increase businesses’ participation in community disaster preparedness plans and policies; help reduce the social and economic impacts of disasters; and support communities’ efforts to recover and rebuild after disaster strikes.

These USAID-supported pilot programmes will help countries develop stronger relationships with private sector actors and develop mutually-beneficial projects that strengthen entire communities’ disaster resilience.

In Vietnam, the Asia Foundation, in partnership with ISET International, the Vietnam Chamber of Commerce and Industry (VCCI), and the Vietnam Institute for Development Strategy (VIDS) under the Ministry of Planning and Investment, will bring together key private sector, local government, and civil society actors to collaboratively design and launch multi-stakeholder pilot projects to strengthen flood mitigation efforts and improve water network management in the coastal city of Quy Nhon in the south central province of Binh Dinh.

Private Sector Engagement (PSE) is a strategic approach to international development through which USAID consults, strategizes, aligns, collaborates, and implements with the private sector for greater scale, sustainability, and effectiveness of development or humanitarian outcomes./.