RoK provides Vietnam with 6.4 million USD to promote energy efficiency

The information was announced at the conference on promoting energy efficiency investment market in the industrial sector and supporting the national green growth action plan of Vietnam which was held in Hanoi on April 20.

According to the Ministry of Industry and Trade, economical and efficient use of energy is the top priority solution in ensuring energy security, reducing greenhouse gas emissions and implementing Vietnam’s green growth action plan.

Industry is the sector that consumes the most electricity, accounting for over 50% of total electricity consumption. The sector is also said to have lots of room for energy saving, with forecasts set as about 25-30%.

The Ministry of Industry and Trade and the RoK Government have had many cooperation activities to promote economical and efficient use of energy.

The project on promoting energy efficiency investment market in the industrial sector and supporting the national green growth action plan of Vietnam will be conducted in the 2021-2025 period with 6.4 million USD funded by the RoK Government through the Korea International Cooperation Agency (KOICA).

The Department of Energy Saving and Sustainable Development under the Ministry of Industry and Trade and the Department of Science, Education, Natural Resources and Environment under the Ministry of Planning and Investment will also participate in the project.