HCM City (VNA) – A conference onthe development of energy efficiency projects took place in Ho Chi Minh City onOctober 1.

The event was part of the project “PromotingInvestment Market for Energy Efficiency in Industrial Sector in Vietnam”, whichis sponsored by Republic of Korea (RoK).

It is launched by the Korea InternationalCooperation Agency (KOICA) and the Energy Efficiency and SustainableDevelopment Department under Vietnam’s Ministry of Industry and Trade.

Since November 2017, the project has reapedfruitful results and provided direct technical assistance to energy serviceproviders and Vietnamese officials in energy efficiency.

After evaluating energy-saving technologiesin more than 2,400 businesses, it has chosen 10 firms which will conduct energyaccounting under the supervision of RoK energy experts.

KOICA Country Director for Vietnam KimJin-oh said the project has entered the third phase, lasting until 2030. Withthe support of RoK experts, Vietnamese firms are projected to invest 200,000USD and save up about 78,000 USD annually, while cutting down 600,000 tonnes ofcarbon dioxide per year.

He added that the RoK agency is eager tocontribute to the realisation of Vietnam’s energy efficiency targets set by theGovernment.

The project also sees the participation ofcommercial banks, which will funnel capital for businesses to launch energyefficiency projects./.