Delegates signed the MOU on Wednesday at the Việt Nam’s Posts and Telecommunications Institute of Technology (PTIT). — VNS Photo Ly Ly Cao

HÀ NỘI — The US Department of State, Việt Nam’s Posts and Telecommunications Institute of Technology (PTIT) and VMO Holdings Technology JSC (VMO) on Wednesday signed a memorandum of understanding (MOU) and launched the Coalition for Climate Entrepreneurship (CCE Hub).

The parties agreed to work together to promote start-up activities in the field of climate change by using start-up resources and exploiting technology, thereby minimising climate change and increasing economic growth with clean energy sources.

Speaking at the event, Dorothy McAuliffe, Special Representative for Global Partnerships in the US Department of State, said that the US State Department, along with the hosting and implementing partners, is prepared to use this hub in the coming years to identify sustainability-focused entrepreneurs, convene them in this space, and equip them with the tools and resources they need to scale climate solutions to market.

“We are confident this hub will build upon the momentum of the Comprehensive Strategic Partnership issued between Việt Nam and the US during President Biden’s recent visit as we work together to address the climate crisis,” McAuliffe said.

Trần Quang Anh, Deputy Director of PTIT, hopes that the CCE Hub will create a dedicated creative space designed for creators and start-ups, focusing on sustainable research areas such as clean energy, sustainable agriculture, climate finance, and resilience projects.

The CCE Hub management unit in Việt Nam will strive to be a bridge between the business community and make practical contributions to sustainable environmental development, climate change, and community benefits, he added.

The CCE Hub, located at PTIT, is a dedicated innovation space designed to provide a community space for founders and start-ups. This is the first of its kind in Asia.

The hub's goal is to facilitate the creation of market-viable businesses that pioneer emerging sustainable solutions or innovate existing ones, focusing on sustainability, which includes clean energy, sustainable agriculture, climate finance, climate resilience and adaptation, and recovery projects.

“The project will help raise awareness of climate issues among Vietnamese people, especially the youth. And even though we have to invest a lot at the moment, the economic potential of the project is huge”, Quang Anh told Việt Nam News.

Earlier this month, Việt Nam and the US announced the establishment of a Comprehensive Strategic Partnership for peace, cooperation, and sustainable development. The two countries' relationship was upgraded during the state visit of President Biden to Việt Nam.

The president applauded Việt Nam’s climate commitments under its Just Energy Transition Partnership (JETP), as well as the country’s 2050 net-zero greenhouse emissions target. — VNS