Switzerland provides US$3.3 million to promote Việt Nam's circular economy

November 18, 2024 - 13:54

The Ministry of Planning and Investment has received US$3.3 million in funding from the Swiss State Secretariat for Economic Affairs (SECO) to promote a circular economy and mitigate climate change impacts.

Phú Mỹ 3 Specialised Industrial Park, Phú Mỹ town, Bà Rịa-Vũng Tàu Province. — VNA/VNS Photo

HÀ NỘI — The Ministry of Planning and Investment has received US$3.3 million from the Swiss State Secretariat for Economic Affairs (SECO).

The money will support industrial parks in transitioning to cleaner production models, reducing greenhouse gas emissions and waste, and enhancing resilience to climate change, according to Deputy Minister Đỗ Thành Trung.

The initiative will also foster a circular economy and encourage waste recycling. It aims to protect the environment, strengthen business competitiveness and contribute to building a sustainable and green Việt Nam.

The announcement was made during the signing ceremony for the project document themed ‘Scaling up eco-industrial park approaches to promote a circular economy in Việt Nam’.

It was held by the Ministry of Planning and Investment and the United Nations Industrial Development Organization (UNIDO).

Trung also expressed Việt Nam’s interest in deepening collaboration with Switzerland in areas including technology, finance and sustainable urban development.

This cooperation will enhance Việt Nam’s competitiveness, foster innovation and pave the way for a modern green economy.

To meet the objectives outlined in the 2021-2030 Socio-Economic Development Strategy, Việt Nam is focusing on institutional improvement, training high-quality human resources and investing in synchronised infrastructure.

Over the past 30 years, Switzerland has provided nearly $687 million in support to Việt Nam through SECO, primarily focusing on economic development and competitiveness enhancement.

Switzerland ranks among Việt Nam’s top 20 foreign investors, with over $2.1 billion invested. The investment capital focuses on medium and large-scale projects, mainly in the processing industry concentrated in industrial parks. — VNS

Tags Vietnam Switzerland diplomatic relations cooperation circular economy circular economy recycling waste institute

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