Switzerlandwill provide Vietnam with a non-refundable aid worth 2.43 million USD for implementing the Renewable Energy Development Project (REDP).
Wind power system in Tuy Phong commune, Binh Thuan province (source: VNA)
A bilateral agreement to this effect was signed in Hanoi on May 10 by Deputy Minister of Industry and Trade Hoang Quoc Vuong and Ambassador Beatrice Maser Mallor - Head of Economic Cooperation and Development under Swiss State Secretariat for Economic Affairs (SECO).
Speaking at the signing ceremony, the Swiss Ambassador spoke highly of Vietnam ’s efforts in developing and optimising renewable energy sources and expressed her hope that the aid will support Vietnamese enterprises to take full advantage of investment opportunities in renewable energy sources, such as wind power, solar power or biomass.
Affirming the role of renewable energy in ensuring energy security and mitigating climate change effects, Deputy Minister Vuong expressed his belief that the project will contribute to boosting socio-economic development in the country.
REDP, funded by the World Bank, undertakes three phases, including investing in renewable energy projects, setting up development policy framework, and developing renewable energy projects for the future./.
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