Swiss to support green energy drive
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Switzerland will provide Vietnam with non-refundable aid worth US$2.43 million to help implement the Renewable Energy Development Project (REDP).
The bilateral agreement was signed yesterday in Hanoi by Deputy Minister of Industry and Trade Hoang Quoc Vuong and Ambassador Beatrice Maser Mallor – Head of Economic Cooperation and Development under the Swiss State Secretariat for Economic Affairs (SECO).
At the signing ceremony, the Swiss Ambassador spoke highly of Vietnam’s efforts to develop renewable energy sources and expressed her hope that the aid will push Vietnamese enterprises to take full advantage of investment opportunities in renewable energy sources, such as wind power, solar power and/or biomass.
Deputy Minister Vuong expressed his belief that the project will help the country expand its socio-economic development. REDP, which is funded by the World Bank, will be implemented in three phases, including investing in renewable energy projects, setting up development policy initatives, and developing renewable energy projects for the future.
