New Business Hub Supporting Local Clean-Tech Enterprises Launched
The Government of Vietnam, with the Governments of Australia and the United Kingdom and the World Bank Group, recently launched a new business hub supporting local clean-tech enterprises. The Vietnam Climate Innovation Centre (VCIC), the first of its kind in the country, aims to assist 48 clean-tech businesses within its first three years of operations, expanding access to new and improved climate-smart products and services to over 1,700 households.
Vietnam is one of the five countries most vulnerable to climate change. The Government thus sees clean technologies as key to reducing greenhouse gas emissions by 8 - 10 per cent from 2010 to 2020, and a further 1.5 - 2 per cent by 2050. To achieve the country’s goal of 50 per cent of enterprises applying green production techniques by 2020, the World Bank Group’s Climate Technology Programme estimates that Vietnam’s clean technology market will need up to US$19 billion in investment through 2025.
Supported by the Australian Department of Foreign Affairs and Trade and the UK Department for International Development, VCIC will provide financing, mentorship, and advisory services to the growing number of local clean-tech entrepreneurs working in five key sectors: energy efficiency, information technology, renewable energy, sustainable agriculture, and water management.
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