A conference on the development of energy efficiency projects took place in Ho Chi Minh City on October 1.

KOICA Country Director for Vietnam Kim Jin-oh speaks at the conference 

The event was part of the project “Promoting Investment Market for Energy Efficiency in Industrial Sector in Vietnam”, which is sponsored by Republic of Korea (RoK).

 It is launched by the Korea International Cooperation Agency (KOICA) and the Energy Efficiency and Sustainable Development Department under Vietnam’s Ministry of Industry and Trade.

 Since November 2017, the project has reaped fruitful results and provided direct technical assistance to energy service providers and Vietnamese officials in energy efficiency.

 After evaluating energy-saving technologies in more than 2,400 businesses, it has chosen 10 firms which will conduct energy accounting under the supervision of RoK energy experts.

 KOICA Country Director for Vietnam Kim Jin-oh said the project has entered the third phase, lasting until 2030. With the support of RoK experts, Vietnamese firms are projected to invest 200,000 USD and save up about 78,000 USD annually, while cutting down 600,000 tonnes of carbon dioxide per year.

 He added that the RoK agency is eager to contribute to the realisation of Vietnam’s energy efficiency targets set by the Government.

 The project also sees the participation of commercial banks, which will funnel capital for businesses to launch energy efficiency projects.