The US announced a $36-million project to help Vietnam develop clean energy

August 26, 2021 | 11:55
The US government announced the Vietnam Low Emission Energy Programme II (V-LEEP II), a five-year, $36-million project which aims to accelerate Vietnam’s transition to a clean, secure, and market-driven energy system.
The US announced a $36-million project to help Vietnam develop clean energy
The US announced to help Vietnam develop clean energy

The project led by US Agency for International Development (USAID) will work to improve government energy planning, increase competition to encourage the US private sector's involvement, and increase clean energy systems. The project will help Vietnam scale up the adoption of electric motorbikes and implement the Direct Power Purchase Agreement (DPPA) mechanism to allow businesses to procure electricity directly from private firms producing renewable energy.

The project is part of several initiatives announced during the visit of American Vice President Kamala Harris to Vietnam. According to the White House, the American vice president and the Vietnamese government, as well as civil society leaders, agreed on the importance of combatting the climate crisis, increasing resilience, and collaborating towards a clean energy future.

Leveraging the private sector in climate action, USAID and the Vietnam Chamber of Commerce and Industry (VCCI) signed an MoU to boost Vietnam's competitiveness, expand market opportunities for US companies, and strengthen Vietnam’s environmental policy.

This MoU with VCCI will improve the focus on sustainability, green technology, and climate change combatting. USAID also intends to support VCCI in developing a green index to help US businesses select provinces that are investing in green operations.

Through USAID, the US government launched the Mekong Coastal Habitat Conservation project, a new three-year, $2.9-million project with the International Union for Conservation of Nature aiming to protect key coastal habitats in the Mekong Delta region for sustainable fisheries, climate change adaptation, and biodiversity conservation.

The US government also welcomed that Vietnam is joining the Agricultural Innovation Mission for Climate (AIM4C), an initiative announced at President Biden’s Leaders’ Summit on Climate that will be launched at COP-26 in November. AIM4C participants will work together to accelerate global agricultural innovation and the adoption of climate smart technologies. Together, the US and Vietnam, along with other global partners, can address shared climate challenges and create innovative solutions to improve food security and drive economic growth around the world.

By Thanh Van

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