Environment

Vietnam’s demand for investment in environment remains huge

Vietnam needs more preferential policies to attract foreign investors in the environment as the country’s demand for investment in the field is huge, but the capacity of domestic businesses remains limited, heard a seminar in Ho Chi Minh City on May 9.
Vietnam’s demand for investment in environment remains huge ảnh 1A waste treatment system in Ho Chi Minh City (Source: VNA)

HCM City (VNA) – Vietnam needs more preferential policies to attractforeign investors in the environment as the country’s demand for investment inthe field is huge, but the capacity of domestic businesses remains limited,heard a seminar in Ho Chi Minh City on May 9.

Nguyen Viet Thang, deputy head of theVietnam Environment Administration’s Department of Science Technology andInternational Cooperation, said that Vietnam needs 93 trillion VND (4.07billion USD) to produce environmental equipment by 2020, and the figure willrise to 222 trillion VND (9.7 billion USD) by 2030.

Among 357 Vietnamese firms operating in thisfield, 22 percent want to invest in environmentally friendly technology.

However, the environmental industry has met onlyabout 3 percent of demand for urban waste water treatment, 15 percent of demandfor solid waste treatment and 14 percent for hazardous waste, Thang noted.

Director of the Republic of Korea’s BusanEnvironmental Corporation Seo Hye Sook said the corporation will help Koreanenterprises if they want to invest in Vietnam in the environment.

She also invited Vietnamese businesses toattend an exhibition on environmental technologies to be held in Busan inSeptember to seek investment cooperation.

According to the Ministry of NaturalResources and Environment, the Vietnamese Government has issued manypreferential policies to boost the production of environmentally-friendlyproducts, and the application of environmentally-friendly technologies intransport infrastructure, energy, waste treatment and agriculture.

Vietnam also increased administrative finesto up to 2 billion VND (87,700 USD) per violation act to force enterprises toshift to environmentally-friendly production.

Specifically, investors in the field canenjoy preferential policies on tariff on import of equipment and productiontechnology, and reduction or exemption of corporation tax.-VNA
VNA
#preferential policies#foreign investors#environmental equipment#environmental industry#Vietnam#VietnamPlus#Viet Nam News
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