Switzerland aids over US$3.34 million to develop circular economy in Vietnam

At the recent signing ceremony of the project document on replicating the eco-industrial park approach to promote circular economy in Vietnam, Trung said that this funding will facilitate the replication of the eco-industrial park (EIP) model nationwide based on successes in the 2014-2024 period, promote circular economy in the industrial sector and in IPs, minimise the impact of production activities on the environment, and support IPs in responding to climate change.

The signing ceremony marks an important step forward for Vietnam in promoting and replicating approaches to EIPs, contributing to enhancing the position and sustainable development of this model nationwide, he affirmed.

The project will help expand the implementation of eco-industrial zones, focusing on improving the efficiency of resource use, minimising waste, promoting recycling, improving the socio-economic, and environmental efficiency of enterprises, thereby contributing to sustainable and comprehensive industrial development, added the official.

The deputy minister appreciated Switzerland's contributions to Vietnam in terms of official development assistance (ODA) and foreign investment. Regarding ODA, since 1992, through SECO, Switzerland has supported Vietnam with nearly CHF630 million (US$709 million).

In the cooperation programme between Switzerland and Vietnam for the 2021-2024 period, Switzerland committed to providing about CHF70 million (US$79 million), with two major orientations of promoting the formation of a healthy economic framework and market orientation, and enhancing the competitiveness and market access of the private sector.