Switzerland will provide Viet Nam with non-refundable aid worth
US$2.43 million to help implement the Renewable Energy Development Project (REDP).

Workers check panels at the 100kW solar power station that provides electricity to 700 ethnic people in Trang Commune in the Central Highlands province of Gia Lai. (Photo: VNS)

The
bilateral agreement was signed yesterday, May 10, in Ha Noi by Deputy Minister of
Industry and Trade Hoang Quoc Vuong and Ambassador Beatrice Maser Mallor – Head
of Economic Cooperation and Development under the Swiss State Secretariat for
Economic Affairs (SECO).

At the
signing ceremony, the Swiss Ambassador spoke highly of Viet Nam’s efforts to
develop renewable energy sources and expressed her hope that the aid will push
Vietnamese enterprises to take full advantage of investment opportunities in
renewable energy sources, such as wind power, solar power and/or biomass.

Deputy
Minister Vuong expressed his belief that the project will help the country
expand its socio-economic development. REDP, which is funded by the World Bank,
will be implemented in three phases, including investing in renewable energy
projects, setting up development policy initatives, and developing renewable
energy projects for the future.

VietNamNet/Viet
Nam News