Australia enhances funding for reducing CO2 emissions in Vietnam
The grant will support Vietnam in the process of transition to a low carbon economy, social equity and inclusion, and innovation-driven growth.
The grant will support Vietnam in the process of transition to a low carbon economy, social equity and inclusion, and innovation-driven growth.
Only 33% of the total 3.9 million tons of the commonly used plastics disposed of per year in Vietnam are recovered and recycled.
Vietnam’s labor force is projected to contract by almost one percent per annum over the next three decades, creating headwinds to sustaining high economic growth rates.
Vietnam is working on simplifying the ODA management process to speed up disbursement. It hopes ODA providers harmonize their own procedures with local legislation.
It is estimated that 27,000 people in six provinces of Vietnam will benefit from the project’s interventions, 70% of them are elderly.
The country still remains among the fastest-growing economies in East Asia and the Pacific, according to WB.
Vietnam continues to remain an attractive investment destination in the long term.
The speed of economic recovery would largely depend on the scale of the vaccination program, although testing remains a key solution to prevent the spread of the pandemic.
A private sector-led low-carbon economic growth model can enable Vietnam’s goal of becoming a high-income country by 2045.