A climate innovation center will be set up in Viet Nam to promote climate technology by offering venture finance and other support for small and medium enterprises.
As part of the center design process, a workshop on barriers and solutions to climate technologies was held in Ha Noi yesterday. It was attended by 120 stakeholders in both public and private sectors.
The center will be designed and launched by InfoDev, a global partnership of the World Bank Group and a multi-donor program that supports innovation and technology entrepreneurship in developing countries.
The center would arrive at an opportune time as many environmental companies were asking for more support and funding for their business initiatives, said Huynh Kim Tuoc, vice president of the Viet Nam Environmental Industry Business Association.
Tuoc said environmental technology enterprises in Viet Nam lacked access to consultation and assistance.
Nguyen Van Phung, deputy director of the Tax Policy Department under the Ministry of Finance, said the Government had allotted a very small amount, around 1-2 per cent of its budget, to developing technologies and promoting environmental innovation.
“Most of the money spent is only for research and studies,” Phung said.
Government policies relating to climate technology innovation were not practical and consistent, which was likely to discourage enterprises from such initiatives.