Seminar calls for renewable energy development aid VNTimes

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A Senior Vietnamese trade official has called for greater flows ofcapital into the developing economies of APEC including Vietnam forthe development of renewable energy, which is playing a bigger role insustainable socio-economic development in each country as well as theglobe.

Luong Hoang Thai, Head of the Multilateral TradePolicies Department of the Ministry of Industry and Trade, stated hisview at a seminar in Hanoi on June 4.

The event saw theparticipation of financial and banking experts, policymakers andentrepreneurs from Asia-Pacific Economic Cooperation member economies aswell as scholars from the Organisation for Economic Cooperation andDevelopment and the United Nations Environment Programme.

Thetrade official cited the fact that the renewable energy sector isrelatively new to third world countries, including Vietnam. It makesup a modest proportion of total energy supply compared to the 15percent in developed nations.

Meanwhile, the majority of theleast economically developed nations fall short of capital resources tobuild infrastructure, severing the development of renewable energy, hesaid. It will push the underdeveloped countries behind their developedcounterparts, he added.

At the seminar, other discussionstouched upon APEC-related regulations for the development of renewableenergy projects, including its open and transparent investmentmechanisms for the development of a free and open energy market.

Participants took this chance to present their candid opinions andshare experiences in luring funds for such projects, and put forth theirsuggestions on the issue so that APEC will handle it more effectivelyin the time to come.-VNA

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