On November 9, 2007 the Embassy hosted a seminar on CDM projects in the cement industry together with VinaCement, the Vietnamese consultancy company RCEE, and the Danish consultancy company Viegand Maagøe. More than 70 representatives of the Vietnamese cement industry participated at the seminar at Daewoo Hotel, Hanoi. The purpose of the seminar was to inform key stakeholders in the cement industry on the opportunities for making CDM projects within the cement industry presenting the interesting perspectives of saving energy, reducing CO2 emissions and to earn money from selling emission reductions to companies in countries that have obligations to reduce their CO2 emissions under the Kyoto Protocol. Ambassador Peter Lysholt Hansen opened the seminar together with Deputy Director General of VNCC, Mr Do Duc Oanh. The Ambassador explained that the cement industry was a natural choice of industry sector when Danida decided to look into the opportunities for supporting the development of CDM projects in Vietnam. Denmark and Vietnam share a long history of cooperation within the cement sector and Mr. Lysholt Hansen was happy to announce that on 8 November 2007 a Memorandum of Understanding on development of CDM projects was signed between VinaCement and the Embassy. CDM projects – a key component in the Kyoto Protocol efforts to reduce greenhouse gas emissions – are still fairly new in Vietnam, but the seminar showed great interest among participants for exploring the opportunities, incl. the financial perspectives, that CDM projects could bring to cement plants in Vietnam. Mr. Lars Munkøe, a consultant from the Danish company, Viegand Maagøe, and Mr. Ha Dang Son, business development manager from the Vietnamese company RCEE JSC made comprehensive presentations on the CDM facility, CDM project design and execution as well as the concrete opportunities for CDM projects in the cement industry, incl. energy efficiency measures, power generation from waste heat, fuel switch, and change of blend. Madam Bach Lan Phuong from the Embassy of Denmark presented the Danish Mixed Credit facility that could be utilised to provide soft loans for financing of equipment needed for CDM projects. Seminar participants showed great interest for this aspect and in general the seminar revealed a strong interest in developing CDM projects on cement plants in Vietnam.