Embassy of Finland published an official statement regarding the latest project to support Thang Long Energy Joint Stock Company with EUR 110 000 to study the Environmental and Social Impacts of large-scale Waste-to-Energy Plant in Bac Ninh Province, Vietnam.
The Fund for Local Cooperation (FLC) Application and Funding was approved after detailed consultations and several rounds of negotiations with possible financing, technical and advisory partners. In this project, Global Green Growth Institute (GGGI) has worked alongside Thang Long Energy Environment JSC and Bac Ninh province stakeholders as an advisor to facilitate the funding and the study.
Finnish Ambassador to Vietnam H.E. Kari Kahiluoto commented on the investment opportunity that this project creates, “Green Investments are partly lacking from Vietnam and the Embassy of Finland with this support aims to lower the risk of early-stage adapters of innovative waste-to-energy technologies that help to mitigate harmful emissions caused by poorly handled waste and also to help Vietnam to tackle the environmental hazards that poor handling of municipal waste poses. That is why we engaged with Thang Long Energy Environment JSC and Bac Ninh province PPC with great enthusiasm and decided to co-fund this step of the project as it was presented to us through open call for proposals.”
The ambassador shared his vision with the current emphasis on impact and development. After the study is finalized, the project is expected to be taken to its next natural stage.
“The larger impact that we expect the study and the project to point out are the improvement of living conditions of people in Bac Ninh city and surroundings as well as the impact on job creation. Through this study, we are also going to learn how the Finnish Environmentally sound technology specifically fits into South East Asian context of waste handling. This is one of the projects that are spearheading the Strategy of Finland’s transition from traditional development cooperation towards financing private-led initiatives, where more emphasis is put on the private sector engagement, investments and business-to-business transactions.”
Finland is encouraged to support introduction of modern and environmentally sound Waste processing and Waste-to-Energy technology in Bach Ninh province. After the study is finalized, the project will with the help of Finnish Technology, contribute to Bach Ninh Province’s goals to increase the use of renewable energy and modernization of waste management. This assessment that the Embassy is financing is one of the last steps towards realization of the Waste-to-Energy plant by the investors in Bach Ninh.
Embassy facilitates many other initiatives as well related to environment, air quality, fisheries, sanitation, water quality, forestry and transparency in governance. Finland has supported Vietnam through different development initiatives over 40 years.