Businesses not interested in investing in energy-saving technologies

Despite huge benefits produced from investment in energy-saving technology also known as green technology, neither banks and businesses are interested in pouring money into investing in such technology.

Businesses are not interested in investing in energy-saving technologies

The Ministry of Industry and Trade and the World Bank today co-organized a seminar on the project to promote lending for energy efficiency projects in the country’s industry sector.

The project has been implemented from March 2022 to January 2026 nationwide. However, at today’s seminar, General Director Ngo Thu Ha of Saigon - Hanoi Commercial Joint Stock Bank (SHB) as well as many domestic and foreign experts moaned about difficulties and obstacles in some energy-saving projects. Particularly, the bank has financed technological equipment, but these technological equipment are only a part of the enterprise's system, so the bank must calculate and evaluate investment efficiency and payback time.

At the same time, due to reduced production and business efficiency, many businesses are reluctant to invest in innovative energy-saving technology, even though the benefits of conversion are huge.

Before, the World Bank Treasury designed the financial structure of a US$100 million credit line to Vietnam to help local financial institutions set up energy efficiency lending as a business line.

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