That was said by experts at a meeting providing information on producers’ responsibilities organized by the Ho Chi Minh City Department of Natural Resources and Environment in collaboration with relevant agencies and business associations.
According to Deputy Head of the Environmental Protection Division under the municipal Department of Natural Resources and Environment, Ngo Nguyen Ngoc Thanh, starting in 2024, producers and importers of items such as packaging, vehicles, electronics, lubricants, and others must take responsibility for recycling or donating financial contributions to waste treatment. Additionally, industries at high risk of pollution, such as textiles, chemicals, and metallurgy, will be required to apply the best available technologies to reduce emissions and conserve resources by 2030.
However, Professor Nguyen Van Phuoc, Chairman of the Ho Chi Minh City Union of Science and Technology Associations, many businesses are facing difficulties regarding capital and human resources.
In fact, businesses that carry out green transitions early can access preferential funding sources, such as the Vietnam Environmental Protection Fund offering loans worth up to 70 percent of the investment, with an interest rate of only 2.6 percent to 3.6 percent per year and a loan term of no more than 7 years.
Additionally, the Vietnam Development Bank provides loans of up to 85 percent of the investment, with an interest rate of around 4.5 percent to 6 percent per year. Businesses that meet green standards can receive funding from international organizations such as the Asian Development Bank (ADB) and International Finance Corporation (IFC) with interest rates below 2 percent per year.
