Incentives needed to boost environmental industry

Environmental industry needs incentive policy to develop. (Source: binhduong.gov.vn)

Hanoi (VNA) - The Vietnam Environmental Industry Association called for incentives to promote the development of the industry at a conference in Hanoi on April 15.

The event aims to review the implementation of a project on developing the environmental industry in Vietnam the 2010-2015 period and set orientations through to 2025.

Preferential financial policies are needed for environmental service providers, the association said, adding that incentives should be devised to boost the consumption of domestically made environmentally friendly products, while financial assistance should be provided for relevant promotional events.

Localities also need to develop their own specific plans for developing the sector through to 2020.

Sharing the view, Deputy Director of the Department of Science and Technology under the Ministry of Industry and Trade (MOIT) Nguyen Huy Hoan stressed the need for legal documents guiding the application of the incentives in terms of finance, infrastructure, land and taxes for the production and import of machines, equipment and vehicles used in collecting, transporting and processing waste.

A mechanism on environmental technology transfer should also be put into consideration, Hoan said.

In the 2010-2015 period, within the framework of the project, the ministry approved 57 research missions relating to technology, equipment and products serving the industry with a total investment of 198 billion VND (8.91 million USD).

There are nearly 4,000 licenced firms operating nationwide in the environmental field, said President of the association Nguyen Dinh Hiep.

A majority of them are small-sized enterprises, with capital below 5 billion VND (225,000 USD), Hiep said.-VNA