The launching ceremony of the Vietnam Climate Innovation Centre. (Source: baotainguyenmoitruong.vn)

Hanoi (VNA) - A new business hub supporting local clean-tech enterprises was launched on December 11 with a budget of 4.2 million USD.

The Vietnam Climate Innovation Centre (VCIC) aims to assist 48 clean-tech businesses within its first three years of operations, expanding access to new and improved products and services to over 1,700 households.

The centre will provide financing, mentorship and advisory services to a number of local clean-tech entrepreneurs working in key sectors - energy efficiency, information, renewable energy, sustainable agriculture and water management.

The VCIC, which is an initiative of the World Bank Group's Climate Technology programme, is supported by the Australian Department of Foreign Affairs and Trade and the United Kingdom Department for International Development.

Vietnam is one of the five countries most vulnerable to climate change and the government sees clean technologies as key to reduce greenhouse gas emissions by 8 to 10 percent between 2010 and 2020, and a further 1.5 to 2 percent by 2050.-VNA