The UN Industrial Development Agency (UNIDO) and the Ministry of Trade on March 7 jointly released the Industrial Development Report 2011 (IDR 2011).

The report, themed “Industrial energy efficiency for sustainable wealth creation: capturing environmental, economic and social dividends” was carried out in Vietnam, with comparisons to ten Asian countries. The report is announced every two years.

UNIDO Managing Director Wilfried Luetkenhorst said the efficient use of energy is an important factor for achieving sustainable industrial development, along with overcoming major challenges that countries worldwide are facing in ensuring green growth, food production and security and coping with climate change.

Developing countries’ energy spending makes up 55 percent of the world’s total of almost 1 trillion USD per year. Industries make up 25 percent of the world’s total greenhouse gas emissions.

IDR 2011 pointed out many challenges to investment in the use of energy saving technology, particularly the existing energy policy prioritising cheap energy.

UNIDO put forward six proposals to developing nations for energy efficiency, suggesting Vietnam draft laws and regulations to eliminate plants using backward technology to cause energy waste and environmental pollution and devise a specific timeframe on efficient energy use.

Vietnam also needs to have funds and suitable policies to assist research and technology transfer in energy efficiency, particularly energy price policy for efficient use, said the UN organisation.

Addressing the report launch ceremony, Deputy Trade Minister Tran Tuan Anh welcomed the UNIDO initiative to encourage energy efficiency, especially the establishment of an international cooperative mechanism to transfer efficient energy technology from developed countries to developing countries, including Vietnam.

The efficient and economical energy programme goal for 2011-2015, to reduce energy consumption by 5-8 percent, is an ambitious objective given the existing backward technology, he said.

He said the ministry will consider the UNIDO’s proposals on implementing policies suitable for energy efficiency.-VNA