The Ministry of Natural Resources and Environment (MoNRE) and the Japanese Ministry of Economy, Trade and Industry (METI) on July 2 signed a Memorandum of Understanding (MoU) on low carbon development.

The MoU is part of an agreement with Japan on the Joint Crediting Mechanism (JCM).

The signing ceremony saw the presence of MoNRE Minister Nguyen Minh Quang and METI Minister Motegi Toshimitsu among others.

The MoU is a foundation for the strengthening of cooperation activities between the two ministries in the coming time in rare earth surveying and exploitation in Vietnam, JCM cooperation, Green Aid Policy (GAP) dialogues, atomic electricity cooperation, and the Vietnam–Japan Joint Initiative Phase 4.

Minister Quang spoke highly of Japan’s efforts and expressed his hope to continue working with the country to fulfil the aforesaid issues towards implementing JCM projects in the near future.

After the signing ceremony, the two sides will continue talks to set up a JCM joint committee and perfect the Manual for JCM implementation.-VNA