The Vietnam General Department of Environment and the Korea Environmental Industry and Technology Institute (KEITI) signed a memorandum of understanding on environmental industry in Hanoi on Nov. 21.

KEITI and the Korea Environmental Protection Association also inked cooperative agreements with Vietnam ’s Association of Environmental Industry and the Association of Urban Environment and Industrial Zones.

At the signing ceremony, a seminar on Vietnam-RoK environmental cooperation was held with the participation of representatives from 17 leading RoK businesses.

The participants analysed the real situation of environmental cooperation between the two countries over the past time and future prospects, the development of environmental technology and industry in Vietnam as well as the country’s policies on this field.

According to Ass. Prof. Dr. Bui Cach Tuyen, Deputy Minister of the Natural Resources and Environment (MoNRE), since the 8 th Environmental Ministers’ Meeting in Seoul in April 2011, the MoNRE and KEITI have cooperated in developing human resources and improving environmental management capacity in Vietnam through training programmes and projects on environmental technology research and development.

Under the MoU, the Vietnamese and RoK businesses will jointly build an environmental technology and industry market with strong participation of foreign partners.

According to a survey by the Ministry of Industry and Trade , Vietnam sees a large potential for developing the environmental industry as solid waste discharged increases by 7 percent annually.

Solid waste treatment is estimated to cost 2.34 trillion VND per year and the figure may reach 3.9 trillion VND per year in the years to come./.