The Prime Minister has decided to approve the project "Energy efficiency improvement in commercial buildings and condominiums in Vietnam" totaling nearly USD 22.5 million investment. The Project is funded as a grant from the Global Environment Fund (GEF) through the Development Programme of the United Nations (UNDP).

Accordingly, the project will be implemented over four years and governed by the Department of Science, Technology and Environment (Ministry of Construction). The Prime Minister assigned the Ministry of Construction in collaboration with UNDP in Vietnam and concerned agencies to prepare and approve annual action plans and project implementation in accordance with current regulations, ensuring the effective use of ODA fund, and the project objectives to be achieved.

Ho Chi Minh City and Hanoi, set a target of 236,382 tonnes of CO2 reduction by improving the energy efficiency in commercial buildings and condominiums. 

Specifically, this project goal is to reduce 236,382 tons of CO2 by improving energy efficiency in commercial buildings and condominiums in Ho Chi Minh City and Hanoi. In particular, the direct emission reductions is estimated at 37,680 tonnes of C02eq by the time the project ends and the indirect emissions shall be brought down by 6% as estimated with annual emissions accumulated in 10 years by the time the project ends .

Reportedly, the project has a capital of US$ 22,476,550, of which the ODA grants from GEF through UNDP is US$ 3.1 million, the counterpart funds and co-financing by the Vietnamese authorities reach over US$ 19.2 million.

During implementation, the project will develop and demonstrate a number of models for commercial buildings where technology for economical and eeficient use of energy is applied.

Trong Tan