Carbon Credits, Climate Change, Renewable Energy, Vietnam

Vietnam CDM Projects Encouraged

August 10, 2007 (Viet Nam News) HA NOI — Projects using a clean development mechanism (CDM) in Viet Nam will now benefit from tax incentives, preferential land rent and investment credit.

CDM projects include initiatives that use environmentally friendly technology, prove to generate no or little greenhouse gas and are recognised by the International CDM Executive Board.

The incentives were set out in a decision, recently approved by Prime Minister Nguyen Tan Dung, that aims to encourage the flow of investments into CDM projects in the context of increasing global warming.

The decision also stipulated that investors would be provided with financial support in working out CDM projects as well as benefit from a priority on selling products made by CDM projects.

When carrying out projects that meet CDM criteria, investors must follow Vietnamese laws and international conventions that the country has signed. The projects must also carry out environmental impact assessments.

The PM’s decision also regulates for the transfer of certified emissions reductions (CERs) by investors, while CERs will be managed by the Viet Nam Fund for Environmental Protection.

Investors can sell CERs or use them in their own countries if they are foreign investors.

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