Accordingly, the United States Agency for International Development (USAID) and the Vietnam Chamber of Commerce and Industry (VCCI) signed a Memorandum of Understanding (MOU) to improve Vietnam's competitiveness, expanding market opportunities for American businesses, and strengthening Vietnam's environmental policy.
The above MOU will focus VCCI's focus on sustainability, green technology and climate change. USAID also intends to assist VCCI in developing a Green Index to help American businesses select localities that are investing in green activities.
Also through USAID, the US government announced the Vietnam Low Emissions Energy Program II (V-LEEP II), worth US 36 million and lasting for five years, to accelerate Vietnam's transition to clean, safe and market-oriented energy system.
The project will help improve government energy planning, increase competition to encourage the US private sector to participate in energy service delivery, and strengthen the clean energy system. In addition, the project will help Viet Nam expand the use of electric motorcycles and implement the Direct Power Purchase Agreement (DPPA) mechanism that allows businesses to buy electricity directly from private companies that produce renewable energy.
For its commitment to help the Mekong Delta respond to climate change, through USAID, the US government has launched the Mekong Coastal Habitat Conservation Project. This is a new 3-year, US 2.9 million project with the International Union for Conservation of Nature (IUCN). This project aims to protect important coastal habitats in the Mekong Delta region to support sustainable fisheries, climate change adaptation and biodiversity conservation.
The United States also welcomes Vietnam to join the Agricultural Innovation Mission for Climate (AIM4C), an initiative announced at the Climate Summit hosted by US President Joe Biden in April 2021. The initiative will be launched at the United Nations Climate Change Conference 2021 (COP-26) in November.
AIM4C participants will work together to accelerate global agricultural innovation and adoption of climate-smart technologies. The United States and Viet Nam, together with global partners, can address common climate challenges and come up with innovative solutions to improve food security and drive economic growth around the world.