[Gettyimages Bank]
Vietnam has promised to select investments that employ modern and environmentally friendly technologies. Projects with outdated and resource-intensive technologies which pose potential risks to the environment may not be allowed to expand or renew.
SK Innovation (SKI) and Doosan Heavy Industries & Construction, a key contractor in South Korea's energy industry, signed a memorandum of understanding with the Quang Ngai provincial government in Vietnam. The agreement also involves Vietnam’s biggest private conglomerate, Vingroup, and Ingine, a South Korean social venture which generates power using wave movements.
An Binh Island, which has a population of 500 and a size of 690,000 square meters, will be given eco-friendly facilities. SKI, a battery-making subsidiary of South Korea's third-largest conglomerate SK Group, would provide plastic recycling technology, replace streetlights and government office lighting with light-emitting diodes, and introduce solar energy cookers.
Doosan Heavy would support the maintenance of a seawater desalination plant, while Injin would set up a 50-100 kilowatt offshore tidal power plant. Vingroup promised to replace motorcycles with electric scooters and donate charging facilities.
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