Memorandum of Understanding on cooperation in establishing a resource recycling industrial park project between Vietnam and Korea

Prime Minister Pham Minh Chinh and South Korean Prime Minister Han Duck Soo witnessed the signing of a Memorandum of Understanding on cooperation in establishing a resource recycling industrial park project between the Vietnamese Ministry of Natural Resources and Environment and the Korean Ministry of Environment between Minister Dang Quoc Khanh and Minister Han Wha-jin.

Accordingly, the content of the Memorandum of Understanding on cooperation to establish a resource recycling industrial park in Vietnam will enhance technical cooperation, investment and experience sharing in promoting circular economy and developing a sustainable and modern recycling industry on the principles of equality, reciprocity and mutual benefit and achieving the United Nations' sustainable development goals.

With the memorandum of cooperation, the two sides aim to build a project to establish a resource recycling industrial park in Vietnam to promote the recycling industry and circular economy in Vietnam through investment activities, technology exchange, promoting the use of renewable energy and improving the welfare of workers participating in the recycling industry, towards sustainable development, contributing to the achievement of environmental goals.

The signing of the Memorandum of Understanding is consistent with the Party and State's guidelines and policies on international integration and cooperation in the environmental field; the cooperation content in the Memorandum of Understanding has a positive impact on Vietnam's politics, foreign affairs, defense, security, economy and society, especially helping Vietnam form and develop a new economic sector, a sustainable and modern recycling industry; promoting green investment, investment in the recycling sector while helping to create livelihoods, jobs and ensure welfare for workers in the recycling sector. On the other hand, the signing and implementation of this Memorandum of Understanding helps Vietnam contribute to solving environmental problems, especially solid waste management.

The signing of this Memorandum of Understanding aims to concretize the commitments of the senior leaders of the two Governments in the past time, contributing to promoting the comprehensive strategic partnership between Vietnam and Korea, promoting specialized cooperation, especially in the fields of environment, circular economy and sustainable development; realizing the commitment to comprehensive cooperation in the field of environment and creating conditions for specialized units of the Ministry of Natural Resources and Environment of Vietnam and the Ministry of Environment of Korea to cooperate and share in areas of mutual interest.

Previously, within the framework of the 16th Vietnam - Korea Environment Ministers' Meeting held on July 1, 2024, Vietnamese Minister of Natural Resources and Environment Dang Quoc Khanh and Korean Minister of Environment Han Wha-jin reached an agreement on comprehensive cooperation between the two ministries in the field of environment. The two ministers also witnessed the memorandums of understanding signed by the specialized agencies of the two ministries.

Source: https://baotainguyenmoitruong.vn/trao-ban-ghi-nho-ve-hop-tac-thanh-lap-du-an-khu-cong-nghiep-tai-che-tai-nguyen-giua-viet-nam-va-han-quoc-376264.html