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Programme saves firms $30m

Sep 13th at 13:31
13-09-2019 13:31:43+07:00

Programme saves firms $30m

An programme of International Finance Corporation (IFC) has enabled Vietnamese apparel and textile suppliers to save US$30 million a year by improving their resource efficiency and reduce operating costs.

The Vietnam Improvement Programme (VIP) aims to help increase productivity and promote sustainable private sector growth, boosting the countrys economy.

Viet Nam is one of the 10 largest exporters of textiles and garments globally but the industry is also ranked the second-biggest water polluting source in the country. It is also among the most energy-intensive consuming industry, using up to one tenth of the total energy consumed by all industries.

Over the last three years, VIP has enabled 82 textile, apparel and footwear factories to invest $37 million in resource efficiency measures, helping them save $30 million in water, energy and chemical operating costs annually.

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