Korea Institute for Development Strategy (KDS, President Shin Gi-deok) signed a Memorandum of Understanding (MOU) with RCEE-NIRAS, a leading Vietnamese consulting firm specializing in energy, environment, and sustainable development, on June 11, 2025, at the Lotte Hotel in Dao Tan, Hanoi. The signing ceremony was attended by key figures from both institutions, along with representatives from the Vietnamese Ministry of Agriculture and Rural Development (MARD), the Ministry of Industry and Trade (MOIT), the KOICA Vietnam Office, the Korea Energy Agency (KEA), and EnTL.

Through this MOU, the two organizations agreed to strengthen cooperation and pursue joint efforts in the development of Vietnam's carbon market and the identification of Internationally Transferred Mitigation Outcomes (ITMO) projects.

This agreement, part of the initiative to implement Article 6 of the Paris Agreement, focuses on establishing a comprehensive cooperation system that includes project identification, financing, capacity building, and policy support across various sectors such as technical cooperation, clean energy transition, energy efficiency enhancement, and waste management. While RCEE-NIRAS will enhance local execution through its collaboration with key Vietnamese government agencies like MARD and MOIT, Korea Institute for Development Strategy (KDS) will leverage its 24 years of experience (since its founding in 2001) in providing development consulting for developing countries to take charge of policy advisory, capacity building, linking public and private investments, and mobilizing technical resources.

The partnership between the two organizations began with the KOICA-funded "Project for Supporting the Vitalization of Energy Efficiency Investment in the Vietnamese Industrial Sector" from 2017 to 2020. This collaboration has continued through the follow-up project, "Project for the Vitalization of the Energy Efficiency Investment Market and Support for Green Growth Plans in the Vietnamese Industrial Sector," spanning from 2021 to 2025.

Mr. Jeon Hong-min, Director of the Global Climate Change Center (GCCC) at Korea Institute for Development Strategy (KDS), stated that as the demand for ITMO project development from the Korean government and private sector increases, the organization will continue to expand project identification and investment linkages not only in Vietnam but also in other strategic markets such as Mongolia, Indonesia, and Sri Lanka.

With the signing of this MOU, cooperation is expected to expand beyond energy savings and green growth to include support for achieving the Nationally Determined Contributions (NDC) of both Korea and Vietnam, as well as the development of international carbon trading mechanisms to realize carbon neutrality.

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