Vietnam aims to make textile industry "greener"
Vietnam will reduce environmental impact of textile and garment industry by decreasing the use of energy and water to better meet the requirements of international import markets, local media reported.
The industry set the target to reduce energy consumption by 15 percent and water consumption by 20 percent by 2023, the newspaper Vietnam News reported.
A greener textile and garment industry helps fulfill the requirements of large textile and garment import markets in the world, such as the European Union (EU), the newspaper cited Truong Van Cam, general secretary of the Vietnam Textile and Apparel Association (VITAS).
Improving the sustainability of the products is important for businesses to further enter markets like the United States, EU and other large markets, Cam said.
According to VITAS, the textile and garment businesses have carried out many greening activities, such as replacing electric boilers, using rooftop solar power, and reusing wastewater. However, there needs to be more synchronism in greening among enterprises.
Australia's Industry Minister Ed Husic said that a new multi-billion-dollar fund will help the nation become a country that "makes things again."
In a speech to the National Press Club (NPC), the minister described the 15-billion-Australian dollar (9.9billion-U.S. dollar) National Reconstruction Fund (NRF) as one of the largest peacetime investments in Australian industry.
Legislation for the fund is expected to be introduced to the parliament within days. When it is established, the fund - a major election promise of the Labor Party - will provide loans, guarantees, equity and co-investment to support projects that create jobs and promote regional development.
The government of the day will be able to set priority industries for investment. The Labor government has identified resources, agriculture, transport, medical science, renewables, defense and future technologies like robotics and quantum as the initial seven priority areas.
"We want more Australian businesses to think globally and to make locally," Husic said.
"We want Australia to be a country that makes things again. It's that simple. In reclaiming the idea of a country that makes things, there is the potential to reimagine and reshape what we as a people could achieve, together. To reinvigorate faith in Australian ideas and know-how."
The Department of Industry, Science and Resources will open a public consultation process to define the seven priority areas.
The NRF, which is modeled on the Clean Energy Finance Corporation (CEFC), will be overseen by an independent board.
The Opposition has not declared a position on the NRF but the government will be able to pass it through Parliament with the support of independents and minor parties in the Senate.