Is local technology a solution for Asian countries?

As Asian countries are considered to be the most developing countries, it’s better to integrate green energy projects where the sustainable development for these countries meets the need required for expanding the technological and industrial sectors thereby employment and income can be generated for the majority of the populations.

But the main source of the funding system is the Asian banking system with a proper framework compare to the Asian governments to draw economic funds for developing economically. So with the current scenario, building green energy facilities or technologies required to develop can be done locally which consists of developing green energy projects.

For the government-provided capital, the return can be in the form of renewable green energy for economic incentives, thereby decreasing countries’ dependency on locally-produced or polluting energy that has been imported to sustain an economic development with industrial activities that is enlarged to generate constructive employment.

As per a specific country with developed industrial and technology benefits, the Asian government with interest can focus on green energy projects which are available locally, or they could be developed locally. The Asian countries who are currently only givers and lack advance scientific and industrial sectors can embark on a renewable green technology energy journey that requires advancing technologies.

In short, it is much easier to install, build, maintain, and repair at a comparatively lower cost than major green energy- technology suppliers in most countries.

Source:- Handbook of Green Finance by Jeffrey D. Sachs et al.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.