NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Monday, May 23, 2005

Vietnam will be a recipient of BP’s new US$500 million global development plan, a company official told Vietnam News last week.
Nguyen Duc Hung, the company’s communication and public affairs manager, said starting this year BP will donate $2.5 million to its Vietnam development projects in a five year circle, in which an average $500,000 will be allocated each year.
The fund stems from BP Group’s recent change in its community investment strategy.
“We have identified three areas for community investment where there is an overlap between what we can offer and what communities need: enterprise, education and energy,” said Hung on BP Group’s newly unveiled annual sustainability report titled “Making the Right Choices.” In Vietnam, Hung said, BP will focus on generating sustainable job opportunities.
The company will also continue to encourage educational initiatives. In energy, it is committed to giving people access to modern energy sources.
Story found here.