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Vietnam has won the third prize at the final round of the global energy contest “Go Green in the City 2014” held in Paris from June 17 to 21.

The Vietnamese team, consisting of Nguyen Thi Thuy Duong and Dang Huynh Mai Anh who are both enrolled at Ho Chi Minh City Foreign Trade University, received the award on Monday with their idea “Energy Bank.”

The idea presents a “banking” concept applied to energy management to ensure the stability of energy demand and also to encourage the spirit of “The more you save, the better you earn.”

The two earlier beat rivals from eight East Asian countries and territories to win the regional round organized in Ho Chi Minh City in April.

The first-prize winning team of the global final round comes from the Hong Kong University of Science and Technology and the first runner-up prize went to a team from New Zealand’s Victoria University.

Held by Schneider Electric since 2009, “Go Green in the City” is a global program aiming to challenge business and engineering students worldwide to develop creative initiatives, intended to promote innovative and intelligent energy consumption.

Participants are required to work in teams of two, with at least one woman in each group, to come up with viable solutions for energy management sectors critical to cities.

This year, the final round gathered 12 teams from Egypt, Brazil, China, Vietnam, India, New Zealand, the U.S., Russia, Turkey, Japan, Canada, and France.