PM: Green economic development a top priority
PM: Green economic development a top priority
Vietnam is considered one of the five countries most affected by climate change, making the fight against climate change and green development a priority, said Prime Minister Pham Minh Chinh at the Green Economy Forum and Exhibition 2022 (GEFE 2022), held by the European Chamber of Commerce (EuroCham) on November 28 in Ho Chi Minh City.
Green economy, a top priority
Prime Minister Pham Minh Chinh noted that after 35 years of renovation, Vietnam has achieved progress of historic significance. The country has never had the opportunities, potential, position and international prestige it has today. Vietnam has been building a self-reliant economy, actively integrating into the world, pursuing diversification and multilateralization policies, and acting as a responsible member of the international community, he said.
Prime Minister Pham Minh Chinh (second from left, first row) viewed environmentally friendly products at the Green Economy Forum & Exhibition (GEFE) 2022 |
Vietnam has approved a National Green Growth Strategy for the 2021-2030 period, with a vision to 2050. It has made strong commitments such as zeroing net emissions by mid-century, reducing global methane emissions by 2030, joining the Glasgow declaration on forests and land use, and the global declaration on transitioning coal power into clean energy.
“Fighting climate change and achieving green development are not the jobs of one country, but of the whole world. No country is left out, so it is necessary to call for global solidarity and uphold multilateralism,” the PM said.
“Fighting climate change, achieving green development and circular and digital economy have an impact on the whole country, so we need to cooperate with people as the center and major subject. All policies must be for the people. And people must participate in building policies and their implementation in the spirit of ‘People know, people discuss, people do, people monitor, people monitor and people benefit’,” Chinh said.
The PM praised European countries' cooperation with Vietnam and expressed his wish that the EU, European financial institutions and businesses continue to support Vietnam in advanced technology, innovation, green and cheap capital, human resource training, advanced management, sustainable development and modern management institutions.
Investment cooperation opportunities
According to Minister of Industry and Trade Nguyen Hong Dien, green economy, green growth and circular economy are becoming a global trend to minimize greenhouse gas emissions, improve economic resilience and creativity, and reach the goal of carbon neutrality and sustainable development. This development trend has been creating new rules of trade and investment, and Vietnam needs to change its mindset and pay attention to green production and supply chains and international trade, he said.
At the COP26 conference, Vietnam committed to zeroing net emissions by mid-century, together with almost 150 countries |
The Corporate Sustainability Reporting Directive (CSRD), enacted by the EU on November 10, set the standard by which nearly 50,000 EU companies will have to report their climate and environmental impact. The directive indirectly affects Vietnamese businesses that form part of European business supply chains. If domestic enterprises do not quickly shift to green production in accordance with the CSRD, they will probably fail to maintain their EU markets, said Vu Ba Phu, Head of the Ministry of Industry and Trade’s Vietnam Trade Promotion Agency (VIETRADE).
A World Bank (WB) representative told GEFE 2022 participants that the Bank will accompany Vietnam in calling for European investment, support European investment in Vietnam's green industries, and provide green finance to support green economic development goals.
Virginijus Sinkevicius, European Commissioner for Environment, Oceans and Fisheries, said Europe is very interested in green growth and sustainable development and the forum is an opportunity for Vietnam to strengthen its cooperation with the European Union. Through dialogue, governments and businesses can jointly find solutions for sustainable growth, he said.
The EU is willing to join Vietnam in fighting climate change, reducing fossil energy consumption and plastic waste, recycling waste into clean energy, building a safe food chain, practicing green agriculture, and minimizing the use of pesticides and emissions in production activities and logistics, textile and garment, leather and footwear, wood, equipment and machinery, and telephone industries, he said.
| Prime Minister Pham Minh Chinh: Vietnam is strongly committed to sustainable development. Vietnam joined almost 150 countries in committing to zeroing net emissions by mid-century, is working with more than 100 countries to reduce global methane emissions by 2030, joined 140 countries in the Glasgow Declaration on forests and land use, and 48 countries in the global declaration on transitioning coal power into clean energy, and works with 150 countries in the Adaptation Action Coalition (AAC). |
