Strengthen public-private partnership for innovation and sustainability

Strengthen public-private partnership for innovation and sustainability

Prime Minister Pham Minh Chinh chaired a meeting on April 17 as part of the fourth P4G Summit in Hanoi to discuss public-private partnerships (PPP) for innovation and sustainability.

Amina Mohammed, Deputy Secretary-General of the United Nations, emphasised that green energy is a unique investment opportunity in the 21^st century. "The UN will continue to play a key role in promoting PPP globally. However, success at scale requires strong frameworks, institutions, and a specific portfolio of potential projects that are able to receive finance," she highlighted.

The Organisation for Economic Co-operation and Development (OECD) secretary-general Mathias Cormann said that Vietnam has many opportunities to encourage cooperation with international partners in the energy sector, thanks to its position as Southeast Asia's largest renewable energy supplier.

"We are willing to coordinate and support Vietnam in strengthening PPP, attracting investment, training green skills for workers and exchanging experiences, and promoting policy discussions on green growth," he said. "The OECD will release the Vietnam Economic Report in June, including many recommendations and pilot proposals to push Vietnam's rapid, sustainable, and inclusive development."

Francesco Corvaro, Italy's special envoy for climate change, highlighted the two most important areas – transport and energy – and three prerequisites – investment, innovation, and cooperation – during the green transition process.

Alejandro Dorado, Spanish commissioner for circular economy, suggested, "All countries should boost the role of multilateralism and the role of international cooperation as an important driving force to increase trust, accelerate the progress of energy transition, build circular, environmentally friendly and inclusive economies."

Representatives said that no country, enterprise, or university can solve the big challenges of climate change, sustainable development, and green growth, calling for strengthening PPP, applying innovation, and promoting sustainable development initiatives.

Chairman of Danang People's Committee Le Trung Chinh shared some of the policies that were approved in recent years. "The city's new policies have paved the way for innovative startups, organisations, and individuals to develop strongly, as well as shaping the role of Danang as a national and regional innovation startup hub," he emphasised.

Asian Development Bank (ADB) country director for Vietnam, Shantanu Chakraborty, emphasised, "Close coordination for PPP, along with startups and an innovation ecosystem, will play a key role as Vietnam promotes its green growth and digital transformation process."

EuroCham Chairman Bruno Jaspaert said that Vietnam is facing a strategic opportunity to develop sustainably, promote innovation, and become a regional leader in this field. "This opportunity will differentiate Vietnam from other investment destinations. To realise this vision, Jaspaert proposed that the government remove bottlenecks in management, institutions, and access to green finance," he highlighted.

Large Vietnamese corporations, including VNPT and TH Group, shared the results of green transformation, the application of science and technology, and innovation. Notably, two key manufacturing companies under TH Group have achieved carbon-neutral certification, contributing to the government's commitments.

Ho Viet Hai, founder of startup Alterno, said, "The government should develop lending mechanisms and preferential credit packages for startups and innovation related to green growth."

Prime Minister Pham Minh Chinh concluding the dialogue

Concluding the dialogue, Prime Minister Pham Minh Chinh stated that Vietnam appreciates the opinions of businesses and pays attention to four groups of issues. First is to encourage science and technology, innovation, and digital transformation to build a transparent and public digital environment.

Second is reorganising organisational apparatus to reduce intermediaries and focal points for administrative procedures.

Third is to boost international integration, and firmly adhere to a foreign policy of independence, self-reliance, multilateralisation, and diversification. Fourth is to improve the investment and business environment to harmonise benefits and shared risks.

The PM also highlighted four major contents agreed upon at the dialogue. "PPP are the key to realising our sustainable development goals. Developing countries need to build a complete, comprehensive, and effective ecosystem to promote PPP to develop the green economy and digital economy. Green growth and sustainable development must go hand in hand with the development of sci-tech, innovation, and digital transformation. High-quality human resources are the decisive factor for the success of green public-private partnership projects."

The PM suggested the public sector improve institutions, drive green finance, support businesses to invest in innovation, green technology and sustainable development, strengthen international cooperation, transfer green technology, and build a high-quality workforce to drive the PPP model and effective and sustainable green transformation.

"The business community and associations should increase investment in green technology and digital transformation, apply global standards, participate in green infrastructure projects under the PPP model, implement environmental, social, and governance standards, support the innovation ecosystem, and proactively contribute to building sustainable development policies," he emphasised.

VIR