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Minister of Information and Communications Nguyen Manh Hung (middle) talks to the participants at the event (Photo: VBF 2024).

Chinh attended a meeting between the Prime Minister and the foreign-invested business community on March 19 and the annual Vietnam Business Forum (VBF), co-organized by the Ministry of Planning and Investment (MPI), the World Bank, and the International Financial Corporation (IFC).

Chinh said Vietnam has determined that green growth is part of the restructuring of the national economy, with the aim to improve productivity, quality, efficiency, competitiveness, and rapid and sustainable development.

Vietnam vows not to obtain growth at any cost, and will pursue development of a green ecosystem, circular economy, low-carbon economy and energy transition.

Vietnam has participated in the activities to promote green growth and sustainable development. Vietnam at COP26 committed to reduce net emissions to zero by 2050 and is a signatory of AZEC (Asia Zero Emission Community).

Vietnam is moving ahead with developing 1 million hectares of high-quality, low-emission specialized rice areas in the Mekong Delta and developing planted forests and large timber production in the 2024-2030 period.

The Prime Minister called on foreign invested enterprises and foreign investors to work together with Vietnam to carry out green transition and sustainable development with the ‘three pioneer’ spirit.

First, pioneering in awareness, thinking and action, changing the way of thinking about green growth. Second, pioneering in technology transfer, accelerating research and development and innovation to serve green growth. Third, pioneering in implementing green growth projects, reforming traditional-growth driving forces and creating new driving forces.

FIEs lead green-growth strategy

In his opening speech, Minister of Planning and Investment Nguyen Chi Dung emphasized awareness of the importance of green growth for the future of the nation. The Prime Minister has approved a national strategy on green growth from 2021 to 2030, with a vision to 2050.

The strategy determines green growth as an important solution to promote a long-term carbon-neutralized economy.

During this process, the business community will be the nucleus and play an important role. With advantages in capital, technology, administration, network and markets, foreign invested enterprises (FIEs) will be the pioneer to lead and accompany Vietnamese enterprises to obtain the goals of the green growth strategy.

Vietnam now has great opportunities to restructure and make great strides in economic, social, and environmental development.

Speaking at the event, Minister of Information and Communications Nguyen Manh Hung said digital transformation and green growth are the two most important transitions of the 21st century. They will lead to basic changes in human life.

Hung said data and green energy centers are goals of the Ministry of Information and Communications (MIC). 

Hung committed to create most favorable conditions for FIEs to participate in Vietnam’s green transition process, especially in the digital technology industry, semiconductors, and electronics.

Standing side by side 

Nitin Kapoor, co-chair of VBF, commented that this showed the strong determination of businesses in Vietnam, one of the world’s fastest growing economies. Green growth plays an important role in Vietnam’s growth path.

“Green growth is ensuring the health of the planet and happiness of the community, as well as building sustainable businesses,” he said.

Denzel Eades, Vice Chair of the British Chamber of Commerce (BritCham), applauded Vietnam’s commitment to reduce net emissions to zero by 2050, and affirmed that British enterprises are willing to make contributions in important fields, including energy, finance, pharmaceutical, and consumer goods.

Ngoc Cuong