Vietnam determined to build a green and sustainable economy
(Chinhphu.vn) - On the morning of October 21, speaking at the opening session of the Green Economy Forum 2024 in Ho Chi Minh City, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son emphasized that Vietnam is determined to build a green and sustainable economy, while participating in the common effort in the fight against global climate change.
On the morning of October 21, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son attended the Green Economy Forum and Exhibition 2024 in Ho Chi Minh City - Photo: VGP/Minh Ngoc
Green transformation and green economic development are still strategic choices
Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son expressed his pleasure at attending the Green Economy Forum and Exhibition 2024; At the same time, he highly appreciated the theme this time - "Creating a Green Future" and commented that the Forum has become a leading annual event of scale and prestige in Vietnam, a model of public-private cooperation in green growth.
Nearly a year has passed since the 2023 Green Economy Forum, with the efforts of the world as well as the region, green transformation continues to be maintained, promoted, and given new momentum thanks to global commitments, for example at the Future Summit in September 2024.
Deputy Prime Minister Bui Thanh Son cuts the ribbon to open the Green Economy Forum and Exhibition 2024 - Photo: VGP/Minh Ngoc
"This is truly a positive signal showing that the international community's determination to promote a green future remains unshaken, even though we are facing a series of challenges from economics to geopolitics, from natural disasters to man-made crises, seriously affecting peace and stability in the world," the Deputy Prime Minister emphasized.
According to Deputy Prime Minister Bui Thanh Son, in a world with many local conflicts, cooperation for peace, prosperity and development is still the dominant trend. In a volatile world, green transformation, green economic development is still an inevitable trend, a strategic choice of countries and a hope for future generations. To create a green future, there must be green thinking, green vision, combined with green technology, green energy and green lifestyle.
With the policy of "not sacrificing progress, social justice and the environment to pursue pure economic growth", Vietnam has set a general goal, identifying that green growth must contribute to promoting economic restructuring associated with growth model innovation, aiming to achieve economic prosperity, environmental sustainability and social justice; towards a green, carbon-neutral economy and contributing to the goal of reducing global temperature rise.
Deputy Prime Minister Bui Thanh Son emphasized that Vietnam is determined to build a green and sustainable economy - Photo: VGP/Minh Ngoc
Vietnam has achieved positive results in green economic development
Affirming the motto "promoting internal strength is fundamental, strategic, long-term, and decisive; external strength and the power of the times are important and breakthrough factors", Deputy Prime Minister Bui Thanh Son said that Vietnam has been flexible, creative but also very determined in implementing measures to promote green economic development.
The Government has synchronously deployed many groups of solutions, achieving positive results in many aspects. Specifically, it has issued policies to respond to climate change, reduce emissions, convert energy, and implement carbon neutrality commitments, typically the Plan to implement the Power Plan VIII, Vietnam's Hydrogen Energy Development Strategy to 2030; the Project for sustainable development of 1 million hectares of high-quality and low-emission rice cultivation, the Green Growth Statistical Indicators Set, etc.
At the same time, it has completed policies on management, exploitation, use of resources and environmental protection, notably the Land Law, the Water Resources Law and the Electricity Law which are being amended.
At the same time, it has gradually developed markets for land use rights, resource exploitation rights, carbon credits, etc. with the desire to go hand in hand and integrate with the world in the green sector. "I am pleased to announce that Vietnam has issued a mechanism for direct electricity trading between renewable energy generators and large electricity users and plans to pilot a carbon credit trading platform in 2025," said Deputy Prime Minister Bui Thanh Son.
Deputy Prime Minister Bui Thanh Son visited the booth of European enterprises and listened to the introduction of electric motorbike products - Photo: VGP/Minh Ngoc
In addition, a group of solutions that are also being actively implemented is to unlock resources to respond to climate change, especially in the Mekong Delta. In a short time, the Government has removed difficulties and accelerated the implementation of 16 sustainable development projects with a loan capital of about 2.5 billion USD.
Next, the Government, together with relevant agencies and organizations, will implement measures to support enterprises in transforming production, meeting new standards, green standards, carbon emissions, environmental-social-governance (ESG) standards.
Notably, Vietnam has announced a Plan to mobilize resources to implement the Political Declaration on establishing an energy transition partnership.
(JETP) and identify key projects within the framework of the Asian Zero Emission Community (AZEC) initiative. With the desire to join hands with the international community to promote the global greening process, despite being a developing country with limited resources and mainly receiving green investment and aid, Vietnam will host the Partnership for Green Growth and Global Goals (P4G) Summit in 2025.
"We believe that organizing a pioneering forum on public-private partnerships for green growth will contribute to promoting cooperation and attracting green finance for developing countries to adapt to climate change and realize the 2030 Sustainable Development Goals," Deputy Prime Minister Bui Thanh Son shared his views.
Deputy Prime Minister Bui Thanh Son and Vice President of the European Commission and representatives of European enterprises visit the agricultural product booth of Vietnamese enterprises - Photo: VGP/Minh Ngoc
Taking green economy as a breakthrough area in Vietnam - EU cooperation
After nearly 35 years of establishing diplomatic relations, Vietnam - EU cooperation has developed comprehensively. The EU's pioneering efforts in building a green European and global economy are demonstrated through important initiatives such as the Green Deal, Global Gateway, Marine Economy Strategy, Digital Economy... and emission mechanisms and standards. According to the Deputy Prime Minister, this is the driving force and valuable experience for Vietnam to pursue the goal of a green, sustainable and carbon-neutral economy by 2050. Green and sustainable development continues to be a common concern and commitment of Vietnam - EU.
On that basis, Deputy Prime Minister Bui Thanh Son outlined a number of key contents that need to be implemented in the coming time.
First, continue to promote bilateral relations in depth, taking economic development, especially green economy, as one of the breakthrough areas of cooperation.
Specifically, promote sustainable trade and develop green supply chains through more effective implementation of the Vietnam - EU Free Trade Agreement (EVFTA); soon ratify the Vietnam - EU Investment Protection Agreement (EVIPA) to develop bilateral cooperation commensurate with the potential and aspirations of both sides.
Deputy Prime Minister Bui Thanh Son took a souvenir photo with leaders and delegates attending the Green Economy Forum 2024 - Photo: VGP/Minh Ngoc
Second, research and implement a number of lighthouse cooperation projects to promote the public-private partnership model, multi-stakeholder cooperation on green transformation on the basis of maximizing the comparative advantages of each side. Vietnam hopes to continue receiving valuable support from the EU in finance, technology and human resource training. Propose that EU members share experiences in developing carbon certification markets linked to international markets and implementing green hydrogen projects.
"We are ready to work with the EU to promote green growth initiatives through sharing experiences and stories on promoting low-emission agricultural development, green energy transition, renewable energy development, green hydrogen, promoting the implementation of JETP to become a model of exemplary cooperation and a bridge to further develop EU-ASEAN relations", said the Deputy Prime Minister.
Third, strengthening cooperation in research and development, European enterprises can consider increasing investment, establishing research centers in Vietnam in new fields such as renewable energy, green hydrogen, green infrastructure, digital transformation, smart agriculture, low-emission industry, etc.
Fourth, proposing that the EU continue to maintain ODA for Vietnam, focusing on urgent areas for Vietnam today such as strengthening public administration capacity, green economy, digital and circular.
Fifth, the two sides increase exchanges and support each other at multilateral mechanisms on green growth, energy transition and other strategic areas.
Entering a new era of the nation, in an effort to implement new-age diplomacy, Deputy Prime Minister Bui Thanh Son affirmed that Vietnam is determined to join the EU in making more active contributions to the green and sustainable development of the region and the world, for a green planet and a green future./.
