Green transformation is a common cause of the entire population, the business community and organizations. Vietnam needs to address three pillars: institutions, science and technology, resources, especially finance.
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| Deputy Prime Minister Tran Hong Ha speaks at the Vietnam Development Bridge Forum 2024. |
On the afternoon of April 10, 2024, the Ministry of Foreign Affairs, Vietnam Economic Magazine and Hai Phong City People's Committee jointly organized the 4th Vietnam Development Bridge Forum 2024 (Vietnam Connect Forum) and the 23rd Golden Dragon Awards program.
Vietnam, along with many countries in the world, is strongly transforming from a “brown” economy to a “green” economy with a focus on circular transformation, energy transformation, low carbon emissions, ensuring green growth, aiming to successfully implement the Net-Zero commitment by 2050 and sustainable development. This is considered a green innovation, a green industrial revolution and has become an inevitable and irreversible trend in the world's development process.
Green transformation is inevitable
Deputy Minister of Foreign Affairs Nguyen Minh Hang pointed out three major trends that have multi-dimensional impacts on all countries. Accordingly, green and sustainable economic development is an irreversible trend. Notably, the two trends of green growth and digital transformation with the development of new technologies take place simultaneously, interact, and accelerate both processes at an outstanding speed. At the same time, it must be affirmed that the international community has achieved deep awareness, high determination, and ambitious goals on the need to cooperate and act for a green and sustainable economy.
Mr. Nguyen Duc Hien, Deputy Head of the Central Economic Commission, said that in fact, it cannot be denied that in recent years, Vietnam has achieved many achievements in green transformation and green economic development.
A typical example is the positive energy transition, in which renewable energy accounts for about 27.1% of the total capacity and 13.7% of the output in the national power system. Compared to the target set for 2030 of about 15-20% and 2045 of about 25-30% in Resolution No. 55-NQ/TW, the capacity of renewable energy sources can be achieved.
The proportion of the digital economy in Vietnam's GDP will reach 16.5% by the end of 2023. Green credit has grown by 20% per year since 2017 and accounts for nearly 4.5% of the economy's outstanding debt in 2023. In the 2019-2023 period, Vietnam issued about 1.16 billion USD in green bonds.
In 2023, Vietnam successfully sold 10.3 million carbon credits through the World Bank (WB), earning 51.5 million USD; in 2022, the whole country will have about 240,000 hectares of organic farming (while in 2016 it was only 77,000 hectares); 59/63 provinces and cities nationwide will implement organic agriculture...
According to Mr. Hien, the resolutions and general policies on rapid and sustainable development, green economic development, and circular economy are set out in the Socio-Economic Development Strategy 2021-2030 approved at the 13th Congress as well as clearly mentioned in resolutions such as Resolution 24 of the 11th Central Executive Committee, Resolution 29 of the 13th Central Executive Committee...
“It can be affirmed that in terms of policies, guidelines and strategies, we are very complete. However, the problem is to put the policies into practice and synchronously deploy strategies and plans,” said Mr. Hien.
Sharing about this issue, Ms. Nguyen Minh Hang said that the urgent issue now is to turn commitments into actions, turn ideas and initiatives into resources, turn desires and visions into specific results so that no country is left behind in the effort to green the global economy in a sustainable way.
Speaking at the forum, Deputy Prime Minister Tran Hong Ha said that green economy and circular economy are becoming inevitable trends, and are actions that we need to transform into soon to protect ourselves.
For the first time, the Resolution of the 13th National Party Congress clearly demonstrated Vietnam's will to choose a green economic model and a circular economy. At COP 26, Vietnam also set a commitment target of Net Zero by 2050, although even for developed countries this is still a big challenge.
The Deputy Prime Minister emphasized: “This is the way to save ourselves. It is time to have a way to realize these policies. It will no longer be a slogan or a call, but requires us to quickly move from awareness to action.”
Need the consensus of the people
According to Mr. Nguyen Duc Hien, to make a green transition, we must consistently consider this as a common cause of the entire population, the business community and organizations, and must promote and focus on three pillars: institutions, science and technology, resources, especially finance.
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| The government is planning to change a number of decrees, creating a legal environment for a green transition roadmap. |
Mr. Le Tien Chau - Secretary of Hai Phong City Party Committee shared that green transformation needs a suitable roadmap, taking into account the specific conditions and different capacities of localities. Therefore, localities across the country need to promote the spirit of solidarity, cooperation, sharing and harmonizing interests for the common goal of the Government.
"Responding to the Government's strategic orientation on green and sustainable development, Hai Phong City is urgently researching and proposing to the Government to establish the Southern Hai Phong Coastal Economic Zone in the direction of the first green economic zone in Vietnam; at the same time, developing Cat Ba archipelago to become a "green" tourist destination," said Mr. Le Tien Chau.
Deputy Prime Minister Tran Hong Ha said that the Government is currently focusing on amending laws related to the electricity sector. The Government is also planning to change a number of decrees, create a legal environment for a green transition roadmap, and build a number of mechanisms for the formation of renewable energy industries.
Regarding economic models, the Government is also developing a plan so that the Government, localities, businesses and people can work together to implement a circular economy. Many mechanisms related to how to achieve the Net Zero target are also being discussed.
The Deputy Prime Minister also emphasized that in that process, the most important transformation is related to energy, in which finance and technology are headaches for countries, as well as the Vietnamese Government.
According to Deputy Prime Minister Tran Hong Ha: "The Government needs to soon issue mechanisms and policies to decide on attracting FDI, especially in selecting investment projects. Currently, if attracting investment only relies on land, cheap labor... then it will no longer be valuable."
Deputy Prime Minister Tran Hong Ha affirmed that during the transition process, the Government and localities will always listen to the voice of the business community to provide necessary support, as well as have global mechanisms to transition accordingly.
Following the plenary session of the 4th Development Bridge Forum taking place in Hai Phong City on the afternoon of April 10 is the ceremony to announce and honor typical FDI enterprises in 2023 to receive the 23rd Golden Dragon Awards. The 2024 Golden Dragon Award focuses on surveying and evaluating pioneering enterprises in green transformation, circular transformation, ensuring low carbon emissions in production, business and corporate governance processes... In 2024, the organizing committee received more than 486 nominations and registrations. Through 2 rounds of survey and evaluation, the Golden Dragon Award 2024 announced and honored 50 typical FDI enterprises in 6 industry groups, including: processing and manufacturing industry; digital technology and digital services; financial services and insurance; infrastructure development, industrial parks and real estate; education and health care; agriculture, food and beverage. Among the outstanding brands honored are Samsung, LG Display, Intel, Qualcomm, Heineken, HSBC, Lego, SCG, UOB, Coca-Cola... |
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