Welcome GGGI to mobilize an additional 1 billion USD in green finance for Vietnam

Prime Minister Pham Minh Chinh suggested that GGGI continue to have more close, practical, specific and effective cooperation initiatives with Vietnam - Photo: VGP/Nhat Bac

At the meeting, Prime Minister Pham Minh Chinh highly appreciated the GGGI Director General's attendance at the P4G Summit, as well as GGGI's support and contributions to green efforts, ensuring global and P4G sustainable development goals.

The Prime Minister said that Vietnam has achieved many positive results and will continue to promote more strongly the process of energy transition, green growth, and sustainable development, considering these as important driving forces for national development in the new era.

The Prime Minister thanked GGGI for its specific contributions and active cooperation with Vietnamese ministries, sectors and localities, especially in mobilizing finance for green projects in Vietnam.

The Prime Minister suggested that GGGI continue to have more close, practical, specific and effective cooperation initiatives with Vietnam; especially in policy consultation, legal system development, support for green capital mobilization, research and technology transfer, human resource training, green ecosystem building with green society, green people, green activities... to promote green, comprehensive, sustainable and inclusive growth, directly contributing to socio-economic development in Vietnam.

The Prime Minister also asked GGGI to finance both the public sector and public-private partnerships, promote connections with credit institutions and financial institutions to provide capital for green growth in Vietnam; as well as provide advice on building and implementing green projects in terms of conditions, standards and implementation methods to quickly disburse and effectively use the capital of 1 billion USD.

GGGI General Director Sang-Hyup Kim highly appreciated Vietnam as a founding member and one of the strongest members of GGGI; emphasized that Vietnam can absolutely become a key, core member of GGGI and GGGI wishes to have an increasingly stronger partnership with Vietnam - Photo: VGP/Nhat Bac

For his part, GGGI General Director Sang-Hyup Kim highly appreciated Vietnam as a founding member and one of the strongest members of GGGI; emphasizing that Vietnam is completely capable of becoming a key, core member of GGGI and GGGI wishes to have an increasingly stronger partnership with Vietnam.

Stating that GGGI has supported the mobilization of more than 300 million USD for green investment in Vietnam and is aiming for 1 billion USD by 2028, Mr. Sang-Hyup Kim said that there is still a lot of room for cooperation between the two sides, especially connecting financial institutions to mobilize green finance, issuing green bonds, supporting startups, building an innovation center to support the green transition process in Vietnam, cooperating with the National Innovation Center (NIC)...

He affirmed that Vietnam has strategic thinking, far-sighted vision, strong leadership with specific actions in transformation, green growth as well as digital transformation, artificial intelligence development, and believes that Vietnam will achieve the set goals in these increasingly important fields.

GGGI is committed to continuing to take substantive actions with Vietnam in the process of green transition and development; at the same time, promoting stronger and closer cooperation between Vietnam and Korea in the fields of green transition, information technology, agriculture, energy, etc.

Also at the meeting, the GGGI General Director proposed and received the Prime Minister's approval on the direction of signing an agreement between the Vietnamese Government and GGGI.

GGGI General Director Sang-Hyup Kim proposed and Prime Minister Pham Minh Chinh agreed on the direction of signing the agreement between the Vietnamese Government and GGGI - Photo: VGP/Nhat Bac

The Global Green Growth Institute (GGGI), originally a think-tank in South Korea, became an international organization in 2012 through a multilateral agreement at the United Nations Summit on Sustainable Development (Rio+20) in Brazil.

GGGI aims to promote green growth through providing technical assistance, research opportunities and multi-stakeholder collaboration, with a particular focus on developing countries.

Vietnam signed the ratification document of the agreement to establish GGGI in late 2012. During the period 2017-2024, GGGI has provided technical assistance and policy advice to 15 central and local agencies in Vietnam; at the same time, GGGI has provided technical assistance to more than 20 enterprises in the private sector, mobilizing more than 305 million USD for green projects in Vietnam. In December 2024, the Vietnam - GGGI Planning Framework for the period 2024-2028 was announced with the goal of mobilizing 1 billion USD in green investment for Vietnam.

Ha Van

Source: https://baochinhphu.vn/hoan-nghenh-gggi-huy-dong-them-1-ty-usd-tai-chinh-xanh-cho-viet-nam-10225041712230098.htm