P4G 2025 Summit - a new 'brushstroke' for a colorful picture of cooperation for the future

Prime Minister Pham Minh Chinh received Chairman of the Korean Carbon Neutrality and Green Growth Committee Kim Sang-Huyp on the sidelines of the WEF Dalian in China in June 2024. (Source: VGP)

The 4th Summit of the Partnership for Green Growth and the Global Goals (P4G) 2025 has the theme “Sustainable green transformation, people-centered”. How does the Ambassador assess this theme in the current trend of international cooperation in green growth?

International relations in general and cooperation activities in particular are always changing and fluctuating in accordance with the situation, interests and capabilities of each country participating in these activities. In that process, consultation and dialogue are catalysts that help countries come closer together and cooperate for common goals.

Green growth, the need of all humanity, is no exception to this rule. Therefore, this content has become a common trend, an agenda of many countries, and has been mentioned at many international events. However, it is difficult to ignore the fact that issues such as sustainable development and green growth with such diverse participants will receive many rich, sometimes conflicting opinions. Once again, consultation and dialogue have been and are the main tools to create unity of views.

Vietnamese Ambassador to Korea Vu Ho. (Source: VNA)

The P4G 2025 Summit held in Vietnam this time therefore carries many meanings. That is, the contribution of Vietnam as well as the countries participating in the initiative to the process of building a common voice on green and sustainable growth. This is also the message that Vietnam sends to the international community, all policies and actions of the Government are people-centered, through policies, laws to serve the interests of the nation, the people and contribute to humanity.

For the above reasons, it can be affirmed that the theme of P4G Vietnam this time is completely consistent with the general trend, and also clearly reflects Vietnam's policy of always considering people as the center of the Government's activities.

Korea is one of the leading countries in green growth, with examples of green cities, green investment funds, green technology, etc., which are in line with the trend that Vietnam is promoting in the upcoming breakthrough development period. What lessons can Vietnam learn from Korea in this field?

Unity in principles, consistency in policies, inclusiveness in implementation, patience and creativity in actions are the fundamental methods being applied by Korea to achieve its green growth goals.

Green and sustainable growth is considered a common goal, agreed upon by the whole society, and unchanged in all situations. Based on this policy, the Korean Government has successively introduced policies to realize it. With the motto of flexibility and creativity, these policies have spread widely, gradually becoming recognized standards in society.

The Green New Deal, which aims to be carbon neutral by 2050, is a case in point. To implement it, the government uses tax tools to provide financial support to businesses developing green technology. At the same time, the government also sets up a green investment fund for energy, transport and circular economy projects. Next, the government also promotes green finance policies, encouraging financial institutions to issue green bonds and invest in environmentally friendly sectors.

At the local level, Korea has built many smart cities with sustainable models, such as Songdo and Incheon. These cities have applied digital technology and artificial intelligence to optimize urban planning, transportation systems and renewable energy use. These activities, combined with common standards, have been and will be resources for Korea's net emission reduction process.

For businesses, Korea is at the forefront of developing a circular economy, reducing plastic waste and recycling. Waste management, circular economy models in industries, especially textiles, food processing and manufacturing. In response, businesses are also promoting the development of environmentally friendly products.

Thus, consistency, harmony, creativity combined with reasonable, rational and effective public-private cooperation is the answer to green development and sustainable growth in Korea.

Songdo is one of the smart cities with a sustainable model, typical of Korea. (Source: HBS)

How does the Ambassador feel about the investment trend of Korean enterprises in the green economy sector and what requirements does Vietnam need to meet to attract investment from your business?

Vietnam has entered a new era of strong development and comprehensive expansion. Foreign investment is a bright spot. In particular, green growth has attracted the attention and participation of many countries. South Korea - a comprehensive strategic partner of Vietnam is one of the leading countries in green growth projects in Vietnam.

However, it is also necessary to recognize that there is still much room for development.

First of all, it must be affirmed that this is a "two-way street". The Vietnamese government as well as Korean enterprises need to have a comprehensive, practical and effective approach, harmoniously combining green growth with socio-economic development in harmony with the capacity of each side.

To achieve this, a complete legal framework in all aspects is of particular importance, as a premise for investment and a foundation for business development. This cannot be considered the “private matter” of the Government; contributing constructively and participating actively is also the responsibility of businesses.

Prioritization, standardization, and technology transfer are also urgent issues that need to be addressed in dialogues between the Government and businesses. In fact, large Korean corporations such as Samsung, LG, Hyundai, and Hanwha have been participating in these activities. However, small and medium-sized enterprises are also indispensable and play an important role in participating in policy making.

Only knowledgeable and well-trained people can successfully implement green growth policies, thereby ensuring sustainable development of the country. Therefore, the human factor must be given top priority in cooperation in general, and Vietnam-Korea in particular.

As members of multilateral cooperation mechanisms, including ASEAN-Korea, the United Nations, APEC, and P4G, how can the two countries coordinate to promote green growth policies?

As mentioned, green growth and sustainable development are common goals of many countries. A country cannot “go it alone” or “develop on its own” but must have dialogue and cooperation. International organizations and regional institutions are the places that foster dialogue and cooperation.

Organizations such as ASEAN, the United Nations, APEC, etc. are “playgrounds” for countries to test and promote their policies, and are also “gathering points” for many ideas of coordination. At these forums, within the established frameworks, Vietnam and Korea have continuously exchanged, regularly dialogued and continuously cooperated.

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It can be recalled that Vietnam is the country that has taken the lead in upgrading ASEAN-Korea relations to a Comprehensive Strategic Partnership. Green growth, sustainable development, and comprehensive transformation are the key contents in the action plan to implement this relationship.

One of the ideas that Vietnam can propose to co-sponsor with Korea in ASEAN is to organize forums and joint activities between ASEAN and Korea on this content. In that way, the efforts of each country will be discussed, evaluated and applied on a broader scale, contributing to the process of building a common voice on sustainable development, while preparing for further steps, entering the large, global "playground".

In addition, models like P4G will carry new responsibilities, be a new "brushstroke" for a diverse and colorful picture of cooperation towards a better world for the people of each country.

Thank you very much Ambassador!

Source: https://baoquocte.vn/hoi-nghi-thuong-dinh-p4g-2025-net-co-moi-cho-buc-tranh-da-mau-ve-hop-tac-vi-tuong-lai-310117.html