Green Growth - Global Trend, Inevitable Choice

Kinhtedothi - On November 28, the Government Electronic Information Portal organized a discussion on "Green Growth - Global Trend, an Inevitable Choice".

Participating in the discussion, representatives of ministries, localities and enterprises all affirmed that green growth is an irreversible trend and an inevitable choice for Vietnam to achieve sustainable development goals in the future.

Guests attending the seminar "Green growth - Global trend, inevitable choice".

Green growth is not only a goal but also a strong commitment of Vietnam to the international community in minimizing negative impacts on the environment and moving towards the Net Zero target by 2050.

Green growth is the strategic orientation of the Government.

Sharing at the Seminar, Mr. Le Viet Anh, Director of the Department of Science, Education, Natural Resources and Environment (Ministry of Planning and Investment) said that the Government has issued the National Strategy on Green Growth for the period 2021-2030, with a vision to 2050, and at the same time developed national action plans to promote the application of green solutions in all economic sectors.

These include financial and non-financial incentive policies for businesses participating in this process such as tax incentives, financial access and interest rate regulations... to implement sustainable development projects.

Referring to the impact of new-generation free trade agreements on promoting green growth in Vietnam, Mr. Quach Quang Dong, Deputy Director of the Department of Energy Efficiency and Sustainable Development (Ministry of Industry and Trade) said that the FTAs ​​that Vietnam is currently participating in such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Vietnam-EU Free Trade Agreement (EVFTA) not only open up export opportunities for Vietnamese enterprises but also require enterprises to improve product quality and meet stricter environmental standards.

This poses a major challenge for businesses in maintaining a competitive price advantage while still complying with international environmental standards.

Therefore, the transition to a green growth model is not only a trend but also an inevitable requirement for Vietnamese enterprises to integrate and develop sustainably in the global economic environment.

Support from local authorities and business community

Green growth not only requires efforts from the Government but also requires the companionship and creativity of localities and the business community in developing green business models and building a long-term sustainable development strategy, towards a green and prosperous future for the country.

From a business perspective, Mr. Binu Jacob, General Director of Nestlé Vietnam Company, shared Nestlé's investment activities for sustainable development in Vietnam. Nestlé always places the issue of sustainable development at a high level of importance and priority.

One of Nestlé’s notable initiatives is to ensure sustainable sourcing of raw materials. For coffee – the industry in which Nestlé operates most strongly – Nestlé always ensures that the coffee Nestlé purchases from producers in Vietnam is of high quality and produced sustainably.

Through the NESCAFÉ Plan, Nestlé has supported more than 21,000 coffee farming households to switch to regenerative agriculture, reducing the use of chemical fertilizers and pesticides by 20% and saving 40-60% of irrigation water. Nestlé also saves water usage in all of its factories. Nestlé is currently 100% water neutral, meaning it returns and recycles 100% of the water used. To promote a circular economy, Nestlé is committed to developing sustainable packaging, with nearly 95% of Nestlé's packaging in Vietnam designed to be recyclable...

These activities not only help Nestlé reduce its environmental impact, but also raise public awareness and encourage other businesses to participate in sustainable development.

Locally, following the direction of the Government and the Prime Minister, Hung Yen province has shifted from a brown economy to a green economy.

Mr. Nguyen Hung Nam, Vice Chairman of the Provincial People's Committee, said that Hung Yen has actively implemented synchronous solutions to promote sustainable growth. In particular, the province focuses on infrastructure development, attracting investment and reforming administrative procedures to create favorable conditions for businesses to operate.

Hung Yen province has implemented important infrastructure projects such as the transport system connecting industrial zones, and invested in infrastructure such as water supply, electricity supply and social housing for workers. Environmental protection programs have also been implemented such as the Project on sustainable agricultural development and greenhouse gas emission reduction...

These results have helped Hung Yen not only develop strongly economically but also protect the environment, while contributing to Vietnam's common goal of achieving green growth commitments.

Building a legal framework for sustainable development

However, delegates also said that the current process of sustainable growth and green growth still faces many barriers and challenges. In particular, businesses cannot determine which incentive mechanisms they will enjoy. This not only affects investment decisions but also reduces the motivation of businesses to transform their business models to sustainable and green.

Changing technological lines or investing in green technology can be very costly. In addition, the lack of financial resources to support green transformation is also a major obstacle…

Referring to solutions in the coming time, from a business perspective, Mr. Binu Jacob said that "more needs to be done".

First is to improve the legal framework to further promote green growth and sustainable growth. Second, to develop human resources to be able to implement sustainable development and green development. Finally, it is necessary to build initiatives and models at the local level because the sustainable growth models and green growth models that we often see in the world must also be adjusted to suit each locality, not just copied and applied.

From the perspective of the industry and trade sector, Mr. Quach Quang Dong said that mechanisms and policies need to have comments, analysis, and evaluation, as well as recognition, encouragement, and support to increase awareness and orientation for sustainable consumption and production, towards green and clean goods and services. It is necessary to create motivation for businesses to take the lead, pioneer, hold leading positions, and lead, thereby spreading to attract other businesses to follow.

To support businesses, the Government, ministries and sectors need to supplement and improve mechanisms and policies to respond to the new context and situation of the world, while protecting the legitimate interests of businesses, creating favorable conditions for businesses to develop and limiting risks. Further strengthen close coordination between ministries and sectors as well as between the central and local levels.

Representative of the Ministry of Planning and Investment, Mr. Le Viet Anh also affirmed that one of the important tasks of the Government in the coming time is to perfect the legal framework for sustainable development and green growth.

In particular, Mr. Le Viet Anh emphasized the role of the national green classification system. This is an important tool to determine criteria and standards for green businesses and investment projects.

The Vietnamese Government has given clear instructions on the development of this system and currently relevant ministries and agencies are working together to develop a green classification system that meets international standards, while ensuring flexibility to update new technologies and green business models.
“We are committed that this system will create the most suitable and clear mechanism and policy for businesses, so that businesses know what conditions they need to meet and what incentives and incentives they will receive in the national policy mechanism. This green classification system will also ensure progress and can be flexibly changed or supplemented,” Mr. Le Viet Anh emphasized./.

Source: https://kinhtedothi.vn/tang-truong-xanh-xu-the-toan-cau-su-lua-chon-tat-yeu.html