TẠP CHÍ ĐIỆN TỬ
Investment and green development the focus
On the path to achieving green growth and sustainable development, Vietnam needs to take advantage of all types of resources, including foreign investment and private investment.
In order to continue to grow rapidly and sustainably in the years to come, Vietnam must not only call for foreign investment but must strongly mobilize domestic resources and quickly transition to a “green growth” model, Mr. Ta Dinh Thi, National Assembly Deputy and Vice-Chairman of the National Assembly’s Committee on Science, Technology and Environment, told the Vietnam Connect Forum 2022 held by the Ministry of Foreign Affairs and Tap Chi Kinh Te Vietnam (VnEconomy) - Vietnam Economic Times on April 8.
Vietnam has shown its commitment to green growth in recent years, as demonstrated by its strategies, planning, and projects and the commitment it made to reduce emissions at COP26 in Glasgow. Prior to that meeting, the Prime Minister also approved the National Strategy on Green Growth for the 2021-2030 period and vision to 2050.
The Strategy set the goals of transforming the growth model towards “greening” economic sectors, applying the circular economy model, promoting innovation, digital technology application, and digital transformation, and sustainably developing infrastructure.
Moreover, many free trade agreements (FTAs) of which Vietnam is party also specify regulations and standards on green growth. It is clear that green growth is not only a long-term trend but also an immediate and urgent requirement of Vietnam.
According to calculations from the Ministry of Planning and Investment and the World Bank, the implementation of Vietnam’s green growth strategy by 2030 is expected to cost some $30 billion. The State budget can only meet around 30 per cent, with the remainder expected to come from the private sector, including the foreign business community.
Based of the above analysis, Mr. Thi emphasized that now is the time to work together to identify solutions to access resources, spread value, and accelerate effective green transformation. Policymakers, managers, leaders of localities, business experts, scientists, and businesses need to join hands to find new and feasible approaches to address the problems facing the green economy.
