Vietnam Connect Forum 2024: Roadmap to Navigating Vietnam's Green Economic Shift

The 4th Vietnam Connect Forum 2024 buzzed with a clear message: Vietnam is accelerating its green economic transition, and businesses need to adapt.

High-ranking officials from the government and the Communist Party outlined the nation's ambitious goals, including revised energy plans, a push for clean technology, and a commitment to reaching net-zero emissions by 2050.

The forum, however, went beyond high-level pronouncements. According to Dr. Chu Van Lam, Editor-in-Chief of Vietnam Economic Times, it delved into the practical challenges and opportunities facing businesses and local authorities as they embrace sustainability.

"This forum is your guide to the latest policies, strategies, and the on-the-ground realities of greening Vietnam's economy," he stated.

Navigating the Green Shift

Attendees received a roadmap for navigating this new landscape. Central government leaders and the Central Economic Commission shared insights into national policy directions, while local authorities presented their implementation plans. Businesses showcased successful green transformation case studies, offering valuable lessons for others to follow.

This multifaceted approach underscores how intertwined Vietnam's green future is with policy alignment, local execution, and business innovation. Greening an economy isn't just about top-down mandates; it requires a collaborative effort across all scales.

External & Internal Pressures

Vietnam's green push is driven by both necessity and opportunity. Dr. Lam notes that the looming threat of carbon border taxes by key trade partners adds economic pressure to decarbonize. Staying competitive in a changing global market hinges on making sustainability a priority.

Golden Dragon Awards: A Green Benchmark

The Golden Dragon Awards, a key feature of the forum, reinforce this message. This year's awards honored foreign-invested enterprises excelling in areas like green production, low-emission practices, and the principles of ESG (environmental, social, and governance standards).

This sends a signal to both domestic and international investors that Vietnam's business environment is rewarding those that embrace sustainability.

Collaboration for Success

Underscoring the collaborative spirit of the transformation, the forum saw a memorandum of cooperation on green transition signed between the Vietnam Economic Times and the Ministry of Natural Resources and Environment. This kind of partnership is seen as crucial for aligning policy with practical solutions and fostering a supportive business climate for green growth.

The Transformation Test

Vietnam's economic rise has been undeniable. However, maintaining momentum with a green model will require unwavering commitment. The Vietnam Connect Forum 2024 provided a platform for navigating Vietnam's green transformation. The question now is whether businesses, policymakers, and local authorities will turn the roadmap provided into lasting change.