Business community takes responsibility for sustainable development

The conference, themed Taking Responsibility, Taking Action, is a response to climate change and the need for sustainable development among the Vietnamese authorities and business community.

Deputy Minister of Planning and Investment Tran Quoc Phuong highlighting the pressure created by transforming development methods

Speaking at the opening session of the conference, Deputy Minister of Planning and Investment Tran Quoc Phuong highlighted the pressure brought by transforming development methods, especially the commitment to net-zero emissions by 2050. This comes in the context of resource and energy shortages, low levels of sci-tech development, and the associated economic risks.

VIR’s editor-in-chief Le Trong Minh said that the world is going through unprecedented difficulties. The pandemic, strategic competition between major countries, the Russia-Ukraine conflict, natural disasters, and climate change have all caused the global economy to stagger.

VIR’s editor-in-chief Le Trong Minh at the opening session

“In such a situation, implementing the United Nations' Sustainable Development Goals and the net-zero commitment becomes an even greater challenge. For Vietnam, this road is even more bumpy and difficult,” Minh said.

But green growth and sustainable development are inevitable trends that any country must implement to mitigate climate and environmental problems while ensuring socioeconomic development.

“Vietnam is no exception. With only 27 years left to realise its ambitions, if it does not act now, it will fall behind globally,” he added.

As a developing country, there are still many difficulties. However, Vietnam has made commitments to respond to climate change, so it needs appropriate roadmaps and support. This includes assistance from developed countries and partners in terms of capital, human resource training, institutional building, technology, and administration.

“At the same time, we also need a business community with a strong awareness of responsibility and the need to be proactive, even when facing great difficulties in terms of finances and manpower,” Minh added.

Deputy Minister Phuong outlined key measures to promote and transform the implementation of sustainable development, including improving the quality of socialist-oriented market economy institutions and enhancing the efficiency and effectiveness of policy implementation through public administration reform and the participation of disadvantaged groups in the decision-making process.

He also stated the need to continue to prioritise investments in human resource development, sci-tech, innovation, and the completion of a synchronous and modern infrastructure system to improve productivity, stabilise the macroeconomy, and mobilise the financial resources that are required for sustainable development.

The country also needs to continue promoting the reform of the social security system to ensure increased resilience and support for vulnerable groups, developing both the culture and society to realise social justice.

Finally, focus should be placed on the effective management and use of resources, strengthening environmental protection and the climate change response to mitigate natural disasters. This must be achieved while promoting the development of a green and circular economy, strengthening international cooperation, and enhancing awareness to promote cooperation among relevant parties and create a spillover effect when implementing the sustainable development goals.

Sustainable development conference to take place in Hanoi On November 16, Vietnam Investment Review will host its Sustainable Development 2023 conference, themed Taking Responsibility, Taking Action.

Live: Sustainable Development 2023 conference In response to climate change, sustainable development has become an imperative for the world. This includes Vietnam, which is one of the five most vulnerable countries to climate change.