Fostering ties with private sector in green growth

Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc

At the opening of the forum, Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc said that green growth and sustainable development are the focus of many countries, including Vietnam, which has been seeking a sustainable growth model for over a decade.

In 2012, the government issued the National Strategy on green growth for the 2011-2020 period with a vision to 2050, while the National Assembly amended and supplemented legal documents that created a foundation for sustainable development.

"The Ministry of Planning and Investment (MPI) advised the government to issue a new green growth strategy for the period of 2021 - 2030 and update the national action plan. This will contribute to Vietnam meeting its commitments ahead of COP26, through economically feasible solutions," said Ngoc.

The key point of the strategy is to harmonise the objective of emissions reduction with socioeconomic development. Therefore, ministries and branches are actively implementing green growth where practical by amending certain laws and creating more favourable financing conditions for green ventures.

"The Vietnamese government has identified the business community as being able to play an important role in implementation," said Ngoc. "While at this forum, we hope to provide useful information and listen to candid opinions, learn from practical experiences, and directly reflect on the obstacles faced by businesses. The business community and relevant government agencies will join forces to build a favourable business investment environment."

This has been the goal of the VBF for the past 25 years. Soren Roed Pedersen, co-chair of the VBF, agreed with the deputy minister. “This year, with the theme of public-private partnerships to foster green growth, we know this is a necessary but long path that will require changes to mechanisms and policies. There will be many challenges to share and discuss here," said Pederson.

The VBF's technical session consisted of 12 working groups to discuss matters including energy, the environment, investment and trade, the digital economy, and tourism, among others.

Some of the problems discussed at the forum under careful discussion were a new policy on electricity prices for renewable energy projects, land use rights for foreign businesses, and tax and customs recommendations.

The high-level session of the VBF will take place on March 19. Prime Minister Pham Minh Chinh is expected to attend.

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