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COVER STORY

VIETNAM FORGES AHEAD

WITH GREEN TRANSFORMATION

At the Vietnam Connect Forum 2024 held on April 10, Deputy Prime Minister
Tran Hong Ha outlined the nation’s ambitious plans for sustainable development.

By DINH PHAM TRAN

n a stirring address at the Vietnam Con- among them is agriculture, which he
nect 2024, Deputy Prime Minister Tran believes holds immense potential to
I Hong Ha outlined the nation's ambitious become a shining example of sustainable
plans to transition to a green, low-carbon development.
economy, underscoring the urgent global "Vietnam's agriculture will forever have
imperative and Vietnam's steadfast com- its own values and Vietnam's agriculture
mitment to sustainable development. and food will always be. The world will see
The Deputy Prime Minister empha- the role of Vietnam in the sectors," he pro-
sized the global significance and sheer claimed, highlighting their ability to reduce
urgency of the green economy agenda in greenhouse gas emissions while unlocking
his keynote remarks. Member of the Party Central new opportunities for carbon trading.
H.E. Mr. Tran Hong Ha
As the bustling port city of Hai Phong Committee, Deputy Prime Minister The energy sector, too, is a focal point,
played host to the 4th Vietnam Connect of the S.R. of Vietnam with Vietnam setting its sights on becoming
Forum on 10 April, a palpable sense of a renewable energy hub. Mr. Ha outlined
momentum and purpose filled the air. plans to harness offshore wind power and
Deputy Prime Minister Ha took center Equally daunting is the financial explore the transition to hydrogen- based
stage before an international audience of conundrum. fuels, underscoring the government's com-
300 businesses, authorities and organiza- "How can global financial institutions mitment to diversifying the energy mix
tions, his words carrying the weight of respond to the alliance between govern- and phasing out reliance on fossil fuels.
Vietnam's unwavering resolve to forge a ment and business toward green and sus- The Deputy Prime Minister underscored
new path towards a sustainable future. tainable growth?" Mr. Ha questioned, the critical role that businesses and citizens
calling for new mechanisms to mobilize must play in driving Vietnam's green trans-
the resources necessary to fund the green formation in a show of agreement with
A Global Imperative,
transformation. Hai Phong's Party Chief Le Tien Chau,
A Vietnamese Commitment
"The world's greatest challenge is the who had said earlier at the forum that
challenge of choice on the model of growth," "businesses must take the lead."
Prioritizing Green Transition
he declared, "and it is time for us to see in Key Sectors "The businesses we encourage are
that the paradigm has evolved." The Deputy Prime Minister went on those who share our commitment to green
No longer can nations rely solely on to emphasize that no single entity can and sustainable growth. A key priority is
the exploitation of natural resources, he solve these global problems alone, stressing partnering with companies willing to
argued, as the prevailing economic models the need for a collaborative approach invest in research and development, trans-
have led to deepening inequality, envi- that brings together governments, busi- ferring technology to advance these goals.
ronmental degradation, and the looming nesses, and the international community. Without green research, green imple-
threat of climate change. "No single country can tackle this chal- mentation and development are impos-
But Vietnam, he asserted, has made lenge independently. Only by working in sible," Mr. Ha emphasized.
its choice. "For the first time, we have unison can we hope to achieve our goal of "We should phase out investment based
included it in the resolution of the Party limiting the Earth's temperature rise to on low-cost labor and land," he stated
Congress, i.e. the will of the Vietnamese 1.5 degrees Celsius and preventing a cata- adamantly. "We must set green and sus-
people nationwide. Choose a clean econ- strophic three-meter sea level rise," he tainable criteria, and they will be our cri-
omy model. Circular economy." declared, emphasizing the absolute neces- teria in attracting foreign investment."
This unequivocal commitment, he said, sity of collective action. "A three-meter Equally important, he added, is the
has been further reinforced through a rise in sea level would spell the end of civ- need to empower local communities and
raft of national strategies and policies ilization as we know it." individuals as agents of change. "If we
aimed at driving the green transition. Within this framework, Mr. Ha outlined can do business perfectly, then everyone
Yet, Mr. Ha acknowledged that the Vietnam's efforts to forge strategic part- will have an approach," he said.
path to a green economy is fraught with nerships, both regionally and globally. As the Deputy Prime Minister extended
challenges. Chief among them are the From the country's engagement with his strategies, he called for a collaborative
technological and financial barriers that the ASEAN-Japan cooperation on carbon effort to chart a clear roadmap for Viet-
stand in the way. neutrality to its pioneering initiatives in nam's green transition.
"Nowhere, and I have worked with G7 offshore wind power with Singapore, Viet- "This conference needs to move beyond
countries, has ever told me that it is ready nam is actively seeking innovative ways mere discussion and focus on how we
for green technology," he lamented, high- to drive progress, he said. can assist the government in fulfilling its
lighting the pressing need for Vietnam to Deputy Prime Minister Ha also pointed mission,” he said. “We must listen to busi-
secure access to the critical innovations that to specific sectors where Vietnam is poised nesses, citizens, and all stakeholders to
will power the renewable energy revolution. to lead the green revolution. Critical drive innovation.” %

10 Vietnam Economic Times April 15, 2024 en.vneconomy.vn