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together can make a high mountain.”
INTERVIEW that promote both environmental sus-
Vietnam must prioritize inclusive policies
tainability and social equity.
Path to global to the national power grid is still a critical
For remote communities, connection
enabler for socio-economic development,
green leadership but local clean energy production like
small hydroelectricity or solar are becom-
ing more cost-effective.
Workers in carbon-intensive industries
Professor Ha Duong Minh, a Vietnamese-French scientist all over the world legitimately seek “just
and former senior researcher at the French National Center transition” support programs. The offshore
for Scientific Research (CNRS), tells VET about Vietnam’s oil and gas industry has a clear path
potential in the transition to clean energy. towards offshore wind. The coal power
sector has more time to turn around,
since power plants are relatively new, but
the coal exit is already being acted upon
in government plans so nobody should
be surprised.
Finally, social safety nets should be
maintained and improved, especially
regarding energy affordability for poor
households.

% What specific action do you recom-
mend Vietnam take to achieve break-
through success?
Just as the “Doi Moi” reforms unleashed
Vietnam’s economic potential, a bold
approach to energy transition could cat-
alyze transformative growth. Vietnam
should focus on implementing its power
development plan, rapidly deploying
proven renewables like solar and wind,
with the goal of having solar panels on
over half of all rooftops by 2030. Piloting
innovative solutions such as battery
gigafactories and smart grids is crucial,
while fostering a startup ecosystem for
% Can you share your perspective on There are three key strategies for Viet- cleantech innovation and entrepreneur-
Vietnam’s role in the global landscape? nam to build a thriving green economy: ship is also essential.
Vietnam is a model country in socio- 1 Fix simple rules to encourage investing
economic development for this generation in natural energy sources; % As an expert on energy transition,
and is well-placed to become a world 2 Train people with the skills needed should Vietnam expect a breakthrough
example in sustainable development. With for jobs in environmentally-friendly in attracting investment in power source
its strategic location, vibrant economy, industries; conversion? What does it need to do
and commitment to green growth, it can 3 Work with other countries to obtain to attract investors into the field of
showcase how best to achieve rapid eco- funding for and knowledge on envi- renewable power sources?
nomic progress while transitioning to a ronmental projects. With the right policies, Vietnam has
low-carbon future. By tapping its abun- By creating an attractive environment enormous potential to attract renewable
dant renewable energy resources and col- for green investment, Vietnam can attract energy investment. There is plenty of
laborating with international partners, it the necessary funds - more than $10 incoming solar energy and wind offshore.
has the potential to inspire other devel- billion a year - for clean energy and sus- Now is the time to not only talk well
oping countries and demonstrate that a tainable infrastructure projects. but also act well, as another Vietnamese
green economy is not only possible but As the saying goes, “If you build it, proverb has it. The key to attracting
also prosperous. they will come.” investment is to lower the risk, since
this translates directly into a lower cost
% Given your background and experi- % What policies and initiatives should of capital. This has to be done by imple-
ence in sustainable development eco- Vietnam prioritize to achieve sustain- menting stable, transparent policies.
nomics, what strategies do you believe able development without compromis- Once the first three projects are prof-
are essential for Vietnam to thrive amid ing social well-being? itable, a pipeline of bankable projects
rapid change? How can Vietnam take A fair plan for changing to cleaner will follow. By signaling a clear com-
advantage of green finance from inter- energy will make sure everyone benefits. mitment and creating an enabling envi-
national investors to develop a green As the Vietnamese proverb has it, “One ronment, Vietnam can unlock a wave of
economy and create sustainability? tree cannot make a hill, but three trees green capital.

26 Vietnam Economic Times April 2024 en.vneconomy.vn