Vietnam business forum discusses mobilising resources for green transition

Vietnam needs international support, financial cooperation, cutting-edge technology and high-quality personnel to serve its green transition, Prime Minister Pham Minh Chinh told abusiness forum in Dubai on December 2.

The Vietnam Business Forum, themed “Mobilising Resources for the Green Transition”, was jointly held by the Vietnamese Ministry of Planning and Investment, the Vietnamese Embassy in the UAE and the Global Wind Energy Council.

It saw the attendance of representatives from the COP28 Organising Committee and nearly 200 leaders of the United Arab Emirates (UAE), international organisations, businesses operating in the fields of energy, manufacturing, finance and banking, and investment funds.

PM Chinh briefed the participants on Vietnam’s situation, stressing the country will not trade social progress, equality and welfare, as well as environment for economic growth.

He highlighted that the country is focusing on developing digital economy, green transition, circular economy, knowledge-based economy, and sharing economy, with science, technology and innovation taken as new driving force, and green transition an objective and strategic choice.

Vietnam will focus efforts on building socio-economic development plans in accordance with its distinct potential, outstanding opportunities, and competitive advantages, while providing legal support for businesses, removing their obstacles, and protecting their legal and legitimate rights and interests, he pledged.

He used the occasion to call on partners to continue their support for Vietnam’s green development in the spirit of "harmonious benefits, shared risks."

At the forum, leaders of international organisations and businesses commended the investment environment in Vietnam, especially the country's green development strategy, and shared the view that Vietnam boasts great potential for renewable energy development, especially wind energy.

The delegates engaged in in-depth discussions on accelerating green transition in Vietnam by optimising its wind power energy potential, and proposed policies and solutions in this regard, including measures to encourage the financial sector to participate in the green transition process and necessary conditions to mobilise large-scale financial funding.

Many cooperation agreements were inked at the forum, covering aviation, carbon credit transactions and carbon emission reduction, and trade collaboration.

VNA-THANH BINH