To meet new requirements, Vietnam must make way for a green economy, a press conference on GEFE 2022 (Green Economy Forum & Exhibition) in Hanoi on October 3 heard.

GEFE 2022 is being organized on November 28-30 and is expected to support Vietnam in reaching the commitments it made at the UN Climate Change Conference (COP26) and achieving targets in the National Strategy on Green Growth 2021-2030, according to Mr. Alain Cany, Chairman of EuroCham Vietnam.

Europe has 20-30 years of experience in green transition. Before the idea of a green economy became a major topic, European businesses had already introduced green technologies in Vietnam, Mr. Cany said. For example, Heineken has reached zero-carbon emissions in their local breweries.

Vietnam is also forecast to take less time to reach green targets compared to European countries, said Mr. Christoph Prommersberger, Deputy Head of Mission at the Embassy of the Netherlands in Vietnam. Vietnam is growing rapidly but facing many challenges, and could learn from the experience of European countries.

Large financial resources are required to create a framework to support the process. Therefore, the EU is working with the Vietnamese Government to create a suitable framework that allows Vietnamese businesses to participate in the green transition. H.E. Giorgio Aliberti, Ambassador of the European Union in Vietnam, suggested that there needs to be a general orientation towards the future.

“There are more European companies that are eager to support Vietnamese firms to meet green requirements, thus supporting their partners’ businesses,” said Mr. Prommersberger.

On this occasion, the Vietnam Trade Promotion Agency (VIETTRADE) signed an MoU with EuroCham on co-organizing GEFE 2022 and strengthening links between the Vietnamese and European business communities.