To develop a biodiversity economy, Vietnam needs to maintain connections between domestic and international organizations along with mobilizing financial resources from the public and private sectors.
The Ministry of Natural Resources and Environment has said that Vietnam will apply a roadmap to start to phase out hydrofluorocarbons from 2024 under international commitments, moving towards an 80 per cent reduction in base consumption by 2045. The country will cease importing hydrofluorocarbons by 2040.
According to the Directorate of Fisheries, the orientation in the fisheries industry is to reduce the catch and increase the output of marine aquaculture. To meet the target of seafood export turnover reaching $14-16 billion by 2030, it is necessary to introduce a major change in management along with preferential policies that are strong enough to support a large-scale aquaculture industry.
The “ASEAN Bridge ++” forum, with the theme “Connecting for Sustainable Development”, will be held on September 9 in Ho Chi Minh City. Its goal is to promote trade in the ASEAN++ region, expand opportunities for multi-directional links, and facilitate trade for businesses to develop the region’s economy through business matching events. It also hopes to promote a green circular economy based on sustainable development.
On September 7, while participating in the Eastern Economic Forum in Vladivostok, Russia, via a video-recorded speech, Prime Minister Pham Minh Chinh affirmed that Vietnam has actively participated in multilateral initiatives, including regional and inter-regional economic links, and is ready to make active contributions to economic recovery and sustainable development in the Asia-Pacific.
Mr. Rahul Kitchlu, Program Leader for Infrastructure and Lead Energy Specialist at the World Bank (WB), offered six solutions for Vietnam to achieve green growth and sustainable development. These include improvements in planning energy network expansion and the regulatory framework for procurement, to ensure low-cost renewable energy supply; pouring public investment into the power grid; and promoting electricity transmission and trading between regions.
The Ministry of Agriculture and Rural Development has suggested that it is necessary to strengthen international cooperation in the conservation and sustainable development of national parks. At the same time, national park management need to be creative in attracting visitors, combining tourism and environmental education. The General Department of Forestry is now completing a project on developing eco-tourism, resorts, and entertainment at national parks in the 2021-2030 period.
The Embassy of Sweden in Vietnam, the Ho Chi Minh City People’s Committee, and the Vietnam Chamber of Commerce and Industry (VCCI) organized the “Pioneer of Breakthroughs” program in sustainable development on June 2 and 3. The program included a technology exhibition and green technology products from Sweden, and seminars on sustainable energy, sustainable production, sustainable consumption, and sustainable raw materials. It was an opportunity for all parties to seek new ideas and new ways of thinking and better solutions to challenges to develop together sustainably.
Sharing their experiences on practical issues for Vietnam in sustainable development at the “ESG - A business model for sustainable development” conference, the four Nordic countries - Denmark, Finland, Norway, and Sweden - said they believe that high-quality FDI capital will go to developing economies with an emphasis on compliance with ESG (Environment, Society and Governance) principles. This will be both a challenge for and key to Vietnam’s development.
The corporate bond market is expected to continue to develop this year, with expansions seen in the size and diversity of products and with an increasingly complete legal framework that ensures sustainable development. Low interest rates will also work in the market’s favor.
In its capital arrangement plan to 2030, HSBC commits to financing $12 billion to help Vietnam achieve net-zero emissions. It was the underwriter of green bonds, social bonds, sustainable bonds, and sustainability-linked bonds last year, and is Asia’s largest, with a trading volume nearly double compared to 2020.
Mr. Duc Phung, CEO of Gojek Vietnam, spoke with VET about the company’s approach to transportation and pursuit of sustainable development amid the pandemic.