Vietnam Today

At the 5th National Environment Conference, held by the Ministry of Natural Resources and Environment on August 4, Deputy Prime Minister Le Van Thanh emphasized that having a green economy, a circular economy, and a low carbon economy is the best way to ensure sustainable economic development, and that the environment would not be sacrificed for growth.

According to UNDP Resident Representative to Vietnam, Ms. Caitlin Wiesen, Vietnam has demonstrated its ability to achieve critical net-zero emissions targets in a short period of time. However, an innovative and dedicated climate finance strategy is needed to facilitate green financial flows from all sources for investment and development.

The Ho Chi Minh City Statistics Office has reported that the city’s Index of Industrial Production (IIP) increased 0.9 per cent in July compared to June and 53.2 per cent year-on-year. Total budget revenue in the city in the first seven months of 2022 represented 73.2 per cent of the annual estimate and increased 20 per cent year-on-year.

On August 3, at the regular government meeting for July, Prime Minister Pham Minh Chinh said the socio-economic situation in the first seven months of the year continued to be stable and prosperous in most fields. The macro-economy is also stable, inflation is under control, growth is continuing, and balances in revenue - expenditure, exports, imports, food, energy, and labor are guaranteed.

Many new regulations relating to traffic, urban areas, the environment, and support for the poor, such as the implementation of automatic toll collections on all expressways, granting the right to exploit information on housing, and support for the poor to build houses will become effective in August.

Vietnam’s southern region, which is to take the lead in renewing the country’s economic growth model, will pilot the development of the green economy and the circular economy. The region’s greatest challenges are capital and institutions. To develop the green economy in Vietnam in general and in the southern region in particular, it is necessary to develop a law on the circular economy.