Int’l conference discusses green finance for sustainable development

A wind and solar power project in Thuan Bac district, Ninh Thuan province (Illusstrative photo: VNA)

Hanoi (VNA) – An internationalconference was held in Hanoi on November 25 to seek the enhancement ofcooperation with global investment institutions to mobilise green finance for State-ownedenterprise (SoE) restructuring and sustainable development.

Pointing out changes in the globaleconomy and emerging trends like digital transformation, green transition, and there-shaping of supply and production chains, Minister of Foreign Affairs BuiThanh Son said it is of great necessity to establish equal partnerships, public- private partnerships, and multi-party partnerships to work towards sustainabledevelopment.

Multilateral development banks, developmentpartners, multinationals, and global funds are playing an increasinglyimportant role in providing green investment, green finance, and technologicaland human resources for development, he noted, adding that effectively mobilisingexternal resources to be combined with domestic ones to boost sustainablesocio-economic development is a target and also an urgent need of theVietnamese Government.

Aside from foreign direct investment,the country is also stepping up the attraction of green finance and capitalfrom investment funds to help accelerate economic restructuring, a focus ofwhich is SoE restructuring, and capitalise on new driving forces for greentransition and green growth.

Vietnam owns sufficient factors of apromising destination for green and sustainable investment and capital sources,the official went on, highlighting stable economic recovery after the COVID-19pandemic; an increasingly favourable investment and business climate with ayoung, creative, and highly adaptable workforce; and an economy extensively andsubstantively integrating into the regional and global economies.

At the event, participants suggestedsome policies for Vietnam to attract finance for sustainable development,introduced good practices in the public investment fund management connectedwith the SoE restructuring, and presented experiences in utilising public -private resources for green transition.

The conference was held by the Ministry of Foreign Affairs, the Committee for theManagement of State Capital at Enterprises, and the State Capital InvestmentCorporation./.

VNA