Hanoi (VNA) – The Vietnamese Ministry of Finance, in coordination with Global Affairs Canada (GAC) through the Agency for Private Enterprise and Cooperative Economic Development (APED) and the Canadian Embassy in Vietnam, launched the project Advancing Growth Innovation and Leadership for Enterprises (AGILE) in Vietnam, at a ceremony in Hanoi on February 6.
Addressing the launch ceremony, Deputy Minister of Finance Do Thanh Trung said Vietnam is among the world’s most climate-vulnerable countries, as rising temperatures, sea-level rise and more severe extreme weather are increasingly affecting key economic sectors, livelihoods and food security.
Resolution No. 68-NQ/TW of the Politburo recognises the private sector as a core engine of growth, job creation and competitiveness, and a pioneer in steering the economy towards a green, circular and sustainable model, placing it at the heart of the Government’s green transition efforts through mobilised private investment and innovation.
AGILE is not only a testament to the long-standing and trusted strategic partnership between Vietnam and Canada, but also an important contribution to the Vietnamese Government’s efforts to promote innovation and sustainable growth within the private sector, thereby effectively mobilising private investment to realise inclusive and sustainable development goal, Trung stressed.
Canadian Ambassador to Vietnam Jim Nickel reaffirmed Canada’s commitment to supporting Vietnam’s green transition through innovative financing solutions, noting that under the project, GAC will partner with the Vietnamese Ministry of Finance, the World University Service of Canada (WUSC) and Sarona Asset Management to use official development assistance to de-risk projects and mobilise private investment.
The project focuses on strengthening the capacity of domestic business support organisations to deliver more effective services to climate enterprises, particularly women-led firms, so they are better prepared to attract investment and scale up, while aligning with Canada’s renewed international development assistance approach aimed at promoting shared prosperity through increased investment, green supply-chain linkages and expanded trade opportunities for Canadian and Vietnamese businesses.
Sam Landon, Senior Programme Director at WUSC - the project implementer, said AGILE follows a philosophy of continuous learning and adaptation, working alongside businesses, support organisations and investors to develop gender-responsive financial models and build a scalable knowledge and solutions network to bolster the resilience of Vietnam’s business ecosystem amid global challenges.
Funded by GAC, the project aims to increase the resilience of Vietnam’s populations vulnerable to climate change. It will drive ecosystem enhancements that lead to increased investment in and support for Vietnamese women-focused climate enterprises (CE), he said.
By supporting the growth of CEs - businesses providing solutions to climate adaptation and mitigation - AGILE seeks to address the disproportionate impacts of climate change on women and marginalised groups. The project aligns with Vietnam’s climate, economic, and gender equality strategies and engages local stakeholders to drive sustainable, gender-responsive business practices. Managed by WUSC and Sarona Asset Management, the project is expected to drive systemic change over the next five years.
Its activities focus on strengthen provision of enterprise growth support to climate enterprises, especially women-led SMEs; increased investment in gender-responsive and inclusive climate enterprises; and increased deployment of funds using a gender lens by climate investors.
Trung said the project launch marks a new phase of cooperation between Vietnam and Canada in promoting sustainable economic growth and strengthening climate change resilience./.
VNA
