The United Nations Development Programme (UNDP) announced a report titled “green growth and fossil fuel fiscal policies in Vietnam” at a meeting in Hanoi on June 16.
Presenting the main content of the report to participants, UNDP’s Policy Advisor in Economics Michaela Prokop acknowledged Vietnam’s commitments to promoting green growth, including the restructuring of the energy sector.
She underlined the significance of reforming fossil fuel fiscal policies, saying that it will help enhance energy productivity and supply resources and ensure national energy security.
Reform will also contribute to speeding up GDP growth, reducing fiscal burden and protecting the environment, Prokop added.
The report stressed that Vietnam’s recent efforts in its restructuring of the energy sector are expected to help the country implement a more sustainable growth model in the future.
Measures to protect low-income people and enterprises, who are usually affected by the price increase of fuel, were also set forth in the report.
The report, built on the studies of the Central Institute for Economic Management, the Vietnam Academy of Social Sciences, the Energy Institute, the Institute of Financial Strategy and Policy, the Gbobal Subsidies Initiative and the International Institute for Sustainable Development, is expected to importantly contribute to setting up a roadmap for further reform.
Presenting the main content of the report to participants, UNDP’s Policy Advisor in Economics Michaela Prokop acknowledged Vietnam’s commitments to promoting green growth, including the restructuring of the energy sector.
She underlined the significance of reforming fossil fuel fiscal policies, saying that it will help enhance energy productivity and supply resources and ensure national energy security.
Reform will also contribute to speeding up GDP growth, reducing fiscal burden and protecting the environment, Prokop added.
The report stressed that Vietnam’s recent efforts in its restructuring of the energy sector are expected to help the country implement a more sustainable growth model in the future.
Measures to protect low-income people and enterprises, who are usually affected by the price increase of fuel, were also set forth in the report.
The report, built on the studies of the Central Institute for Economic Management, the Vietnam Academy of Social Sciences, the Energy Institute, the Institute of Financial Strategy and Policy, the Gbobal Subsidies Initiative and the International Institute for Sustainable Development, is expected to importantly contribute to setting up a roadmap for further reform.
