Deputy Prime Minister Hoang Trung Hai said on September 17 that it is essential to encourage cooperation between Vietnam and foreign partners, including the European Union, to conduct research into the development of green technologies.

He made the call at the opening ceremony of the “Green Biz 2009 – Europe’s green business methods for Vietnam” conference in Hanoi amid strong concerns that Vietnam is facing many environmental challenges together with a rapidly developing economy.

“If we do not begin to address the challenges that face us, future generations will suffer from their harmful effects,” stated Deputy PM Hai.

Vietnam is one of the countries hardest hit by climate change and rising sea levels, therefore, the Vietnamese Government is adamant that socio-economic development must go together with environmental protection, Deputy PM Hai added.

He praised “Green Biz 2009” as an important initiative which will help Vietnam to continue with its international integration process, create a balance between economic growth and sustainable development and facilitate business and investment ties between Vietnamese and European entrepreneurs.

Top on the agenda of “Green Biz 2009” will be several in-depth discussions on the development of green business in Vietnam including investment in clean energy sources, the management of sustainable water sources and the social responsibilities of businesses.

Chairman of the European Chamber of Commerce in Vietnam Alain Cany said the initiative will be of vital assistance to Vietnam , enabling it to conduct research into the environmental challenges it faces in the fields of energy, water supplies, transportation and construction.

The EU’s best solutions and practices will be introduced in a bid to support Vietnam ’s efforts to turn itself into a green country in the future, Cany added.

Vice Minister of Natural Resources and Environment Nguyen Thai Lai said that the development of green business methods is the way forward for Vietnam to develop its economy in the near future, which will create opportunities for foreign entrepreneurs to invest in environmental friendly businesses in the Southeast Asian nation.

The Vietnamese government has so far deployed a range of programmes to encourage businesses to introduce clean production methods and use energy efficiently, Vice Minister Lai added.

In the framework of the two-day “Green Biz 2009” conference, 50 leading European companies that develop green infrastructures took part in an exhibition to promote their environmentally friendly business methods./.