HCM City (VNA) - Vietnam and the European Union (EU) are key partners in green transition and sustainable development, said participants at a plenary session of the Green Economy Forum and Exhibition (GEFE 2024) jointly organised in Ho Chi Minh City on October 21 by the European Chamber of Commerce in Vietnam (EuroCham) and the Ministry of Industry and Trade.
Addressing the event, Deputy Prime Minister and Minister of Foreign Affairs Bui Thanh Son highly valued the organisation of GEFE 2024 in HCM City — one of the leading localities in the country in green transition, saying that the forum has become one of Vietnam's largest and most prestigious annual events, serving as a model for public-private cooperation in green growth.
According to Son, green economic development remains an inevitable trend, and an objective and strategic choice for nations. To build a green future, it is essential to adopt a green mindset and green vision, combined with green actions, where green technology, green energy, and a green lifestyle are crucial. Vietnam is committed to not sacrificing social progress, equality or the environment in pursuit of economic growth.
Vietnam hopes that the EU will promote sustainable trade and develop green supply chains through the effective implementation of the EU-Vietnam Free Trade Agreement (EVFTA), while soon ratifying the EU-Vietnam Investment Protection Agreement (EVIPA) to develop bilateral cooperation commensurate with the potential and aspirations of the two sides, Son said.
He proposed studying and implementing several projects to promote public-private partnership models and multi-stakeholder cooperation in green transition, saying that Vietnam hopes that the EU will continue to support the Southeast Asian country in areas such as finance, technology, and human resource training, and share experiences in developing the carbon credit market, establishing research centres in emerging fields such as green renewable energy, green infrastructure, digital transformation, smart agriculture, and low-emission industries.
The official also suggested the EU continue providing official development assistance (ODA) funding for Vietnam, focusing on urgent areas such as enhancing public governance capacity, green economy, digital economy, and circular economy.
Bruno Jaspaert, Chairman of EuroCham Vietnam, stated that the EU, as one of Vietnam's key trade and investment partners, has made certain achievements in green transition, but these efforts are not enough as Vietnam still boasts significant potential for growth.
Deputy Minister of Industry and Trade Phan Thi Thang stressed that the active cooperation between Vietnamese and EU business communities is a crucial foundation and driving force for promoting the recovery and development of a green and sustainable economy, aiming for the goal of net-zero emissions by 2050, as committed by both the EU and Vietnam at COP26.
GEFE 2024 offers a good chance for Vietnam and the EU to share mechanisms and policies in areas such as energy efficiency, sustainable finance, carbon emission reduction, circular economy, food, agriculture, tourism, digitisation and new technologies, as well as water security issues, helping the Vietnamese and EU business communities explore mechanisms, policies, laws, regulations, and standards aimed at achieving green and sustainable development goals in the near future.
Margaritis Schinas, Vice President of the European Commission, stated that the EU is currently a leading trade and investment partner of Vietnam and the two sides have made efforts to ensure stable and sustainable development, adding that with close and comprehensive cooperation, the Vietnam-EU partnership provides numerous opportunities for green transition.
Chairman of the HCM City People's Committee Phan Van Mai said the southern hub is strongly restructuring its economy, transitioning its industry towards green growth and sustainable development, with an immediate goal of reducing emissions by 10% by 2030.
GEFE 2024 is expected to provide the city with additional information, experience, and resource connections to promote green growth and sustainable development through sharing experiences in building high-productivity, circular economy models and effectively utilising resources and renewable energy, thus helping the city effectively implement its green growth action plan and realise its set socio-economic development goals in a green, sustainable, and inclusive manner, Mai said./.
