A floating solar farm in Binh Thuan province. (Photo: VNA) The new criteria would serve as a foundation for governmentalministries, agencies, local authorities and industry to filter and selectinvestment projects, as well as to allocate resources, said Deputy Minister ofPlanning and Investment Nguyen Thi Bich Ngoc.
Investors should refer to the criteria as a guideline forgovernmental preferential policies and available financial resources.
Ngoc said developing green industries remained a top priority forthe Vietnamese government as part of the country's commitment to global effortsto fight climate change. Following the 26th UN Climate Change Conference(COP26), the National Green Growth Strategy for the 2021-2030 period with avision to 2050 has been approved by the Prime Minister.
She said the strategy was to play a vital role in the SoutheastAsian country's objective of net-zero emission by 2050, and its NationallyDetermined Contributions (NDC), self-defined national climate pledges under theParis Agreement.
Major stakeholders such as governmental ministries and agencies,local authorities and industrial sectors would be required to do their parts inthe promotion of the country's shift to sustainable and clean energy, thedevelopment of energy-efficient industrial zones and electric vehicles.
The ministry stressed the importance of foreign investors andstronger cooperation and exchange of ideas, technologies and financialresources.
Ngoc said greener industrial development was a global movementthat should be embraced by all, especially developing nations despite currentchallenges and limitations.
The MPI advised the government to quickly establish a businessenvironment that is conducive to sustainable and green development withpolicies and tools designed to encourage and mobilise financial resources fromall stakeholders, including the private sector.
In addition, growth could only be achieved and sustained byfocusing on creating breakthroughs in efficient energy management, limiting theproduction and consumption of fossil-fuel-based transportation, building greeninfrastructure, carbon-neutral structures, construction materials, and wastemanagement.
In order to speed up the process, the ministry stronglyrecommended a solid legal framework to be put in place in the near future, aswell as strong incentive programmes to attract investments.
Meanwhile, the country's economy must also start viewing its greendevelopment as part of the international community and therefore, Vietnam'slegal mechanisms and policies must be in line with that view.
Ngoc said MPI had been instructed by the central government tostart making a plan to introduce stronger incentives to encourage internationalorganisations and partners to take a more proactive part in the development ofgreen industries in Vietnam.
In recent decades, Vietnam has been at the forefront of greendevelopment among the world's developing nations as the country pushed forgreater investment in renewable energy, environmental protection, circulareconomy, sustainable agriculture and green infrastructure while signing up fornumerous international agreements on reducing carbon footprint and climatechange.
In the recently approved Power Development Plan 8 (PDP8), thecountry aimed to draw a minimum of 30.9% of its energy from renewable sources,increasing to 67.5% by 2050./.
VNA
