Vietnam, Japan to cooperate on promoting green growth
Hanoi, The Gulf Observer: Vietnam needs to speed up approving large-scale projects to support green growth activities, said Kazuo Kusakabe, chief representative of Toshiba Asia Pacific.
Kazuo made the statement at a Vietnam-Japan research forum held by the Central Institute for Economic Management (CIEM) on Wednesday morning in Hanoi.
He noted Vietnam did not have much time to achieve its goal of net zero emissions by 2050 and should work towards a green economy while responding to climate change.
Director of CIEM Tran Thi Hong Minh told participants that over the years, the world has experienced major trends in the geopolitical situation, the Fourth Industrial Revolution, digital transformation and climate change.
Participants said that to handle the challenges of climate change and work towards green growth after the pandemic, over the years, Vietnam and other countries have recognised the need to promote international cooperation.
She said that Vietnam was recognised as one of the world’s most vulnerable to climate change, therefore, it has been proactive in conducting many solutions to minimise its impacts. At COP26, Vietnam had a strong ambition when it committed to net zero emissions by 2050.
In addition, commitments to sustainable development have also been included in new-generation free trade agreements (FTAs) such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA).
In order to handle the challenges of climate change, Vietnam has worked with Japan in the field of green growth. This cooperation is crucial for Vietnam.
It is said that Vietnam achieved many important results in cooperation with Japan in terms of investment, import-export, sustainable infrastructure development, and human resource development.
Statistics from the Foreign Investment Agency of the Ministry of Planning and Investment showed that Japan has always been one of the biggest foreign investors in the country. The potential for cooperation in green growth between the two sides is quite large, when both countries are members of the CPTPP and the Indo-Pacific Economic Framework for Prosperity (IPEF) is under negotiation. Both CPTPP and IPEF have cooperative contents in terms of green growth.
Some key sectors with great cooperation potentials include electrical and electronic equipment, wooden architecture, wind, biomass, solar power, and organic aquaculture.
Speaking at the forum Nguyen Anh Duong, head of the research unit of CIEM said Vietnamese stakeholders, especially small and medium businesses, expected opportunities for cooperation and technology transfer from Japanese partners, noting that Vietnam needed to improve its service quality involving logistics, digital tech and labour skills.
Dr. Vo Tri Thanh, director of the Institute for Brand and Competitiveness Strategy, told participants that to achieve the goal of net zero emissions by 2050, Vietnam “cannot go alone” but needed to strengthen international cooperation, and outline solutions to mobilise capital domestically and internationally.
Also at the forum, participants focused on exchanging and analysing new domestic and international trends and development along with the driving forces behind green growth efforts in Vietnam.
