Green Growth Strategy promotes post-COVID-19 economic recovery

October, 29/2021 - 16:02
The Green Growth Strategy plays a crucial role in promoting economic restructuring alongside growth model renovation, said Minister of Planning and Investment Nguyễn Chí Dũng.

 

Minister of Planning and Investment Nguyễn Chí Dũng speaks at the launch ceremony for the Green Growth Strategy chaired by Ministry of Planning and Investment in Hà Nội on Friday. Photo courtesy of Ministry of Planning and Investment

HÀ NỘI - The Green Growth Strategy plays a crucial role in promoting economic restructuring alongside growth model renovation, said Minister of Planning and Investment Nguyễn Chí Dũng.

“It is an important approach to pursue sustainable development, thus contributing to post-COVID-19 economic recovery, transitioning to green economic development, and at the same time creating a premise to realise the long-term targets of low-carbon emissions and carbon neutrality so as to contribute to limiting global temperature rise,” he said.

Dũng made the statement at a ceremony chaired by the Ministry of Planning and Investment in Hà Nội on Friday.

Attendees at the conference included representatives from ministries, sectors, localities, embassies of the UK, Germany, the Republic of Korea, international organisations, the World Bank, Asian Development Bank, UNDP, UNIDO, UNICEF, GIZ, KOICA, AFD, USAID, as well as representatives from businesses, academia, and researchers.

In light of the approved orientation, the National Green Growth Strategy (VGGS) was developed on the basis of extensive consultations with stakeholders in ways consistent with recent COVID-19-pandemic prevention regulations, Dũng said.

The development process of the Strategy received strong support, co-operation and input from ministries, sectors, localities, relevant industry associations, embassies, international organisations, and development partners, Dũng said.

By acknowledging and taking into consideration the inputs from stakeholders, the Ministry of Planning and Investment has completed the VGGS and submitted it to the Prime Minister for promulgation under Decision No 1658/QĐTTg dated October 1, 2021.

The Prime Minister's approval of VGGS on the threshold of the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26) in Glasgow, UK, which will take place in the next few days, has demonstrated Việt Nam's strong commitment to reducing greenhouse gas emissions through practical and concrete actions.

“The VGGS sets four important goals, namely reducing greenhouse gas emissions, greening economic sectors; greening lifestyles and promoting sustainable consumption, and greening the transition,” said Lê Việt Anh, Director of the Department of Science, Education, Natural Resources and Environment under the Ministry of Planning and Investment.

The first objective of VGGS is to reduce the intensity of greenhouse gas emissions per GDP, which was also the objective of the previous strategy. This aims to assess comparative greenhouse gases (GHG) emission mitigation potential per unit of economic output, helping to determine the extent of environmentally-friendliness of the economy as its size is increasing, contributing to realising the dual goal of protecting the environment and developing “rapidly and sustainably,” he said.

Under VGGS, by 2030, the intensity of greenhouse gas emissions per GDP will decrease by at least 15 per cent compared to that of 2014. By 2050, the intensity of greenhouse gas emissions per GDP will reduce at least 30 per cent compared to that of 2014.

Hải Phòng was the first locality to develop and implement a green growth plan for the 2014-2020 period. The city has succeeded in attracting a number of sustainable investment projects in accordance with the local economic development conditions.

Vice Chairman of Hải Phòng City People's Committee Lê Khắc Nam said that the city had implemented a number of outstanding projects in the 2014-2020 period, such as waste treatment projects and an electric bus on Cát Bà Island.

International organisations have supported and co-ordinated with Hải Phòng to implement green and environmentally friendly projects. The city will move towards applying digital technology, digital transformation, transforming the economic model towards greening, comprehensively implementing green economic development models including green ports, green islands, environmentally-friendly production model, reducing energy consumption in production activities, and applying renewable energy sources such as wind and wave energy.

Representatives from ministries, sectors, localities, embassies, international organisations, development partners, and businesses spoke highly of the new approach which was employed to determine the feasibility of the goals set forth in VGGS.

They also agreed with the plan and roadmap for the implementation of VGGS and believe that the Strategy will help realise the goals that Việt Nam had set for 2030 and 2045. Ministries, sectors, localities, agencies and relevant organisations agreed to work together immediately to devise a National Green Growth Action Plan and Action Plans on sectoral and local levels. Development partners and international organisations are committed to accompanying and supporting Việt Nam to implement the VGGS.

To conclude the meeting, Minister of Planning and Investment Nguyễn Chí Dũng emphasised the importance of collaboration during the implementation process, saying the support and close co-ordination of ministries, sectors, domestic and international organisations, the business community and experts play a fundamental role to ensure that the implementation of VGGS adheres to the views and orientations of the Resolution of the 13th National Party Congress, the 10-year socio-economic development strategy 2021-2030, and the 5-year socio-economic development plan 2021-2025.

Following Friday’s conference, the Ministry of Planning and Investment will preside over and co-ordinate with ministries, sectors and localities to research and propose to the Prime Minister to establish a National Steering Committee on Green Growth, make arrangements to devise a National Green Growth Action Plan, and implement other important contents. VNS

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