MPI proposes a national economic sectors system prioritising the green economy

September 26, 2024 - 13:05

The Ministry of Planning and Investment (MPI) is currently seeking public feedback on a draft decision from the Prime Minister to establish a new national economic sectors system, which includes a National Green Economy framework.

The draft identifies 11 key Level 1 sectors in the green economy framework, including agriculture, manufacturing, electricity, waste management, construction, and finance. — VNA/VNS Photo

HÀ NỘI — The Ministry of Planning and Investment (MPI) is currently seeking public feedback on a draft decision from the Prime Minister to establish a new national economic sectors system, which specifically includes a National Green Economy framework.

Việt Nam's economic sectors system, outlined in the draft for State statistics, categorises the economy into five levels, starting with 22 sectors at Level 1, coded alphabetically from A to V, and extending to 733 sectors at Level 5 with numerical codes.

A key highlight of the draft is the National Green Economy framework, which is divided into three main categories, including green sectors, transitioning sectors, and supporting sectors.

Green sectors consist of economic activities that align with green growth goals and do not cause significant harm to other environmental objectives.

Transitioning sectors, while potentially harmful to some environmental targets, play a crucial role in Việt Nam’s economy and will be encouraged to shift towards more sustainable practices.

Supporting sectors include activities that indirectly contribute to green growth by aiding or complementing green industries.

The draft identifies 11 key Level 1 sectors within the green economy framework, including agriculture, manufacturing, electricity production and distribution, waste management, construction, transportation, telecommunications, finance, real estate and scientific and technological services.

A sector is classified as green if it meets at least one of several key environmental objectives, such as mitigating climate change, protecting ecosystems or advancing the transition towards a circular economy.

This comprehensive system aims to foster Việt Nam’s green economy by providing clear guidelines for industries to follow, encouraging sustainable practices across multiple sectors. Implementing this framework will ensure that Việt Nam's economic growth is environmentally responsible and supports long-term sustainability.

The draft decision is currently open for public consultation. The proposal underscores the government's dedication to integrating economic development with environmental protection, setting the foundation for a greener future. — VNS

Việt Nam's path to a green economy: Challenges and opportunities

Việt Nam is progressing its energy transition by decreasing its dependence on fossil fuel-based electricity and prioritising the development of clean, sustainable energy sources to mitigate greenhouse gas emissions.

Economy

Accelerated green economy transition efforts needed for 2024 GDP target

Việt Nam’s net zero ambitions and the pressure from stringent standards of developed markets are requiring a faster energy transition to move to becoming a green economy, posing not only challenges, but also opportunities for the country to strengthen economic restructuring and promote investment and trade cooperations.

Economy

Criteria crucial for developing the green economy, says Deputy PM

The Deputy Prime Minister emphasised that green criteria are very important for Vietnamese businesses to attract investment and integrate internationally.

Experts point out economic growth drivers, challenges for next year

Economy

Thái Nguyên supports businesses to take advantage of UKVFTA to expand exports to UK

Economy

Việt Nam's administrative restructuring will not impact foreign investors, says Foreign Ministry

Economy

Hà Nội buzzes with year-end shopping opportunities

Economy

PM asks efforts to achieve more than 8 per cent economic growth in 2025

Economy

AEON Vietnam boosts recruitment and expansion in 2025

More on this story

Economy

Cần Thơ-Phú Quốc air route to be resumed next month

The air route between the Mekong Delta city of Cần Thơ and Phú Quốc island, a tourism hub off the southern province of Kiên Giang, will be resumed from October 28.

Economy

Taxation authority to hold dialogue with taxpayers in five localities

The General Department of Taxation will organise a direct dialogue with taxpayers from five provinces and cities to hear feedback on the practical implementation of current tax policies.

Economy

VN needs drastic measures to promote circular economy

The Deputy Director of the Institute of Strategy and Policy on Natural Resources and Environment under the Ministry of Natural Resources and Environment, said that a national action plan to implement a circular economy by 2030 is expected to be issued in the next few weeks.

Economy

Robusta coffee price is higher than Arabica coffee price in Việt Nam

The higher price of Robusta coffee brings great benefits to Việt Nam's coffee industry because about 94 per cent of Vietnam's coffee growing areas have planted this variety.

Economy

Ransomware attacks increasingly target Việt Nam's financial sector

Risk of information security is always lurking with the sector says the Director of the Department of Information Security under the Ministry of Information and Communications.

Economy

Google seeks cooperation with Việt Nam in AI development

The Vietnamese leader highly valued the group’s cooperation proposal on cybersecurity, which is a particularly critical area as the Fourth Industrial Revolution is strongly affecting every aspect of the economy.

Economy

Top leader calls for investment from US energy groups AES, Pacifico

Party General Secretary and State President Tô Lâm met leaders of two major US groups operating in the fields of energy in New York on September 25 (local time) as part of his US trip.

Economy

SpaceX to invest $1.5 billion in Việt Nam

SpaceX highly values Việt Nams potential for SpaceX's satellite internet plan, and informed that the group aims to inject US$1.5 billion into the country in the near future.

Economy

PM chairs dialogue session on HCM City’s industrial transformation efforts

A dialogue session was held between Prime Minister Phạm Minh Chính, leaders of agencies and localities, and large companies in Việt Nam and around the world to discuss the city’s industrial transformation.