Sustainable development a $45 billion opportunity for the private sector: Standard Chartered

February 05, 2020 - 16:15
Investing in sustainable development is a $45 billion opportunity for the private sector: Standard Chartered


A view of HCM City. Việt Nam presented a US$45 billion opportunity for the private sector to invest in sustainable development. — VNA/VNS Photo Mạnh Linh

HÀ NỘI — Việt Nam presented a US$45 billion opportunity for the private sector to invest in sustainable development to help achieve the United Nations’ Sustainable Development Goals (SDGs) by 2030, according to a recent study by the international banking group Standard Chartered.

The Opportunity 2030 study revealed an almost $10 trillion opportunity for private-sector investors across all emerging markets, with Việt Nam presenting $45.8 billion of that total.

The opportunities for the private sector would come from contributions to three infrastructure-focused goals between now and 2030, including clean water and sanitation, affordable and clean energy, and industry, innovation and infrastructure.

SDG investment opportunities were found in transport infrastructure and improving digital access, according to the study.

The study founded that to achieve universal digital adoption would require private-sector investment of around $24.4 billion to 2030. To significantly improve Việt Nam’s transport infrastructure would require an estimated investment of $20.1 billion from the private sector.

The potential private-sector investment opportunity in the water sector was smaller, the study noted. However, as 11 per cent of Việt Nam’s population still did not have access to clean water and sanitation, investment would make a real impact.

To help achieve universal access to clean water by 2030 would require an estimated private-sector investment of $1.3 billion.

 “A series of ongoing market reforms is making Việt Nam an increasingly attractive place for investors. The government is committed to the UN Sustainable Development Goals and is working directly with the UN to align its development plans with the SDGs,” Nirukt Sapru, CEO Vietnam and ASEAN & South Asia Cluster Markets at Standard Chartered Bank said.

 “Opportunity2030 provides an important map of the SDG opportunities for private sector investors looking to invest with impact and improve the lives of millions over the next decade,” he stressed.

Statistics showed that now 89 per cent of the population got access to clean water and sanitation and 76 per cent to digital access.

SDGs targeted that Việt Nam would have universal access to clean water and digital access by 2030, which would require total investment of $13.1 billion and $40.7 billion by 2030, respectively.

Việt Nam already had universal access to power. However, with a growing economy, there would be an additional need for continual investment in affordable and clean energy to maintain access in a sustainable way, the bank said. — VNS