PM Phạm Minh Chính (right) had talks with Director-General of the Global Green Growth Institute (GGGI) Sang-Hyup Kim in Hà Nội on April 17. — VNA/VNS Photo

HÀ NỘI — Prime Minister Phạm Minh Chính urged the Global Green Growth Institute (GGGI) to enhance cooperation initiatives in Việt Nam's push towards sustainable development while hosting a reception in Hà Nội on Thursday for its Director-General Sang-Hyup Kim, who is in Việt Nam to attend the 4th Partnering for Green Growth and the Global Goals 2030 (P4G) Summit.

Welcoming the GGGI’s goal to mobilise an additional US$1 billion in green financing for Việt Nam for the 2024-28 period, PM Chính highlighted Việt Nam's commitment to accelerating energy transition, green growth, and sustainable development, seeing them as key drivers for the nation's growth in the new era.

The Vietnamese leader expressed his appreciation for the institute’s contributions to global sustainability efforts and its practical cooperation with various Vietnamese ministries, agencies and localities in the area, particularly its role in mobilising financial resources for green projects in Việt Nam.

He requested the GGGI to support Việt Nam in policy consultancy and consultation, legal framework development, green capital mobilisation, technology research and transfer, human resources training, and building a comprehensive green ecosystem, adding they will help Việt Nam promote comprehensive, sustainable and inclusive green growth, contributing to the country’s socio-economic development.

PM Chính also urged the GGGI to provide funding for both public sector and public-private partnership projects, enhance connections with credit organisations and financial institutions to secure green growth capital, and advise on the implementation of green projects to effectively utilise the targeted $1 billion investment.

Kim, for his part, praised Việt Nam as a founding member and one of the GGGI's strongest partners, emphasising that the country has the potential to become a core member of the organisation.

He noted that the GGGI has already helped mobilise over $300 million for green investments in Việt Nam and is working towards the $1 billion target by 2028. Besides, he identified significant opportunities for expanded cooperation, particularly in connecting financial institutions to mobilise green finance, issuing green bonds, supporting startups, and establishing innovation centres to facilitate Việt Nam's green transition.

Kim took this occasion to thank PM Chính for backing an agreement between the Vietnamese Government and the GGGI, commending Việt Nam's strategic mindset and strong leadership in green transition, digital transformation, and AI development.

The official also pledged to continue substantive activities to support Việt Nam's green development path and strengthen cooperation between Việt Nam and and the Republic of Korea (RoK) in such domains as green transition, information technology, agriculture, and energy.

The GGGI began as a research institution in the RoK before becoming an international organisation in 2012 through a multilateral agreement at the UN Conference on Sustainable Development in Brazil (Rio+20). Việt Nam ratified the document on the establishment of the GGGI in late 2012. — VNA/VNS