Panelists at the Australia-Vietnam Green Economy Summit on Tuesday in HCM City. — VNS Photo Bồ Xuân Hiệp

HCM CITY — Việt Nam and Australia on Tuesday vowed to strengthen climate and energy cooperation to achieve emissions reduction targets and promote sustainability in the region at the Australia-Vietnam Green Economy Summit.

Speaking at the meeting in HCM City, Võ Văn Hoan, vice chairman of the People’s Committee, said Việt Nam was willing to co-operate with Australia, particularly in HCM City, to work towards a sustainable and prosperous future.

The collaboration will involve creating business opportunities, sharing knowledge, connecting businesses from both countries, and facilitating bilateral trade and investment.

With its strong infrastructure, transportation networks, skilled workforce, and top universities, HCM City, offers favourable conditions for collaboration with Australia, he added.

Việt Nam’s largest economic hub has focused on a green economic development strategy, which includes a robust policy framework that aligns with Australia’s green economic policy. 

Jenny McAllister, Australia’s Assistant Minister for Climate Change and Energy, who is on a visit to Việt Nam, said Australia was also willing to support Việt Nam and Southeast Asia throughout their clean energy transformations.

“Cooperation is the key to unlocking economic opportunities for Australia and Việt Nam as our countries and international partners undergo a clean energy transformation,” she said.

Australia, as a global leader in clean energy technology and sustainable finance, can assist Việt Nam in its transition by providing expertise in these areas, according to McAllister.

Australia and Việt Nam last month elevated their relationship to a Comprehensive Strategic Partnership, the first of its kind with a standalone climate and clean energy pillar.

Australian Ambassador for Climate Change Kristin Tilley, who is also on a visit to Việt Nam, said the summit provided an opportunity for both nations to discuss how to tackle climate change through ambitious climate actions.

Võ Văn Hoan (left), vice chairman of the municipal People's Committee, greets the consul general of Australia in HCM City at the Australia-Vietnam Green Economy Summit on Tuesday in HCM City. — Photo courtesy of Asialink

Việt Nam an attractive investment destination

Anna Skarbek, Climateworks Centre CEO, said as Việt Nam seeks to achieve its long-term net zero targets, it has become a more attractive destination for investment in green economy. 

It is poised to play a significant role in the region’s decarbonisation, she said. An enabling policy environment is needed to accelerate the green economy, she added.

The country is emerging as one of the fastest-growing energy markets in Asia, with energy demand projected to grow by 8-10 per cent annually.  

In June last year, the Australian Government announced a AU$105 million (US$67.5 million) aid package for sustainable infrastructure planning and private investment in clean energy infrastructure in Việt Nam.

Organised by Asialink and Climateworks Centre with support from the Australian Government, this week’s summit attracted over 150 business leaders and experts from both countries. 

The event was held as part of the Australia-Vietnam Green Economy Programme launched last year to foster collaboration between two governments and businesses in green economy. — VNS

Australian and Vietnamese delegates pose for a photo together at the Australia-Vietnam Green Economy Summit on Tuesday in HCM City. — VNS Photo Bồ Xuân Hiệp