Vietnam’s Ministry of Planning and Investment (MPI) stated that the country will soon launch a new set of national criteria as the basis for green development. These criteria are specifically aimed at accelerating the development of green industries that comply with international standards.
According to Minister of MPI Nguyen Thi Bich Ngoc, the new set of criteria will serve as the basis for government ministries, agencies, local authorities, and industries to filter and select investment projects and allocate resources.
These major stakeholders must exert efforts to promote the country's transition to sustainable and clean energy, the development of energy-saving industrial parks, and electric vehicles.
The ministry emphasized the importance of foreign investments and stronger collaboration and exchange of ideas, technologies and financial resources.
Therefore, the MPI recommends that the government promptly establish a business environment conducive to sustainable and green development, formulate policies and tools, and encourage the mobilization of financial resources from all stakeholders, including the private sector.
Ngoc said that the development of green industries remains a top priority for the Vietnamese government as part of Vietnam’s global efforts to combat climate change. Following the COP26, Prime Minister Pham Minh Chinh approved the National Green Growth Strategy 2021-2030 with a vision to 2050.
She also said that the strategy aims to help Southeast Asian countries achieve the 2050 net zero goal, along with meeting their Nationally Determined Contributions (NDC) and self-defined climate commitments under the Paris Agreement.
In recent decades, Vietnam has been increasing its investment in renewable energy, environmental protection, circular economy, sustainable agriculture and green infrastructure. The country has also signed a number of international agreements aimed at reducing emissions.
In the recently approved National Power Development Plan VIII (PDP8), the country aims to achieve a renewable energy utilization rate of 30.9% by 2030 and 67.5% by 2050.