Enterprises invest USD9 billion in green growth

Tuesday, 02/05/2023 12:11
The business sector, including FDI enterprises and domestic enterprises, has invested about USD9 billion in fields related to green growth and green development.
Illustrative photo (Source: 

This data was shared by Mr. Nguyen Anh Tuan, Deputy Director of the Foreign Investment Department, Ministry of Planning and Investment, at a recent seminar entitled "FDI enterprises in green growth of Vietnam" held by the Government Portal.

According to Mr. Tuan, green growth and sustainable development are indispensable requirements and a common trend that every country in the world wants to achieve. The Prime Minister made very strong commitments at COP26, affirming Vietnam's desire to achieve economic prosperity, environmental sustainability, and social justice.

To implement that plan, the Ministry of Planning and Investment has advised the Prime Minister to issue a Green Strategy for the period 2021 - 2030 with a vision to 2050, while simultaneously developing an action plan to implement the green growth strategy.

He added that FDI enterprises play a very important role in economic recovery and growth, and in implementing inclusive sustainable development, including green growth.

According to calculations by the Ministry of Planning and Investment, the business sector, including FDI enterprises and domestic enterprises, has invested about USD9 billion in fields related to green growth and green development such as renewable energy, or investment in equipment for the green economy. This figure accounts for about 2% of GDP and the average growth during the past 2 years has been quite high, at 10-13%.

Affirming the important role of businesses in implementing green growth strategies, national strategies on climate change response and sustainable development, Mr. Nguyen Quang Vinh, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), said that in order to achieve the goal of net zero emissions by 2050, it is necessary to focus on science and technology.

According to statistics of the Business Council for Sustainable Development, each year the circular economy generates about USD4-5 trillion and creates a lot of new jobs through new business models.

The question Mr. Vinh raised was, how can Vietnamese enterprises and FDI enterprises operating in Vietnam take advantage of this opportunity, while the perception of enterprises, in terms of sustainable development in general, in terms of green growth and responsible business issues, is very low.

Mr. Vinh said that it is necessary to require the highest technology so that when foreign enterprises invest in Vietnam, they will have a basis to invest in the most advanced science and technology to reduce greenhouse gas emissions.

In addition, businesses are also finding it difficult to access green finance. "We are having the opportunity to be supported by the international community in green finance, we must have green businesses," Mr. Vinh suggested./.

Compiled by BTA