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Nov 06, 2023 / 16:34

Vietnam ready to build cooperative model for green transformation

Vietnam, as one of the three nations committed to implementing the Just Energy Transition Agreement (JETP), is actively promoting mechanisms for green finance mobilization.

Vietnam is willing to work with developed countries to build a cooperative framework that promotes green transformation and bridges the gap between developed and developing countries.

 Deputy Prime Minister Tran Hong Ha (second from right) and Chinese Premier Li Qiang (second from left) at the Vietnamese booths. Photos: MK

Deputy Prime Minister Tran Hong Ha stressed this view in his speech at the 6th China International Import Expo (CIIE) in Shanghai on November 5.

Amid a rapidly transforming world characterized by significant advances in science and technology, as well as notable trends in digital and green transformation, the Deputy Prime Minister emphasized the historic significance of this moment for the global community.

Vietnam, as one of the three nations committed to implementing the Just Energy Transition Agreement (JETP) in collaboration with G7 countries and international partners, is actively promoting mechanisms for green finance mobilization.

“This involves leveraging government capital as a leading force to guide private investments towards achieving emission reduction, green transformation, and sustainable development objectives,” Ha noted.

Among the key solutions, Ha stressed the importance of strengthening international cooperation and solidarity to create an ecosystem conducive to green investment and trade.

It is necessary to address global challenges through collective efforts and by upholding the principles of multilateralism, Ha noted, adding that multilateral institutions, such as the International Trade Organization (WTO), UNCTAD, UNDP, and the United Nations Environment Program (UNEP), should play a vital role in strengthening connections and shaping global policies that support green and sustainable trade and investment.

The second key aspect in the process of greening investment and trade is the importance of ensuring fairness.

 The Deputy Prime Minister at the opening session. 

Countries must work together to attain common goals while considering disparities in development levels, economic capacities, and adaptability among nations. Developed countries should expand support in terms of financial resources, technology, and human capital to help developing countries comply with global green regulations and standards, he noted.

Meanwhile, Ha suggested that science and technology can be likened to a "vaccine" in the endeavor to combat climate change and pursue green transformation. He called for developed countries to take the lead in inventing and advancing science and technology for the production of green products, such as green hydrogen, low-emission technologies, environmentally friendly storage, transportation, and educational infrastructure.

International organizations should contribute to ensuring a fair process of resource allocation and the transfer of green technology from developed nations to developing countries, he concluded.

The opening ceremony of the 6th CIIE was attended by leaders and representatives from 150 countries and territories, international organizations, and numerous prominent corporations and businesses from around the world. 

The 6th CIIE fair, themed "New era, shared future," drew participation from over 150 countries and international organizations, along with 3,400 businesses. 

Multinationals pledge support for Vietnam's green economy

On the sidelines of the 6th CIIE, Deputy Prime Minister Tran Hong Ha held meetings with the CEO of AstraZeneca, Pascal Soriot, and Chairman of the Jiangsu Runergy New Energy Co., Ltd Tao Longzhong on the same day.

 Deputy Prime Minister Tran Hong Ha and CEO of AstraZeneca Pascal Soriot.

During the meeting with Soriot, Ha expressed his appreciation for AstraZeneca Group's proactive support in supplying Covid-19 vaccines to Vietnam, highlighting its contribution to global vaccine equity.

“The Vietnamese Government remains willing to facilitate AstraZeneca's successful projects in various sectors, including healthcare, pharmaceuticals, the healthcare ecosystem, and sustainable development,” said Ha.

In response, Soriot praised Vietnam's impressive post-pandemic recovery and socio-economic development.

He mentioned that, alongside investment, research, and technology transfer initiatives in vaccines and pharmaceuticals, the AstraZeneca Group has been actively involved in various collaborative programs related to sustainable development and improved access to healthcare.

The CEO of AstraZeneca expressed his desire to provide consultation and support to Vietnam in establishing a carbon credit market.

In a meeting with Chairman of the Jiangsu Runergy New Energy Co., Ltd Tao Longzhong, the Deputy Prime Minister conveyed Vietnam's strong commitment to the development of all forms of renewable energy and the production of new fuels such as green hydrogen and green ammonia. 

 The Deputy Prime Minister in a meeting with Chairman of the Jiangsu Runergy New Energy Co., Ltd Tao Longzhong.

“This represents an opportunity for foreign investors in Vietnam to engage more deeply in all phases of the renewable and new energy sectors, enabling them to contribute to energy exports and the global market for related equipment and components,” Ha said.

However, he emphasized that businesses operating in the renewable energy sector must meet the highest quality standards, prioritize safety and environmental friendliness, and minimize waste.

He suggested that Jiangsu Runergy New Energy Co., Ltd cooperate in the research and development of practical technological solutions for solar cells, smart power transmission grids, green hydrogen production, green ammonia, and storage batteries.

Longzhong briefed the Deputy Prime Minister on the progress of the first phase of the $440 million silicon ingots and semiconductor wafer production project in Hoang Mai I Industrial Park, Nghe An.

He reiterated the commitment of Runergy New Energy's management to do its utmost to ensure sufficient electricity supply and facilitate project expansion in subsequent phases.