Speaking at a seminar themed “Free trade: Investment movement and environmental issue in Vietnam” held by PanNature in Hanoi on May 27, Nick Thorpe highlighted that Vietnam will meet difficulties in abiding by environmental standards regulated in the Trans-Pacific Partnership (TPP) agreement, and those concerning land compensation at the local level.
There are loopholes in Vietnam’s policies on environmental management for businesses, he stressed.
Le Dang Doanh, former Director of the Central Institute for Economic Management, said by joining free trade agreements (FTAs), Vietnam has to commit to ensuring regulations related to indicators on ozone-depleting substances , pollution at sea, transparent cooperation in protecting the environment, and reduction of fishing activities detrimental to fisheries resources.
Doanh suggested building a relevant regulation system, adding that it is necessary to enhance supervision of environmental protection for foreign-invested enterprises.
FDI businesses’ operation ought to obey regulations on management of waste water, dust, and noise – right from the first phases of design and technology selection, to construction and operation, he noted.
According to Do Thanh Bai from the Chemical Society of Vietnam, industries that will most benefit from TPP such as textiles, footwear, and electronics are the most prejudicial sectors to the environment because they use many toxic and persistent chemicals.
Bai underlined the need to carefully select investors, aiming to seek those using environmental friendly technologies.
Vietnam has joined and negotiated 15 FTAs so far, with the TPP officially signed in October last year after five years of negotiation.
The trade pact is said to give Vietnam the chance to upgrade its investment and business environment, attract foreign investment, speed up its restructuring process and shift its growth model.
There are loopholes in Vietnam’s policies on environmental management for businesses, he stressed.
An overview of the seminar.
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Doanh suggested building a relevant regulation system, adding that it is necessary to enhance supervision of environmental protection for foreign-invested enterprises.
FDI businesses’ operation ought to obey regulations on management of waste water, dust, and noise – right from the first phases of design and technology selection, to construction and operation, he noted.
According to Do Thanh Bai from the Chemical Society of Vietnam, industries that will most benefit from TPP such as textiles, footwear, and electronics are the most prejudicial sectors to the environment because they use many toxic and persistent chemicals.
Bai underlined the need to carefully select investors, aiming to seek those using environmental friendly technologies.
Vietnam has joined and negotiated 15 FTAs so far, with the TPP officially signed in October last year after five years of negotiation.
The trade pact is said to give Vietnam the chance to upgrade its investment and business environment, attract foreign investment, speed up its restructuring process and shift its growth model.
