Vietnam collaborates with enlightened neighbours to adopt green growth

The nation has been developing strategies to build a more sustainable economic model

The Association of Southeast Asian Nations (ASEAN) has set a unified goal of reaching net zero by 2050.  To comply with the target and to overcome its current unsustainable model, the Ministry of Planning and Investment organised a conference to discuss and refresh the Vietnam Green Growth Strategy (VGGS) for the period of 2021-2030, with a vision aimed at 2050 , 

The VGGS has been developing strategies for green growth, climate change response, and sustainable development in partnership with Vietnamese ministries. Through these strategies, they will be conducting assessments for green growth initiatives, developing green growth-based investment plans, and supporting the development of green cities

In line with this, Prime Minister Pham Minh Chinh’ suggested the expansion of Vietnam and the United States’ partnership in terms of green transition and sustainable agriculture to assist in the shift to a sustainable economy, reported The Investor magazine. The two countries already consider each other as important partners with their already existing cooperation for trade, labour, economy, and intellectual property.

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With these two nations seeing potential in integrating sustainability into their relations, plans for the U.S.-hosted Asia-Pacific Economic Cooperation and the possible prospects of the Indo-Pacific Economic Framework for Prosperity came to fruition to address common environmental challenges.

The Prime Minister also shared his and Singaporean Prime Minister Lee Hsien Loong’s agreement to establish a digital and green economy partnership. According to VN Express, the two Prime Ministers established the Vietnam–Singapore Digital Economy and Green Economy partnership by signing a memorandum of understanding last 9th of February 2023.

This memorandum included the promotion of the two nations sharing their management experience, ideas, and platforms. Singapore will be supporting Vietnam in their journey to green energy and zero emissions by 2050 through a potential electricity grid between a Vietnamese and Singaporean.

The Property Report editors wrote this article. For more information, email: [email protected].