Vietnam Has Plenty of Opportunities for Green Growth

The Asia-Pacific region faces triple threats from recurring climate-related natural disasters and soaring food and fuel prices. The region is also the world’s most vulnerable to natural disasters, with its people four times more likely to be affected by nature’s wrath than those in Africa and 25 times more likely than those in Europe or North America. According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), the global financial and economic crisis has left huge impacts on the society and promoted the formation of two tendencies: the formation of a new political and economic order and the acceleration of ‘green’ revolution (a green economy and green revolution in industry).

 

Asian countries are committed to reducing gas emission; saving energy and transferring green technology, etc to effectively implement the green growth pattern - a development strategy of sustainable development in Asian countries. South Korea always regards green growth as a strategy to change the economy in the midst of current economic downturn. For the first time, South Korea and Denmark - a global leader in green growth, agreed to establish a Green Growth Alliance in order to maximise huge resources of global green growth markets. So far, an international alliance mainly covers political and military aspects but now South Korea and Denmark have created a new concept of alliance that needs to be widely applied to keep the earth for future generations. The precondition for the green growth alliance is a mutually complementary industry structure of the two countries.

 

The relationship between Vietnam and South Korea is being developed in all aspects and one of them is environmental investment. For years, the two governments have launched many environmental cooperation programmes and achieved impressive results. At present, in the fields of industry and environmental technology, South Korean environmental companies have established representative offices in Vietnam and formed good relationship with Vietnamese State agencies and businesses operating in the environmental field. Companies of the two nations have also regularly participated in environmental exhibitions in Vietnam and South Korea. A bilateral strategic environmental relationship will enable Vietnam to approach global leaders in green growth although the green growth is a long road to go.

 

Vietnam is identified to be heavily affected by climate change and natural disasters; thus, the green growth is becoming more urgent than ever. The Government of Vietnam has many programmes and roadmaps, both short term and long term, to cope with and adapt to developments and impacts of climate change and sea level rise. These programmes will be jointly developed by ministries, sectors and localities in the country with the support of international communities. Vietnam will introduce ‘green growth’ policies and technologies to encourage businesses - the primary stakeholder in the green growth pattern - to carry out environment-friendly investments. Many of them have adopted green production by reducing gas emissions and energy consumption and selling environmentally friendly products to the market.