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Sunday, July 14, 2024

Vietnam, Japan to join forces to advance green growth

The Saigon Times

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HCMC – The Japan International Cooperation Agency (JICA) has pledged to partner with the Ministry of Natural Resources and Environment to strengthen Vietnam’s capacity for reducing carbon emissions.

This cooperation will help improve resource management, enhance living conditions through cooperation with agricultural firms, and bring in modern technology to mitigate the impacts of climate change and natural disasters.

The commitment was made during a seminar titled “Vietnam – Japan Collaboration towards Green Growth,” held in Hanoi on September 12 to mark the 50th anniversary of diplomatic relations between the two nations.

The event, jointly organized by the Ministry of Agriculture and Rural Development and Vietnam News, brought together leaders from various Vietnamese ministries and agencies, including the Ministry of Planning and Investment, the Ministry of Foreign Affairs, and the Ministry of Industry and Trade. Representatives from both countries, including JICA, the Japan External Trade Organization (JETRO), provincial leaders, experts, and businesses also attended.

JETRO highlighted the significance of green development in addressing pressing issues in Vietnam, such as water quality, air pollution, waste management, recycling, energy efficiency, and carbon emissions. They recommended that the Vietnamese Government tighten environmental regulations, expand manufacturers’ environmental responsibilities, and expedite the transition to renewable energy.

Over the past five decades, Vietnam and Japan have strengthened their cooperative ties, especially in foreign affairs, economy and trade.

Japan has consistently been Vietnam’s top investor and ODA provider, with 2022 two-way trade reaching nearly US$50 billion.

This latest partnership aligns with Vietnam’s international commitments under the United Nations Framework Convention on Climate Change (COP26).

Vietnamese Ambassador to Japan Pham Quang Hieu expressed optimism about the current state of bilateral relations, describing it as the most promising phase in their history. He emphasized the potential for further cooperation in green technology, energy transition, and the application of Japanese technology compatible with Vietnam’s development in the years 2030-2050.

As of August 2023, Japanese companies had got involved in 5,168 projects in Vietnam, with total registered capital of US$71 billion, ranking third among 143 countries and territories investing in the country.

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