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Vietnam PM calls on FDI firms to embrace green transformation, sustainable development

The Saigon Times

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HCMC – Prime Minister Pham Minh Chinh has urged foreign direct investment (FDI) businesses and international investors to join Vietnam in green transformation and sustainable development efforts.

Speaking at a meeting in Hanoi today, March 19, with the FDI community and the Vietnam Business Forum 2024 (VBF 2024), he asked FDI enterprises to accompany Vietnam in implementing green transformation and sustainable development with the spirit of “Three Pioneers.”

First, pioneering in perception, thinking, and action, innovating thinking, mindset, and actions regarding green growth. Second, pioneering in technology transfer, research and development, and innovation for green growth. Third, pioneering in carrying out specific green growth projects, renewing traditional growth drivers and supplementing new growth drivers.

He urged the FDI community to embrace the spirit of “Three Enhancements.”  First, enhancing cooperation, experience sharing, and policy consultation for Vietnam, especially in priority areas such as green transformation, and digital development. Second, enhancing financial support and technical assistance for Vietnam, particularly in projects with spillover effects and breakthroughs. Third, enhancing cooperation in developing human resources for Vietnam, especially high-quality labor for key economic sectors, and important, emerging fields.

He promoted “three assurances”: (i) Ensuring the legitimate rights and interests of businesses in general and FDI in particular, ensuring stable and sustainable development for FDI enterprises towards green growth and major trends of the era such as climate change response; (ii) Ensuring the maintenance of independence, sovereignty, territorial integrity, political stability, social order, and stable policies to make investors feel secure; (iii) Ensuring stable energy towards green transformation, developing green transformation ecosystems, digital economic development, and digital transformation.

Vietnam will work towards achieving three strategic breakthroughs, namely (i) Breakthrough in institutional reforms for green and digital transformation, (ii) Breakthrough in economic, social, health, transportation, education infrastructure, green and digital transformation infrastructure; (iii) Breakthrough in human resources, he said.

Vietnam will try to foster trust between businesses and the Government and local authorities, enhance transparency, equality, anti-corruption, and boost support for sustainable business development, green and digital transformation, and public-private partnership.

The conference and the forum were jointly organized by the Ministry of Planning and Investment, the World Bank (WB), and the International Finance Corporation (IFC).

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