Green Economic Development in Vietnam - Achievements and Issues (Part 2)

	Green Economic Development in Vietnam - Achievements and Issues (Part 1)
	35 Foreign NGOs Honored for their Contributions to Vietnam's Development

Challenges of Green Economic Development in Vietnam

In part 1, it can be seen that the Party and State's policies on green transformation are clear, with a well-planned roadmap and strong determination. At the same time, Vietnam's economy is also strongly transforming towards green. However, Vietnam's sustainable development and commitment to achieving net zero emissions by 2050 are also facing significant challenges. These are:

- Factors such as natural disasters and climate change are becoming increasingly fierce, complex, and unpredictable, the level of science and technology development is still low; negative impacts from fluctuations, geopolitical conflicts, post-Covid-19 crises... from outside while our country's economy is highly integrated.

- Some businesses' awareness of the green economy is still inadequate. They even hesitate, citing financial difficulties as an excuse to delay green transformation.

- Resources for the goal of greening Vietnam's economy are still quite limited. In addition, fluctuations, geopolitical conflicts, economic crises, and fierce competition in the world market are posing many challenges to Vietnam's macroeconomic stability.

- The labor force serving the green economy requires a high level of science and technology. This is a problem that we have recognized early on, but the level of resolution is not satisfactory. In addition, the production chain and technology in Vietnam are mostly old and outdated technology, consuming a lot of fuel and energy.

- The legal system is still not really synchronized, there are no specific legal documents regulating green energy and renewable energy; it is necessary to issue new laws on industrial development and environmental protection... In addition, the management of the implementation of the green economic development strategy in sectors, regions, and localities across the country is not really linked and unified with each other.

Several solutions for green and sustainable development

From the practice of green economic development in Vietnam and international experience, according to experts, to achieve the goals set by the Party and the State and strongly develop the green economy in "Vietnam's rising era", it is necessary to focus on the following solutions:

First, perfecting institutions and reforming administrative procedures; especially the policy system on green economic development to facilitate businesses to enter the green economy and benefit from this model. Building a green economic structure with three pillars: agriculture - industry - services adapting to climate change. Applying information technology in forecasting and overcoming environmental incidents; building a mechanism for reporting and responding quickly to the environment; amending and supplementing sanctions to handle business activities that harm the environment. At the same time, it is necessary to strengthen the monitoring and enforcement of regulations fairly and transparently, reduce barriers and complicated procedures, and simplify administrative processes.

Second, the Government needs to have reasonable and attractive mechanisms and solutions to call for the mobilization of domestic resources to develop and apply high technology, especially in the fields of production and export to meet the requirements of the international market - paying attention to regulations on environmental pollution and climate.

Third, gradually incorporate green development and sustainable development into education programs at all levels; promote communication activities and propaganda campaigns to raise public awareness. At the same time, allocate adequate resources for investment in research and development of green technology.

Fourth, mobilize international support to achieve national green development goals. This is the basis for small and medium-sized enterprises to ensure financial liquidity in the supply chain, helping to support capital for green infrastructure projects. In addition, it is necessary to create favorable conditions for large-scale and modern investment projects that meet environmental, social, and governance standards; as well as learn from green development experiences of advanced countries to apply in Vietnam.

Green Economic Development in Vietnam - Achievements and Issues (Part 1) According to UNEP (United Nations Environment Program), the connotation of green economy includes basic elements: Low carbon emissions; efficient use of resources; and ensuring social ...