Deputy Prime Minister Tran Hong Ha speaking at the forum (Photo: VGP)

With the theme of "Vietnam moving towards a green, sustainable economy: From strategies and policies of the Government to initiatives and solutions of localities and businesses", the forum was attended by representatives of diplomatic agencies, leaders of 25 provinces and cities in the northern region, along with business associations and nearly 300 foreign investment enterprises in Vietnam.

Ha said all nations in the world are facing global challenges that each country cannot solve alone without other countries' assistance.

Along with many other countries around the world, Vietnam is now poised to transition from brown to green growth, improve the quality of life, and ease impacts of climate change

The private sector, the Government, international partners, localities, and financial institutions in Vietnam will find solutions to the problems in this aspect, and countries have to sit together to find an effective cooperation mechanism, the Deputy Prime Minister said.

He added that Vietnam already has a basic legal framework and the Government pledged to continue improving and promoting the development of the green economy, including the field of renewable energy.

According to a recent assessment by the European Commission (EC) of the current global market size, green products and services are estimated to top 5 trillion USD and may have a much higher growth rate than other traditional markets. It is forecast that by 2030, the green economy will have create about 24 million new jobs globally.

The green economy also creates opportunities to strongly attract investors in many new fields such as renewable energy, smart transportation, smart agriculture, green urban areas, green construction, and green finance. On the national level, the green growth strategy also demonstrates the determination and desire to develop a strong and sustainable country.

By 2025, greenhouse gas emissions inventories will be mandatory for businesses.

The plenary session of the forum will focus on discussing and updating new international trends in the green economy, low carbon economy, and net – zero economy./.