Vietnam-France 2023 Economic Forum: Towards green and sustainable development. (Photo: vnu.edu.vn)

The Vietnam-France 2023 Economic Forum, themed "Towards green and sustainable development", was held in Hanoi on July 7, aiming to honour the close relationship between the two countries as well as offer a chance for policy makers, businesses and scholars to exchange cooperation plans.

The event is part of a series of activities to celebrate the 50th anniversary of Vietnam-France diplomatic relations and the 10th founding anniversary of their bilateral strategic partnership.

At the forum, Assoc. Prof. Dr. Pham Bao Son, Vice President of Vietnam National University (VNU), Hanoi said through many years of close partnership, Vietnam and France have demonstrated their commitment and consensus in protecting the environment, using resources in a sustainable way, developing green economic and circular economic models based on modern technology and innovation.

Tireless efforts have been made by the two countries to develop appropriate infrastructure and policies, thereby creating opportunities for cooperation and common development, he went on.

Vietnam, with its significant potential in clean energy, and France, boasting experience and advanced technology, will create a unique, close and friendly cooperation to achieve the goal of sustainable and greener development for both countries, Son noted.

According to French Ambassador to Vietnam Nicolas Warnery, the two countries' trade turnover has increased fivefold to 16 billion EUR (17.4 billion USD) in the 2010-2022 period. Major French companies along with many small- and medium-sized enterprises have been present in Vietnam, while a growing number of big Vietnamese corporations, including tech giant FPT and electric vehicle maker VinFast, have invested in France.

The diplomat said that with the net-zero commitment, the Government of Vietnam has shown a strong determination in responding to climate change and is in the process of realising this commitment, with phasing out fossil energy as the first move.

Another move is signing agreements with the Group of Seven (G7) development partners on the Just Energy Transition Partnership (JETP), he added, saying that this relationship has set ambitious targets for reducing greenhouse gas emissions and increasing the share of electricity from renewable energy in the national power source structure.

Three main topics discussed at the forum are economic relationship between France and Vietnam: challenges and prospects; France's green growth policy and recommendations for Vietnam; and sustainable development and social responsibility in the higher education environment.

Through discussion, experts from Vietnam and France made useful recommendations to strength the two nations' economic, commercial, institutional, environmental and social resilience.

In the energy sector, France has been investing in renewable energy sources to reduce its dependence on fossil fuels, with the goal of achieving 40% of its electricity production from renewables by 2030.

For the sustainable transport sector, the French Government supports electric vehicles and develops infrastructure to achieve 35% of sales of new electric or hydrogen passenger cars by 2030 and 100% in 2040.

It also strongly supports green finance through comprehensive subsidy programmes such as tax support and the development of financial instruments, experts said