Mr. Lai Xuan Mon, Central Committee member of the Party, Deputy Head of the Permanent Commission of the Central Propaganda Committee, Chairman of the Council of Science of Central Party Agencies, made concluding remarks at the seminar.

This morning, June 26th, in Nam Dinh, a national scientific conference on the theme "Green Economic Development - Theory and Practice" took place with the participation of many delegates, economic experts, representatives from ministries, departments, and localities. They discussed opportunities and challenges for Vietnam in green transformation and proposed solutions to enhance green economic development.

ENTERPRISES IN THE CENTRAL ROLE OF GREEN ECONOMIC DEVELOPMENT

Associate Professor, Dr. Hoang Van Hoan, Deputy Head of the Division of Political Schools (Ho Chi Minh National Academy), believes that green economic development is essential. The "brown economy" model has indeed caused and continues to cause serious environmental consequences.

"In 2008, amidst the global economic crisis, UNEP reiterated this concept, emphasizing the establishment of a green economy, starting with the implementation of 'green economic stimulus packages' in specific sectors, moving towards 'green growth' to build a green economy as a crucial way out to lead countries out of economic crises towards sustainable development," Associate Professor, Dr. Hoang Van Hoan emphasized. He also added that the essence of green economy includes low carbon emissions, efficient resource utilization, and ensuring social equity.

The green economy has been proven to be more effective in the long term than the brown economy, while also helping to maintain and restore natural capital. Early development of the green economy will shorten the development process, swiftly advancing towards prosperous and sustainable societies.

Regarding the conditions for developing a green economy, the Deputy Head of the Political Schools Department noted that financially capable, resourceful, and technologically advanced countries can transition to a green economy through investment and developing new sectors within the economy to promote societal development and sustainable environments. Developing economies incur higher costs and time adjusting gradually to make traditional economies more environmentally friendly.

"In the green economy model, businesses are at the center, playing a primary role in development. The state, meanwhile, must act as the 'conductor,' coordinating stakeholders, managing macroeconomics, and shaping the transition process. Additionally, the state participates in the market as a consumer of products," noted Associate Professor, Dr. Hoang Van Hoan.

Experts argue that for Vietnam to develop a green economy, it needs to ensure four conditions: quickly finalize legal frameworks for green growth; enhance investment in renewable energy development; strengthen exchanges and cooperation with the international community; and expedite the resolution of the carbon tax issue.

From a local perspective, Ms. Ha Lan Anh, Vice Chairwoman of the People's Committee of Nam Dinh province, also acknowledges: "Besides the role of the government, the local role of businesses is identified as pivotal and plays an important role."

Recognizing this clearly, recently, alongside many comprehensive solutions, Nam Dinh province has focused on creating conditions, connecting, supporting, and implementing various measures to encourage businesses to adopt green agricultural models, develop green industries, invest in renewable energy and energy savings, and reduce greenhouse gas emissions. Many businesses have proactively innovated, vigorously pursuing deep model transformations linked to sustainable development and environmental friendliness.

Nam Dinh province is also actively improving its investment environment, removing obstacles, and reforming administrative procedures to enhance investment attraction and stimulate socio-economic development.

"Nam Dinh province identifies and deeply understands that green growth is an important method to sustain and foster sustainable growth for the present and future, especially under the severe impacts of climate change and rising sea levels," emphasized Ms. Lan Anh.

VIETNAMESE BUSINESSES ARE FACING GREAT OPPORTUNITIES

Meanwhile, Mr. Nguyen Quang Vinh, Secretary of the Party Committee, Vice Chairman of VCCI, and Chairman of the Business Council for Sustainable Development of Vietnam, affirmed: “Currently, Vietnamese businesses are facing significant opportunities for green development."

Specifically, the Vice Chairman of VCCI stated that the system of policies and laws related to green economy has been and is being constructed and perfected. Support for sustainable green business operations has been vigorously promoted by agencies and organizations. Models of sustainable green businesses have been shared and gradually spread within the business community... In addition, the strong advancement of the Fourth Industrial Revolution is also a positive factor supporting businesses in implementing green economy practices.

"In fact, many domestic businesses have adopted green business as their strategy and competitive advantage. This ranges from using environmentally friendly materials, supporting green social responsibility activities, to investing seriously in production lines that minimize waste and emissions. Leveraging the role of businesses will accelerate Vietnam's achievement of goals in green and sustainable growth," said Mr. Vinh.

Specifically for the textile and garment industry, Mr. Le Tien Truong, Chairman of the Board of Directors of the Vietnam National Textile and Garment Group, expressed the viewpoint that greening the textile industry will create numerous sustainable green job opportunities for workers, contribute to stabilizing livelihoods, enhancing working conditions, and contributing to national social security efforts.

In reality, the domestic textile and garment industry also faces many opportunities to transition towards greening, especially as the shift in supply chains is increasingly focusing on Vietnam, and the legal system and policies are relatively well-developed according to international standards...

"The trend towards green textile production will help Vietnamese businesses secure stable orders with good efficiency in the future," emphasized Mr. Truong.

Adding further, Mr. Nguyen Quang Vinh bluntly stated that alongside opportunities, Vietnamese businesses will also confront significant challenges such as the pressure to change mindsets, issues regarding design, reinvestment in production models/equipment, workforce training, and hiring consultants for implementation...

"With over 97% being small and medium-sized enterprises with limited resources, Vietnamese businesses are facing considerable financial challenges in pursuing the path of green economy," Mr. Vinh noted.

Apart from internal business issues, the coordination among ministries, sectors, and localities tasked with promoting green growth is sometimes not synchronized, affecting efficiency and posing specific difficulties for businesses. Investment resources for green economy and green growth remain limited, and there hasn't been a substantial inflow of resources from businesses. Green finance and green credit are in the nascent stages of development in Vietnam, with green credit outstanding as a modest proportion of total credit balances in commercial banks...

NEED TO IMPROVE POLICY FRAMEWORK FOR GREEN GROWTH

Sharing some solutions to promote green finance in Vietnam, Mr. Phan Duc Tu, Member of the Central Enterprise Bloc Party Committee, Secretary of the Party Committee, Chairman of the Board of Directors of BIDV Vietnam, suggests that Vietnam first needs to develop a comprehensive strategy to develop the green finance market harmoniously and effectively among capital channels, aligned with economic and social development directions and goals by 2030, with a vision to 2045.

Vietnam also needs to refine the policy framework for developing the green finance market. Policies related to the green finance market should be promptly issued in conjunction with or integrated into policies on green growth, circular economy, energy transition, and climate change adaptation. Additionally, there should be mechanisms, preferential policies, and supports related to taxes, fees, interest rates, etc., to assist localities and businesses in their green transition efforts.

The Chairman of the Board of Directors of BIDV Vietnam also suggests that mechanisms and policies are needed to attract capital (both state and private) for green investments, through the issuance of policies granting tax exemptions and reductions, fees, charges, and interest rates, and supporting related costs for issuing green bonds and providing green credits; simplifying administrative procedures in the process of issuing green bonds and granting green credits as mentioned above. He proposes researching the establishment of a Green Development Fund; enhancing the effectiveness of the Environmental Protection Fund, Science and Technology Fund...

Mr. Tu proposes that the government promptly issue regulations for classifying and certifying green projects, ensuring alignment between Vietnam's green criteria and international standards, along with corresponding incentive policies based on the degree of compliance with green criteria from low to high. In this way, enterprises issuing green/sustainable bonds can gradually access incentive policies and establish goals/motivations for achieving sustainable growth. Additionally, in cases where projects or project components do not ensure green criteria after each evaluation period, violations should be rectified, information about violations should be disclosed, and reconsideration should occur after rectification is completed.

The government also needs to refine policies, simplify procedures, and encourage domestic organizations to participate in the process of certifying and labeling green project frameworks and green bonds according to international standards. Furthermore, developing standard documentation (pre-issuance information disclosure, regular reporting, etc.) to guide the issuance of green bonds domestically and internationally will serve as a basis for unified implementation by participating entities.

The state needs to refine policies, simplify procedures, and encourage domestic organizations to participate in the process of certifying and labeling green project frameworks, green bonds, and labeling projects according to international standards.

Mr. Phan Duc Tu, Chairman of the Board of Directors of BIDV Bank

We need to pay attention to developing the financial market, especially the corporate market, stock market, investment funds, derivatives market, and carbon credit market.

The government and ministries need to have policies and solutions to support enterprises and financial institutions in accessing international green finance sources, training programs, and international experience exchange on green growth and green finance (through streamlining administrative procedures in project planning, approval, and disbursement; issuing timely and understandable criteria for green projects and structures).

Enterprises and financial institutions need to have plans and strategies for green development, build a green culture, train and enhance the capacity of personnel related to green finance, green credit, and environmental-social risk management.

Looking at the green economy from the perspective of low-carbon industrial development, economic expert Doan Cong Khanh frankly points out the concerning reality that rapid development today is accompanied by many negative environmental impacts, including greenhouse gas emissions from industrial processes (IP).

"In 2014 alone, IP emitted 38.6 million tons of CO2e, accounting for 12% of the national total emissions. If Vietnam strives for high economic growth without considering structural changes within each sector and economic sector composition in total value added, by 2035, Vietnam could be one of the leading countries in pollution," Khanh cited.

Proposing solutions, economic experts argue that it is necessary to harmoniously combine the country's internal strengths with mobilizing resources from outside for development; simultaneously, focus development efforts on exploiting comparative advantages of each region, sector/industry to achieve breakthroughs and modernize and expand regional linkages.

Additionally, it is crucial to plan and implement policies aimed at enhancing energy efficiency, focusing on restricting investments in energy-intensive industries and incentivizing tax breaks for energy-saving technologies.

Furthermore, experts also emphasize that the state needs to refine institutional frameworks, policies, development models, and management of industrial zones, as well as provide tax incentives, land policies, and other forms of support.

CHALLENGES IN DEVELOPING GREEN AGRICULTURE LOCALLY

From a local perspective, representatives from the Department of Agriculture and Rural Development of Nam Dinh province reported that in recent years, agriculture in Nam Dinh has achieved stable development, actively transitioning towards high-scale, high-efficiency commodity production. The growth rate of agricultural, forestry, and aquatic product values over the past five years has stabilized at 2.5-3.0% annually. Production sectors are increasingly focusing on safety, organic methods, and products under the One Commune One Product (OCOP) program linked with building new rural areas.

The sector has proactively expanded international cooperation in agriculture with advanced agricultural countries like Japan, South Korea, and international organizations such as VFD, GCF, WB, ADB,...

However, the department also noted that the development of green agriculture in Nam Dinh province still faces numerous challenges and limitations. Production scale remains fragmented and small; the quality and competitiveness of agricultural products are not yet high; policies encouraging commodity production, accumulation, and attracting investment into agriculture are not fully synchronized; development of technology-intensive agriculture is progressing but lacks uniformity.

The agricultural sector has not yet attracted many financially capable enterprises, especially those applying advanced technologies, to invest in agriculture. Public awareness about green agricultural development remains incomplete, and the access to scientific and technological knowledge is limited, which slows down the progress of green agriculture.

Therefore, the Department of Agriculture and Rural Development of Nam Dinh province eagerly seeks to mobilize social resources, especially from enterprises, to achieve green growth goals. They aim to enhance international cooperation to solicit financial support and technology transfer, thereby promoting the development of green agriculture, low-carbon initiatives, food safety, and improving competitiveness in agricultural value chains. Policies are in place to provide financial incentives and simplify procedures to facilitate investment and expand production.

Meanwhile, Mr. Ngo Minh Long, Director of the Department of Agriculture and Rural Development of Hau Giang province, mentioned that in recent years, the agricultural sector of Hau Giang province has gradually transformed its production model to meet green growth and sustainable consumption demands. They aim to enhance the competitiveness of agricultural products, develop technologies for processing and reusing by-products and waste, stabilize the economy, and improve the quality of life for farmers. This approach also safeguards natural resources and agricultural ecosystems, contributing to sustainable agricultural development and promoting green economic growth.

Furthermore, Hau Giang province is actively promoting green, safe, and sustainable agricultural models that yield high efficiency. They enhance the quality and value of agricultural products through various models such as VietGAP and GlobalGAP certification on crops, livestock, and aquaculture products. The province is oriented towards organic production and safe, sustainable practices, with the issuance of production area codes to facilitate exports.

"To date, the province has established and developed certification models for good agricultural practices (GAP), models for enhancing agricultural product value, and multi-value integrated models in agricultural economic development," stated Mr. Long.

Regarding the challenges faced by the province, Mr. Ngo Minh Long believes that there is a need to enhance farmers' awareness of green production. There should be mechanisms and policies to support the development of green agriculture, as well as credit policies suitable for households to invest in expanding production scale.

The agricultural sector needs to innovate through a comprehensive system of solutions, developing eco-agriculture towards multiple values and sectors, integrating economic, social, and environmental values. It is crucial to maximize the natural advantages of each region for agricultural development, ensuring interaction with the ecological environment.

Market issues for farmers in the consumption of agricultural products need to be addressed by establishing specialized production areas with large-scale, standardized farming processes. Simultaneously, digital transformation should be promoted to connect information between production and consumption, thereby enabling product origin traceability. This is a key factor in positioning a green agriculture sector.

Concluding the seminar, Comrade Lai Xuan Mon, Central Committee member of the Party, Deputy Head of the Permanent Committee of the Central Committee's Propaganda Department, and Chairman of the Science Council of Central Party Agencies, affirmed: The seminar was successfully organized. Leaders, scientists, experts, and representatives of the business community focused on analyzing and clarifying scientific topics related to the theme of Green Economic Development - Theory and Practice.

Mr. Lai Xuan Mon confirmed that opinions from experts, scientists, and delegates will provide additional useful scientific evidence, contributing to addressing the current issues regarding green economic development in Vietnam.

"Many excellent models, profound lessons learned, and valuable solutions proposed in today's seminar will serve as a foundation for agencies to formulate recommendations to the Party and the State. These recommendations aim to continue building and developing a sustainable, efficient, and growth-oriented green economy in Vietnam in the near future, contributing to realizing the goal of transforming our country into a modern industrial nation," emphasized Mr. Lai Xuan Mon.