Deputy Prime Minister Bùi Thanh Sơn speaks at the 2024 Green Economy Forum and Exhibition in HCM City on October 21. - VNA Photo

Việt Nam wants to strengthen co-operation with the EU for green transformation, and views the bloc as an important partner, Deputy Prime Minister and Minister of Foreign Affairs Bùi Thanh Sơn said at the 2024 Green Economy Forum and Exhibition, which opened in HCM City yesterday (October 21).

Organised by the European Chamber of Commerce in Việt Nam (EuroCham Vietnam) and the Ministry of Industry and Trade, the event features an exhibition showcasing modern green technologies and solutions by 200 exhibitors from a number of countries.

Deputy PM Sơn said Việt Nam and the EU should work closely for green growth and energy transformation.

Việt Nam is eager to work with the EU to facilitate ideas on green energy by sharing experiences in developing low-emission agriculture, green energy transformation and renewable energy, he said.

"Việt Nam wishes to continue receiving valuable assistance from the EU in terms of finance, technology and training.

“I would like EU member countries to share their experience in developing a carbon credit market and linking it with the international market, and implementing green hydrogen projects."

Sơn wanted European businesses to invest in research centres in Việt Nam in areas like renewable energy, green hydrogen, green infrastructure, digital transformation, smart agriculture, and low-emissions industry.

According to the Deputy PM, in a fluctuating world, green transformation and green economic development are inevitable trends and a strategic choice for any country.

“Việt Nam will not sacrifice development, social equality and the environment to chase economic growth.”

The country has set comprehensive targets and identifies green growth as having a part in economic restructuring to achieve prosperity and environmental sustainability, Sơn added.

He noted that Việt Nam has a number of solutions to facilitate green economic growth by tackling climate change, reducing emissions, facilitating energy transformation, and pursuing a carbon-neutral future.

For instance, there are plans to develop hydrogen power and one million hectares of high-quality rice farms with low emissions, and targets for green growth.

The country is also improving its policies for managing, harvesting and using natural resources, resolving bottlenecks to speed up 16 sustainable development projects worth $2.5 billion in the Mekong Delta and helping businesses change their production to meet new green criteria.

Last December, Việt Nam announced a resource mobilisation plan for establishing a Just Energy Transition Partnership.

Speaking at the event, Margaritis Schinas, vice president of the European Commission, said an important area for Việt Nam and Europe co-operation is green transition and their fight against climate change, biodiversity loss and natural disasters.

"Việt Nam is particularly exposed to these risks, and so, in the years to come, we are committed to broadening our co-operation with Việt Nam in the areas of green transition.

“I look forward to visiting some of these projects that we are already financing."

Alain Cany, co-chairman of the organising committee, said: “Việt Nam is a key market for European investment, while Europe is a key market for Vietnamese exports. Only by working and committing together can we succeed in the transformation that all of us are striving for.”

Meanwhile, Bruno Jaspaert, chairman of EuroCham Vietnam, said climate change has been affecting people around the world in recent times.

EU companies in the country could boast several achievements in green transformation such as Nestle's sustainable coffee farming chain, a Danish LEGO factory in Binh Dương which is LEED (Leadership in Energy and Environmental Design) certified and many others, he said.

Conferences are being held to discuss green transformation. - VNA Photo

Phan Văn Mãi, chairman of HCM City People's Committee, said green growth is a top priority, and the city has launched an action plan for 2024 – 2030 for green finance, green energy, green buildings, and others.

“HCM City strives towards a green economy and carbon neutrality and aims to reduce emissions by 10 per cent by 2030.”

The exhibition is being held from October 21 to 23 at the Thiskyhall Sala Convention Centre in Thủ Đức City.