Green growth investment vital to businesses

16:17 | 15/10/2015 Economy

(VEN) - Vietnam Economic News’ Nguyen Hoa spoke with Vietnam Chamber of Commerce and Industry (VCCI) Deputy Secretary General Nguyen Quang Vinh about Vietnam’s green growth prospects.

Green growth investment vital to businesses

What is the role of the business community in implementing the Vietnam Green Growth Strategy which was approved back in 2012?

The Vietnamese government, the United Nations, and international organizations believe that the business community plays a very important role in implementing the UN’s sustainable development goals as well as 66 national actions mentioned in the Vietnam Green Growth Strategy, and that it is businesses that propose green growth solutions such as energy-saving solutions to cope with climate change, material saving, water and waste treatment, maintenance of biopersity, and environmental protection solutions.

How can businesses benefit from investment in green growth?

In the context of Vietnam’s deepening and broadening integration into the regional and global economies, with a number of free trade agreements, investment in green growth is vital to businesses. If businesses don’t embrace green production, their products won’t be able to attract consumers and compete in the global market. So, promoting green growth is not only a challenge but also an opportunity for Vietnamese businesses to invest in technology to improve production and enhance their competitiveness so that they can integrate more deeply into the global market. Investment in green growth will bring practical national benefits, helping Vietnam cope with climate change, while at the same time benefiting businesses and consumers.

What difficulties are facing Vietnamese businesses in implementing the strategy?

Vietnamese businesses have encountered numerous difficulties in implementing the strategy because 96 percent of them are small to medium in size and still reveal limitations in terms of awareness and resources (capital, technology, human resources, management skills, and access to information).

The prime minister has approved the Vietnam Green Growth Strategy and a national action plan for green growth, and recognized businesses as entities that create a motive force for building a green economy. However, mechanisms and policies that offer support for business investment in green growth remain inadequate. In the time to come, along with improving business awareness about green technology, I think the state needs to establish a specific fund to provide businesses with assistance in terms of capital to facilitate their investment in green growth.

Are there any statistics on the results of business investment in green growth?

Many companies have introduced green solutions for sustainable growth of their own business and the entire economy, and the number of these companies continues increasing. But so far no statistics have been made to indicate the specific percentage of 500,000 Vietnamese businesses, which have applied green production technologies, and how they have applied these technologies. This is a big mistake.

To encourage investment in green growth, in my opinion, it is necessary to review and assess the results of investment in this field so that action can be taken to help businesses.

Investment in green growth helps businesses enhance their competitiveness and promote sustainable development.


Nguyen Hoa