Prime Minister’s Meeting with the FDI Business Community and the Annual Vietnam Business Forum – Photo: VGP/Nhat Bac
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At the Prime Minister’s Meeting with the FDI Business Community and the Annual Vietnam Business Forum, Minister of Planning and Investment Nguyen Chi Dung analyzed: The world is increasingly seeing many new and strong trends, in which green growth has become an essential trend, an indispensable factor for sustainable development.
Both businesses in general and FDI businesses in particular will be both the object and the active subject participating in the implementation of the Party and State’s guidelines and policies, especially the policy of building and improving a fast and sustainable development institutional framework in the new period. FDI businesses must take the lead in realizing the goals and solutions of the Green Growth Strategy for the period of 2021-2030, with a vision to 2050 approved by the Prime Minister, including promoting ESG application in production and business.
We have just gone through the year 2023 with many difficulties, challenges, in a world context that changes rapidly, complexly, unpredictably, and strongly impacts all economies. However, the Vietnamese economy still achieved encouraging and comprehensive results in many sectors, fields, continued to be a bright spot in the region and the world’s economy, recognized and highly appreciated by the international community.
In 2023, the macroeconomy was basically stable; inflation was lower than the set target; growth was boosted; major balances of the economy were ensured. Vietnam’s GDP growth rate reached 5.05%, belonging to the group of high-growth countries in the region and the world. The scale of the economy is equivalent to 430 billion USD; the total social investment capital reached 3,423 trillion VND, an increase of 6.2%; of which, FDI disbursement reached an estimated 23.18 billion USD, up 3.5% compared to the previous year and the highest level in the past 5 years. In 2023, Vietnam attracted 36.6 billion USD total registered foreign investment capital, up 32.1% compared to the previous year.
Minister Nguyen Chi Dung affirmed: The achievements of the Vietnamese economy in recent years cannot fail to mention the important role of the foreign-invested economic area, which is strong evidence of the consistent policy of Vietnam that considers the foreign-invested economy as an important integral part of the economy, encouraged, and creates conditions for long-term and healthy competition with other economic regions.
FDI businesses not only invest efficiently and contribute to the socio-economic development of Vietnam but also accompany the Government in consulting on policies and laws, making an important contribution to improving the business investment environment in Vietnam to be open and transparent.
Minister of Planning and Investment Nguyen Chi Dung speaks at the Conference – Photo: VGP/Nhat Bac
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The Minister of Planning and Investment said: Recovery and development of the economy towards green and sustainable growth is currently the top priority and the goal that every country is aiming for. The overall goal is to achieve prosperity in the economy, sustainability in the environment, and social equity. For Vietnam, green growth is not only a necessary choice but also an opportunity to become a pioneering country in the region, catching up with the development trend of the world.
Aware of the importance of green growth for the future of the country, the Prime Minister has approved the National Strategy for Green Growth for the period of 2021-2030, with a vision to 2050. The strategy clearly defines that green growth is an important solution to promote the restructuring of the economy associated with innovation of the growth model, enhancing competitiveness, directly contributing to reducing greenhouse gas emissions towards a carbon-neutral economy in the long run. Green growth puts people at the center, based on modern institutional and governance, advanced science and technology, high-quality human resources, investing in advanced technology, digital transformation, smart and sustainable infrastructure.
In the process, the business community is identified as a key factor, playing an important role. With strengths in capital, technology, management, networks, and markets…, FDI businesses must play a pioneering role, leading, and accompanying domestic businesses in realizing the goals of the Green Growth Strategy.
In recent years, the business community has taken practical actions to contribute to the green growth goals such as using clean energy, environmentally friendly materials, investing in modern, high-tech production lines, using fewer resources and energy, minimizing emissions, implementing ESG (environmental, social, governance)…
With its potential, economic geographical position in the global supply chain, Vietnam is facing a great opportunity in green growth to be able to transform, catch up, advance, surpass, forge ahead, and create momentum for a leap in economic, social, and environmental development. Green growth orientation is the key to ensuring successful implementation of the goals in the 10-year Socio-Economic Development Strategy from 2021-2030; creating opportunities for Vietnam to continue innovating, promoting deepening transformation of the growth model, emphasizing quality, efficiency, and sustainability at the entire economy level as well as at the business level.
With that significance, the choice of the theme “FDI Businesses pioneering in implementing the Green Growth Strategy” for this conference has demonstrated the strong determination of the Government as well as affirmed the special and important role of the business community, especially FDI businesses in implementing green growth to realize the strategic goals of: reducing greenhouse gas emissions intensity, greening the economy, strongly promoting the process of green transformation based on all-encompassing, equal, mutually beneficial principles, enhancing resilience and not leaving anyone behind.
