Three pioneers, three forward pushes
On the morning of March 19, in Hanoi, Prime Minister Pham Minh Chinh chaired a meeting with the foreign direct investment (FDI) community and the Vietnam Business Forum 2024 (VBF 2024) with the theme “FDI Enterprises Leading the Way in Implementing Green Growth Strategies”.
After listening to all the opinions and proposals from the associations and FDI businesses, the Prime Minister expressed his appreciation for the understanding, intelligence, sense of responsibility, and frankness of the participants; he assigned the Ministry of Planning and Investment and the Government Office to synthesize, study, and absorb the opinions to build, improve, and issue the Prime Minister’s directive on green growth.
Prime Minister Pham Minh Chinh speaking at the meeting with the FDI business community and VBF 2024 (Photo: TTXVN).
The Prime Minister affirmed that the Government always listens and shares with partners, investors, and contributes to a peaceful, stable, cooperative, and developed environment; to work, to enjoy, to win, and to develop together. The head of Government emphasized that he has never refused to meet with any business association if he is present in Hanoi.
The Prime Minister emphasized that not only in terms of quantity, the FDI sector also makes important contributions to improving the quality of Vietnam’s economy. The operations of multinational corporations, large-scale, modern technology contribute to upgrading technology, management skills, and improving Vietnam’s position in the global supply chain.
Sharing the viewpoint of green growth, the Prime Minister said that Vietnam considers green growth along with digital transformation as two core factors in the process of restructuring the economy and transforming the growth model. Vietnam firmly rejects the model of “growth first, clean up later”; not to pursue growth at any cost; to shift the growth model from “brown” to “green”; to mobilize and effectively use internal and external resources for the development of a green ecosystem, circular economy, low-carbon, energy transition…
The Prime Minister proposed and desired that FDI enterprises continue to accompany and support Vietnam in terms of capital, institutions, technology, management, and human resource training.
The Prime Minister called on FDI enterprises and foreign investors to accompany Vietnam in implementing green transformation and sustainable development with the spirit of “three pioneers, three forward pushes”.
Specifically, FDI enterprises will take the lead in understanding, thinking, and acting towards green growth; taking the lead in innovation, technology transfer, and application of Industry 4.0; taking the lead in implementing projects and plans, rejuvenating traditional growth drivers, adding new growth drivers.
The “three forward pushes” are based on strengthening cooperation and sharing of experiences, policy consultation for Vietnam; strengthening financial and technical support focused on projects with spillover effects that change the situation; strengthening cooperation in training human resources, especially high-quality human resources serving the semiconductor industry, green transformation, digital transformation…
Vietnam commits not to have power shortages
For Vietnam’s part, the Government commits to “three guarantees”, including guaranteeing the legitimate rights and interests of businesses in general and FDI; guaranteeing the preservation of independence, sovereignty, unity, territorial integrity, political stability, social order, and stable policies; guaranteeing stable energy in the direction of green transformation.
In response to the investors’ request for ensuring continuous power supply, the Prime Minister affirmed that power shortage will not occur with many different solutions, including the implementation of direct power purchase mechanisms, and expects to receive support as Intel has recently registered for implementation. Regarding the Power Plan 8 that foreign investors are eagerly waiting for, the Prime Minister said that the content in the plan will be included in the implementation plan, with adjustments and reviews but not subjectively and hastily.
The Prime Minister and representatives of FDI enterprises.
“We commit not to have power shortages; the total supply will not be scarce, but it is due to poor management. You can rest assured that there will be enough power, towards green growth,” the Prime Minister shared.
Also regarding the investors’ request for continuous power supply, Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said that the Prime Minister has issued Directive No. 05/CT-TTg regarding power balance and ensuring no power shortage in any situation, and the Ministry of Industry and Trade is making efforts together with the electricity sector to accomplish this task.
“We can affirm and commit that there will be no power shortage in 2024 and the coming years,” Deputy Minister Nguyen Sinh Nhat Tan asserted and said that not only stable power supply but also improving the quality of power sources.
To ensure stable power supply, according to the Deputy Minister of Industry and Trade, the Prime Minister is also concerned about developing the North – South 500kV transmission line to develop the power grid. This demonstrates the Prime Minister’s close attention and guidance, the effort to ensure no power shortage. The Ministry has completed the implementation plan, and it is expected that the Government will approve the implementation plan of Power Plan VIII this week.
In addition, the Ministry of Industry and Trade has also implemented technological solutions to develop balanced new energy sources, renewable energy sources, and increase the integration of renewable energy into the power system to ensure stable power supply.
