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Vietnam National green growth strategy for 2021-2030

In the last two decades, Vietnam has been rising as a major manufacturing country. Inside the country, manufacturing is steadily rising and it is contributing to a fourth of the GDP by 2022. With the growing industrialization, the country has been acutely aware of its commitments to sustainable technologies and climate change issues too.

The 2012 Green Growth Strategy was the first of its kind in the country. The successor of the strategy has also been released for the 2021-2030 period. The policy document outlines the political support for the green growth of the country. Vietnam aims to accomplish it by restructuring its economy in order to make it carbon neutral.

According to United Nations Conference on Trade and Development data, Vietnam was the best performing country in global export growth in 2019. Post-pandemic, change in preferences in the west will ensure that Vietnam gets more FDI and export share. Garments, footwear and electronics remain the key industries which have continued to find Vietnam as the next hub of manufacturing. With rising industrialization, Hanoi will be hard pressed to meet green targets as most of the energy consumption in the country comes from thermal power plants. Coal is responsible for 34% of the energy generated in 2020 and Vietnam has a target to reduce coal-based power to 27 percent in 2030.

Vietnam’s textile sector is performing admirably with the YoY export growth reaching 17% in the first 10 months of 2022. The Vietnam Textile and Apparel Association (VITAS) has announced that it is going to target making the sector more environment friendly by 2030. VITAS revealed plans to reduce energy consumption by 15% and water consumption by 20%.

Vietnam intends to reduce greenhouse gas emissions intensity per unit of GDP by 15 percent by 2030 and 30 percent by 2050, compared to 2014. It will boost circular economic model for efficient utilization of natural and energy resources in addition to using S&T, digital technology, sustainable infrastructure, etc for climate friendliness and green economy.

By the end of this plan i.e., 2030, the proportion of renewable energy is expected to reach 15-20 percent, digital economy will account for a third of economy, and primary energy consumption will decrease 1-1.5% per unit of GDP. By 2050, renewable energy is set to be doubled to reach 30% and digital economy will contribute around 50% of GDP. By 2020, Vietnam had 102 solar plants with a combined production of 6.3 GW while the net installed capacity of power-generation is 56 GW.

The plan also involves other parameters such as processing municipal solid waste, human development index, recyclable waste, public transport, green public procurement, etc. Such as, the strategy aims at increasing human development index to 0.75 by 2030 and 0.8 by 2050. Some of the experts of the strategic orientation of the green policy includes ‘modern, clean, organic and sustainable agriculture; facilitate the conditions for the development of new green manufacturing industries,’ apply modern technologies so as to raise the quality of the distributed electricity, reduce power loss and raise the efficiency in electricity,’ ‘develop sustainable traffic, energy and irrigation infrastructure,’ ‘sustainable urbanization,’ ‘build new rural areas where the lifestyle is in harmony with the environment and nature; addressing water/air pollution,’ ‘promote green consumption and purchases through energy labelling, eco-labelling, green labeling,’ ‘strengthen the management of water resources, land resources and biodiversity,’ etc. To establish the broad overarching plan spanning across many departments, a national steering committee on green growth will direct the implementation with the Ministry of Planning and Investment acting as the national focal point and coordinating with relevant organs in the formulation of the steering committee’s actions. On an annual basis, various ministries and other departments will submit reports on strategy’s implementation to the Planning ministry too.

The local and national planning for the respective departments will be done by the Ministry of Planning along with the individual ministries, branches and localities. The capital for the green strategy will be drawn from the Vietnamese national budget, capital of enterprises, international financing and other sources. Vietnam’s green plan is crucial to adapt to sustainable technologies as the country makes a transition as a global hub of manufacturing. Climate concerns have become a major and unavoidable part in global supply chains lately.

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