Vietnam gets serious about going green for its exports

- Vietnam News/ANN

HANOI: Vietnamese businesses need to promote the green transformation of production and exports to develop sustainably and meet the global green-consumption trend.

Industry and Trade Deputy Minister Do Thang Hai said this at the Vietnam Export Promotion Forum 2023 in Hanoi.

The event, organised by by the Department of Trade Promotion with the coordination of Swiss Import Promotion Programme, centred around green export promotion.

The forum aims to discuss practical solutions for green development and green exports and supportive solutions for businesses to meet the requirements of foreign markets.

In his opening speech, Hai said that the issues of green development and green exports were no longer new topics.

Green growth, green development and the circular economy have become global trends because they are positive solutions to reduce greenhouse-gas emissions, and while improving the resilience of the economy as it moves towards the goal of carbon neutrality and sustainable development.

According to the deputy minister, green and sustainable development is one of the important tasks in Vietnam’s 10-year socioeconomic development strategy 2021-2030, the Goods Import and Export Strategy to 2030, and the National Strategy on Green Growth 2021-2030.

Meanwhile, many developed countries in the world have set stricter environmental regulations for imported goods, such as the EU’s Carbon Border Adjustment Mechanism (CBAM); Farm to Fork Strategy; Circular Economy Action Plan, and Biodiversity Strategy for 2030.

According to the deputy minister, in order not to be eliminated from the game due to the high environmental and social standards set by the import markets, exporting countries such as Vietnam, need to pay attention to the “green” supply chain in international trade to meet the strict technical requirements in foreign markets.

Hai emphasised that in order to reach the goals, from 2022, Industry and Trade Ministry had directed and supported local businesses in converting growth models towards reducing carbon emissions.

The ministry also promulgated policies and mechanisms to support enterprises in applying green technology and improving energy efficiency.

The government had approved the National Electricity Development Plan for the period 2021-2030, with the goal of promoting the development of renewable energy sources and sharply reducing the use of coal.

In addition, the Industry and Trade Ministry regularly works with Vietnamese trade agencies abroad, business organisations and commodity associations to exchange the latest information on international regulations and legal policies in importing countries.

This is especially regarding regulations on the reduction of greenhouse-gas emissions, and policies and standards on green products.

This helped local businesses improve awareness and capacity to meet the regulations of importing countries.

Director of Vietnam’s Trade Promotion Agency Vu Ba Phu also pointed out that local enterprises needed to focus on developing green exports because products that meet green standards and carbon certification would have higher selling prices than normal export products. — Viet Nam News/ANN

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