Measures sought to promote private investment for green growth

Friday, Nov 05, 2021 07:36


Attracting private investment in activities towards promoting green growth will contribute to realising Viet Nam’s green growth strategy and commitment to reduce greenhouse gas emissions, experts have said.

According to deputy director of the Central Institute for Economic Management (CIEM) Nguyen Hoa Cuong, green growth is a very important issue and an inevitable trend for long-term development of the world and Viet Nam in particular.

Businesses are both subjects and partners in the issues of global warming, environmental pollution and natural resources degradation, therefore drawing private investment in green growth activities is essential to Viet Nam’s green growth strategy, Cuong said in a workshop on enhancing the role of private investment in green growth for the 2021-30 period on Wednesday.

The workshop, jointly held by CIEM and the German development cooperation agency (GIZ), is part of activities within the framework of the “Macroeconomic Reforms/Green Growth Programme” implemented by GIZ in Viet Nam under the authorisation of the Federal Ministry for Economic Cooperation and Development (BMZ).

Michael Krakowski, Director and Chief Technical Advisor of the Macroeconomic Reforms/Green Growth Programme in Viet Nam, said that Viet Nam is experiencing rapid economic growth but also suffering negative impacts from climate change, air and environmental pollution.

This is a huge challenge that requires timely and effective response measures to ensure sustainable development, he said, adding that Viet Nam needs to persistently promote and support clean production on a large scale and expand investment in clean and renewable energy development.

Meanwhile, Ho Cong Hoa, a representative of the CIEM’s research team, said that it is necessary to have a consensus in opinions on building and completing a legal corridor, mechanisms and policies towards encouraging private enterprises to invest in green growth and environmental protection.

He proposed the Government and relevant agencies issue a pilot mechanism to implement projects in the form of public-private partnership (PPP) in water and waste collection and treatment and water supply in rural areas.

Besides, it is necessary to force polluters to pay, and accelerate administrative reforms to ensure a transparent and fair investment environment for private firms in this field, he added.

Participants also mentioned shortcomings and weaknesses in formulating and implementing solid waste treatment plans, and unstable power purchasing and selling policies, saying that these are reasons that affect the access, investment and implementation of private-funded projects to serve the goal of green growth.

The Government needs to synchronously carry out solutions to create an attractive investment environment, improve the legal framework quality and capacity in realising policies to attract private investment in green growth in the 2021-30 period, they said. — VNS


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