Deputy Minister of Industry and Trade Nguyễn Sinh Nhật Tân speaking at Việt Nam Export Promotion Forum 2024. — VNA/VNS Photo Uyên Hương

Việt Nam has significant opportunities to become an important link in the global supply chain of green exports and sustainability. That was the assertion of Deputy Minister of Industry and Trade Nguyễn Sinh Nhật Tân at Việt Nam Export Promotion Forum 2024 held on Wednesday in Hà Nội.

He said the country is a hub for renewable energy, green production, digital economy and the circular economy,

Themed 'Green Export Promotion', the forum, organised by the Ministry of Industry and Trade, with the support of the Swiss government, aims to support Vietnamese enterprises in the transition of growth model towards sustainability, carbon reduction and improving global competitiveness.

The preparations for the supply sources of export products adapting effectively to sustainable standards is vital to the Vietnamese economy, Tân said, adding that this will not only help Việt Nam meet the requirements of the international market but also contribute to enhancing the country’s position and realising commitments to global sustainable development goals.

This transformation requires a synchronous strategy from the Government’s policies and support to the proactive efforts of enterprises in investing in green transition, as well as coordination among stakeholders.

“Sustainable development has become a trend that guides the development strategy of every country. Sustainable economic growth is considered a fundamental pillar, a premise for implementing socio-economic development goals while protecting the environment,” he said.

“Green and sustainable growth is not only an inevitable trend but has become a prerequisite for maintaining competitiveness and ensuring long-term development.”

He pointed out that policies such as European Green deal, the Carbon Border Adjustment Mechanism (CBAM) and the Circular Economy Action Plan or the Biodiversity Strategy to 2023 are shaping the growth approach, economic, trade and investment cooperation around the world.

These policies not only focus on emission reduction targets, but also set stricter standards on social responsibility and environmental protection, requiring exporting countries to change their production methods and approaches, Tân said.

Speaking at the forum, Andri Meier, Deputy Head of Development Cooperation, Embassy of Switzerland in Việt Nam, said that in the context of rapidly changing international trade with rising environmental challenge, sustainable development is no longer an option but a must-do as rapidly as possible.

Customers, enterprises and governments have given more priority to products and services that go hand in hand with social and environmental sustainability, he said.

“We are aiming to strengthen the capacity of the business community to grow sustainably, in line with the demand of the global economy.”

In particular, Việt Nam is a dynamic economy with strong commitments to sustainable development, providing significant opportunity for enterprises to enhance competitiveness, he said, adding that the Swiss Government is committed to supporting Việt Nam in the green transition process.

The Swiss Embassy is preparing an economic development cooperation framework with Việt Nam for the 2025-28 period which will aim to support the country in its journey towards a more resilient and high-income economy.

EuroCham’s Deputy President, Nguyễn Hải Minh, said enterprises need to proactively invest in green transition processes to expand exports to the EU. This might be a large sum in the short term, but will bring significant long-term benefits. — VNS