EuroCham advocates for green transformation policy at Vietnam Connect Forum 2024

On Wednesday, 10 April, the 4th annual Vietnam Connect Forum brought together government leaders, businesses, and international partners today to discuss “Vietnam’s Pathway to a Green & Sustainable Economy.” The one-day event, co-chaired by the Ministry of Foreign Affairs, the Hai Phong People’s Committee, and the Vietnam Economic Times, provided a platform for a decisive dialogue on implementing policies and initiatives to drive Vietnam’s green economic development.

The forum focused on facilitating networking, exchanges of information, investment promotion, and trade cooperation between international partners, foreign business groups, local authorities, and enterprises. By convening these key stakeholders, the Forum supported Vietnam’s integration into global value chains. Additionally, this year’s choice of Hai Phong as the event location underscores the city’s crucial role as an economic powerhouse in the northern region.

The spotlight was on Vietnam’s green economic development, reflecting the global shift towards sustainability, decarbonization, and the pursuit of net zero emissions. Government leaders, including Deputy Prime Minister Tran Hong Ha, emphasized the importance of aligning national strategies and policies towards achieving a green, sustainable economy. Additionally, Deputy Minister of Foreign Affairs Nguyen Minh Hang, Deputy Head of the Party’s Central Economic Commission Nguyen Duc Hien, Deputy Minister of Natural Resources and Environment Le Cong Thanh, and Hai Phong Party Secretary Le Tien Chau, lent their respective insights to Vietnam’s green transformation. 

Credit: VNEconomy 

EuroCham actively participated in the forum with Vice-Chair in charge of External Relations Minh Nguyen in attendance. He was joined by Co-chair of our Green Growth Sector Committee (GGSC) Erick Contreras, and Advisory Board Member Bruno Jaspaert, representing Deep C, who spoke at a panel discussion on “International resources supporting the green transformation process in Vietnam and policy recommendations.”

At the forum, EuroCham GGSC Co-Chair Erik Contreras raised several key advocacy points on renewable energy, sustainable cities and buildings, and circular economy. 

On renewable energy, Mr. Contreras highlighted barriers like unclear investor processes in the national Power Develop Plan (PDP) VIII  implementation plan, lack of clarity in the amended Electricity Law hampering transmission network investment, and uncertainty around power purchase agreement functionality impacting large-scale international investments. 

His key recommendations were to prioritize transparent mechanisms to stimulate energy efficiency investments, including reducing electricity price subsidies, and to maximize renewable energy contribution from solar, biomass and wind by clarifying a timely, coordinated approach to allocating projects.

For sustainable cities and buildings, Mr. Contreras urged enforcing and promoting sustainable building materials and reuse solutions. He also called for preparing a clear urban planning roadmap that goes beyond just green buildings to also cover water, waste and traffic management for mobility and connectivity. 

Addressing the circular economy and water, Mr. Contreras recommended implementing water-sensitive urban design utilizing blue-green infrastructure for modern stormwater management to prevent flooding. He advocated for engaging international water companies through transparent public tenders and consultations.

EuroCham GGSC Co-Chair Erik Contreras speaking at the panel

A highlight of the forum was the unveiling and honoring of exceptional foreign direct investment enterprises in Vietnam. The prestigious 23rd Golden Dragon Awards celebrated the top 10  outstanding companies in 2023 including EuroCham’s Corporate Partners Heineken, and members HSBC, Lego, and UOB. It also recognized the Top 50 exceptional FDI enterprises such as our Corporate Partners Deep C, Unilever, Piaggio, and members Siemens and Fraser Property. We congratulate our members in showcasing their commitment to sustainable practices and contribution to Vietnam’s green economic agenda.