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| At the Ministerial Panel Session. Photo: MPI |
Deputy Minister Ngoc said at the GGGI Council’s plenary session that through its representative office in Vietnam, the GGGI is working with the Ministry of Planning and Investment (MPI) to develop some green transformation projects to help Vietnam achieve its climate goals.
Noting Vietnam has made a strong commitment to the goal of net zero emissions by 2050, the deputy minister emphasised that pursuing such development path requires huge financial resources and needs the support of the international community.
According to the World Bank’s Country Climate and Development Report for 2022, Vietnam will need an additional investments of about 254 billion USD for green growth and climate change, and 114 billion USD for decarbonisation in such major emission sectors as energy, transport, agriculture and industry. This estimated data showed Vietnam urgently needs international support.
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| MPI Deputy Minister Nguyen Thi Bich Ngoc, GGGI President Ban Ki-moon, GGGI Director General Frank Rijsberman (left to right). Photo: MPI |
In addition to attending the council’s meetings, Deputy Minister Ngoc had dialogues and discussed cooperation and strategy with GGGI President Ban Ki-moon, GGGI Director General Frank Rijsberman. She also attended the Ministerial Panel Session with representatives from Kyrgyzstan, Rwanda, Uganda, Zambia, Laos and Cambodia.
Both GGGI leaders affirmed their willingness to coordinate sustainably with Vietnam in the spirit of green and sustainable economic development, increasing resilience to external shocks, and opening up new opportunities to benefit the Vietnamese people.
The working visit to the RoK has helped strengthen the partnership between Vietnam and the GGGI in order to promote joint activities serving green growth in Vietnam, particularly plans to be implemented in the near future, including: promoting innovative start-ups in green growth; green transformation investment; and ASEAN-RoK cooperation on methane reduction./.
| Established in 2012, the GGGI is a treaty-based international, inter-governmental organization dedicated to supporting and promoting strong, inclusive and sustainable economic growth in developing countries and emerging economies. The MPI and the GGGI also signed a Memorandum of Understanding (MOU) in 2012 foster cooperation on green growth, with the sides’ cooperation activities beginning in 2013.
The GGGI and Vietnam have implemented cooperative projects in five major areas: green growth activities; policy analysis according to the Designing Policy Approaches under Article 6 of the Paris Agreement DAPA project; green bond programmes; Forest Finance and Investment Incubator (FFII); and Green Growth Action Plan for Vietnam’s Agriculture. |
Ministry of Planning and Investmen