Need to increase investment in green transport

By 2050, 100% of road motor vehicles, including personal vehicles, public transport vehicles, and specialized vehicles, will switch to using electricity and green energy...

Early Awareness

In a report published not long ago by the United Nations Environment Programme (UNEP), it was stated that the world continues to emit record amounts of greenhouse gases into the atmosphere. This increase is mainly due to the burning of fossil fuels and industrial activities. One of the sources of air pollution is emissions from the operation of vehicles using fossil fuels, so green transportation is considered one of the sustainable solutions with breakthrough efficiency to improve this situation.

Investing in green transportation is the solution for the near future.

In Vietnam, according to Decision No. 876/QD-TTg of the Prime Minister on the Green Energy Conversion Program, reducing carbon and methane emissions in the transport sector, the goal is that by 2040, Vietnam will gradually limit and eventually stop the production, assembly, and import of cars, motorbikes, and scooters using fossil fuels for domestic use. By 2050, 100% of road motor vehicles, including personal vehicles and public transport vehicles, and specialized vehicles, will switch to using electricity and green energy. Complete the charging infrastructure, provide green energy nationwide, and meet the needs of people and businesses.

Recognizing green transportation early, Son Ha Group built an EVGO electric vehicle manufacturing and assembly factory in Thuan Thanh II Industrial Park, Bac Ninh and officially put it into operation in October 2020. Mr. Hoang Manh Tan, Deputy General Director of Son Ha Group, assessed that the trend of switching from gasoline motorbikes to electric motorbikes is very strong in Vietnam. Although it has just entered the market, the group also aims to become one of the three largest electric vehicle manufacturers, assemblers and suppliers in Vietnam within the next 5-10 years, accounting for 10-20% of the domestic two-wheeled vehicle market share (about 300,000 - 600,000 vehicles/year), making electric vehicles familiar to the people.

Like other means of transport, the exploitation of seaports also has potential impacts on the environment, so the investment in "greening" seaports according to the model of balancing environmental fluctuations and economic development needs is being well received. In Vietnam, Tan Cang - Cat Lai port in Ho Chi Minh City has achieved the title of Green Port of the APEC Port Services Network Council. Accordingly, the port has replaced diesel lifting equipment with electric equipment (saving 1.5-2 million USD in fuel costs/year); increased water transport with a simultaneous capacity of 3,000 Teus (replacing about 2,000 container trucks); applied electronic documents to reduce the waiting time for vehicles at the port gate from 13 minutes to 6 minutes; eliminated about 30,000-50,000 paper documents at the port/day; planted trees along the wharf and traffic routes.

In addition, some localities have recently been making efforts to "green" transportation with many solutions. For example, Ho Chi Minh City has just announced a list of 28 projects calling for investment in the green growth program, in which more than VND97,000 billion is called for investment in transportation items. The city's Department of Transport said that the city's goal is not only to build a transportation system, but also to switch to electric vehicles and use green energy, in order to actively contribute to reducing carbon emissions, aiming for net greenhouse gas emissions to zero by 2050.

Solutions for green investment

However, Mr. Nguyen Hoang Hai, Director of the Hanoi Public Transport Management Center, said that public transport alone has many difficulties and challenges in "greening". Regarding suppliers, the market has not yet had access to many other sources of supply to create competition and more attractive price options for units to choose from, so the types of electric buses are not diverse; there are no national standards for electric buses, unit prices, or directions for future management.

Businesses in the transport sector are also eager to invest in green products to achieve environmental goals and improve competitiveness. However, complying with all green criteria is a challenge in implementation. Furthermore, Vietnam still lacks mechanisms, policies or financial support for the transition to green transport and businesses cannot estimate the cost of conversion.

Along with that, Mr. Nguyen Hoang Hai said that to have a green transportation system, not only vehicles, but also infrastructure must be synchronized, such as the charging system needs to be arranged appropriately and conveniently enough; especially the issue of maintenance and repair to serve the large number of vehicles as present and in the future.

In addition to infrastructure, Dr. Truong Minh Huy Vu, Deputy Director of the Ho Chi Minh City Institute for Development Studies, suggested that localities need to develop management mechanisms, enhance capacity, mobilize financial resources and a specific roadmap to implement green transport; there should be pilot projects, upgrade and improve the quality of vehicles using new fuel technology and ensure synchronization and integration with solutions to encourage the transition to sustainable means of transport. Localities can implement vehicle emission control zones, low emission zones, prioritize vehicles using green energy, and limit the operation of vehicles using fossil fuels.

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