Danish businesses accompany Vietnam in green transformation

On October 30, in Ho Chi Minh City, the Embassy of Denmark in Vietnam in collaboration with LTP - Asia Group held the inauguration ceremony of the project to upgrade the LTP textile factory with a modern solar power system.

The inauguration ceremony is a concrete demonstration of the growing Green Strategic Partnership between Vietnam and Denmark. (Source: Embassy of Denmark in Vietnam)

This event not only marks an important step forward in LTP's journey towards green and sustainable production, but also concrete evidence of the increasingly growing Green Strategic Partnership between Vietnam and Denmark.

Over the years, Vietnam and Denmark have built a close partnership based on shared goals of sustainable development, innovation and inclusive growth. At the heart of this bilateral cooperation is the Green Strategic Partnership, which aims to connect government-to -government cooperation with the active participation of the private sector to accelerate the green transition in Vietnam.

From clean energy, healthcare, food safety to education , the Green Strategic Partnership has played an integral role in supporting Vietnam in achieving its national development goals and realizing its vision of sustainable development.

Green trade and investment are the two main pillars of this Green Strategic Partnership. There are now more than 150 Danish companies operating in Vietnam, bringing world-leading green technologies, sustainable business models and expertise to support Vietnam’s transition to a low-emission economy .

In particular, LTP's investment project in solar energy is a typical example of the practical contribution of Danish enterprises with the goal of not only helping to minimize environmental impact but also promoting innovation and enhancing long-term competitiveness.

By combining business growth with green solutions, LTP proves that it is possible for businesses to achieve business success while protecting the environment. LTP's solar power system will meet approximately 35.8% of the factory's electricity needs, while helping to reduce nearly 482 tons of _CO2 emissions per year.

Since establishing diplomatic relations in 1971, Vietnam and Denmark have maintained a deep, comprehensive and increasingly growing cooperative relationship.

On November 1, 2023, the Prime Ministers of the two countries jointly announced the establishment of the Green Strategic Partnership (GSP) between Vietnam and Denmark. This is considered an important milestone in the bilateral cooperation process, laying a solid foundation to support Vietnam in developing a low-emission economy, adapting to climate change and promoting a circular economy.

The Green Strategic Partnership (GSP) is built and developed on the existing cooperation foundation between the two countries in the fields of: Climate, environment and energy; food and agriculture; trade and business cooperation; health and life sciences; statistics and other initiatives for common interests.

Danish Ambassador to Vietnam Nicolai Prytz speaks at the ceremony. (Source: Embassy of Denmark in Vietnam)

Speaking at the ceremony, Danish Ambassador to Vietnam Nicolai Prytz shared that switching to green energy and sustainable production is not only inevitable, but also a competitive advantage for Vietnam in the global economy.

“We are proud to see Danish companies like LEGO, Pandora, and today LTP, leading the way in demonstrating that social responsibility and business success can go hand in hand. LTP’s solar factory is a great example of how businesses produce and develop sustainably, and demonstrates the close cooperation between our two countries,” the Ambassador said.

Mr. Lars Mehli Overgaard, General Director of LTP Group - Asia, spoke at the event. (Source: Embassy of Denmark in Vietnam)

In addition, Mr. Lars Mehli Overgaard, General Director of LTP Group Asia expressed: “By investing in a more sustainable garment production model, we once again affirm our commitment to putting people and the environment at the center, building trust through responsible actions and constantly innovating for perfection. We are extremely grateful for the companionship of local authorities and long-term partners in Vietnam and Denmark, who have joined us in realizing this development journey.”

As the world faces increasingly complex challenges from climate change, the Vietnam-Denmark Green Strategic Partnership continues to be a model that shows how international cooperation can drive real change.

LTP’s renewable energy plant in Vietnam affirms the pioneering role of the private sector in promoting economic and environmental benefits, and demonstrates that green transformation is entirely possible when the government, private enterprises and communities work together.

LTP Group Asia is part of the Denmark-based LTP Group, a global manufacturer of sports & outdoor apparel, as well as sustainable fashion & lifestyle. With nearly 40 years of experience in textile manufacturing, LTP expanded its operations to Vietnam in 2009 and now employs over 1,000 people and exports premium products to international markets.

LTP Vietnam is highly regarded for its outstanding sustainability performance, achieving an 89% Higg FEM score, holding ISO 9001 and ISO 14001 certifications from BSI Vietnam, and a B rating in social compliance. The company is also a member of the Fair Labor Association (FLA).

With continuous investments in green technology, digital transformation and automation, LTP is setting new standards for responsible manufacturing in the Asia region.

Source: https://baoquocte.vn/doanh-nghiep-dan-mach-dong-hanh-cung-viet-nam-trong-chuyen-doi-xanh-332752.html