Promoting green exports to meet new "rules of the game"

At the Vietnam Export Promotion Forum 2023 organized by the Ministry of Industry and Trade on November 24, Deputy Minister Do Thang Hai said that the issue of green development, green export, and sustainability is no longer a new topic. Currently, government agencies, public organizations, and the private sector around the world have paid great attention to issues related to the topic of green trade.

Green growth, green development, and circular economy have become global trends as a positive solution to reduce greenhouse gas emissions, enhance economic resilience and innovation, and aim for carbon neutrality and sustainable development.

This development trend has been forming new "rules of the game" in trade and investment.

Many developed economies in the world have set stricter environmental regulations on imported goods such as the European green growth policy, the European green deal along with program mechanisms such as the Carbon Border Adjustment Mechanism (CBAM); Farm to Fork Strategy; Circular Economy Action Plan or Biodiversity Strategy to 2030...

"In order not to be eliminated from the game by the high environmental and social standards set by import markets, exporting countries need to change their mindset, pay attention to the "greenness" of the supply chain, in international trade to meet the strict technical requirements of the market", the Deputy Minister emphasized and said that green and sustainable development is oriented as one of the important tasks in Vietnam's 10-year socio-economic development strategy 2021-2030; Import-export strategy of goods to 2030; National strategy on green growth for the period 2021-2030, vision to 2050 approved by the Prime Minister and issued on October 1, 2021 in Decision No. 1658/QD-TTg.

Recently, the Prime Minister issued Decision No. 843/QD-TTg of the Prime Minister promulgating the National Action Program to improve policies and laws to promote responsible business practices in Vietnam for the period 2023 - 2027.

Based on the results of the Green Export Promotion Forum in 2022, in recent times, the Ministry of Industry and Trade has been making efforts to orient and support businesses in transforming their growth models towards reducing carbon emissions, researching and issuing policies and mechanisms to support the implementation of solutions to apply clean technology, improve energy efficiency, cleaner production, and circular economy.

Recently, the Ministry of Industry and Trade issued Decision 980/QD-TTg dated August 22, 2023 promulgating the list of priority subjects for investment in technology products, equipment, and products of the environmental industry and Decision 500/QD-TTg dated May 15, 2023 approving the National Power Development Plan for the 2021-2030 period, with a vision to 2050, with the goal of promoting the development of renewable energy sources and sharply reducing coal-fired thermal power.

In addition, the Ministry of Industry and Trade regularly implements trade promotion activities such as organizing a series of monthly thematic conferences between the Ministry of Industry and Trade, localities, associations, enterprises and the system of Vietnamese trade offices abroad to exchange information, update the latest information on international regulations, policies and laws of importing countries, especially regulations on greenhouse gas emission reduction, policies and green product standards to help businesses improve awareness and capacity in the process of development and production and business in accordance with international practices and legal regulations, meeting the regulations of importing countries and the requirements of international buyers.

Deputy Minister Do Thang Hai expressed his wish to receive recommendations on policy development to promote green exports, solutions for associations and enterprises to promote green transformation in production and export, solutions on promoting green exports...

From there, there is an assessment, analysis and development of a plan to support businesses in effective trade promotion activities, orienting industry associations and businesses in implementing trade promotion activities suitable to the new context.

At the Forum, speakers shared about the transformation trends in international trade. Direct impacts on exports in the context of CBAM implementation; circular economy and enterprise appraisal in the value chain - important policies of the EU, Germany and proposed support activities for Vietnam's export industries; the role and responsibility of TPOs, BSOs in promoting Green exports; green transformation in the Vietnam Export Promotion ecosystem...

Green production, green export, green growth are economic development issues of the times, frequently mentioned in recent times. The information exchanged at the Forum is not only useful for Vietnamese enterprises to build and develop production and business strategies to meet market requirements and trends, but also suggests many directions and solutions for central and local state management agencies, industry associations in promoting carbon neutral initiatives, circular economy, improving the ability to provide support activities for the business community towards the sustainability of the supply chain in the coming time. The highest is to move towards successfully implementing the goals set out in the National Strategy on Green Growth for the period 2021-2030, with a vision to 2050.

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