Hanoi (VNA) – As one of the countries heavily affected by the COVID-19 pandemic, Vietnamis determined to pursue green and inclusive recovery, Deputy Prime Minister PhamBinh Minh said at the International Conference “Green and Inclusive EconomicRebound: Lessons from International Experience” in Hanoi on February 25.

According to theDeputy PM, Vietnam has issued a programme on socio-economic recovery anddevelopment to further support businesses and people, and speed upsocio-economic recovery.

The programme setsout major solutions such as economic reopening in combination with investmentin health care, ensuring social welfare, support to enterprises, cooperativesand household businesses in recovery, infrastructure development andadministrative reform.

Along with theprogramme, the country has updated and rolled out many socio-economicdevelopment strategies, programmes and plans, notably the 2021-2030socio-economic development strategy and another on green growth for the period.

The Vietnamesegovernment has also actively implemented major orientations on green, circular economy,while making efforts to fulfill its commitments to climate change response,especially the target of net-zero emissions by 2050 presented by Prime MinisterPham Minh Chinh at the 26th United NationsClimate Change Conference of the Parties (COP26) last year.

He underlined that serious threats from non-traditional securitychallenges require countries to re-evaluate, develop and implement policies andmeasures to innovate growth models, promote green and circular economies, strengtheninternational economic cooperation and linkage, digital transformation for amore inclusive and sustainable recovery.

“The biggest question to the Vietnamese Government after the COVID-19pandemic lies with not only recovery but how to recover,” Minh said.

With the strong commitments at the COP26, the answer for the Vietnamese Governmentis quite clear that is green and inclusive recovery, he stressed.

He noted that it will be a profound transition process that requires Vietnam tofocus on consolidating institutions and policies, adjusting economic structuresas well as relevant national targets and strategies towards green, low-carbon growthand resilience to adverse impacts of climate change and external shocks.

Highlighting difficulties and challenges faced by Vietnam in thetransition process, the Deputy PM wished leaders and experts at home and abroad wouldshare experience in green and inclusive recovery, propose overall solutionssuitable to Vietnam's circumstances, conditions and priorities, therebysupporting the country to effectively implement the socio-economic developmentand recovery programme, the 2030 Agenda for Sustainable Development, the ParisAgreement on Climate Change and Vietnam’s commitments at COP26.

For his part, Deputy Foreign Minister Pham Quang Hieu held that the presenteconomy recovery would offer an opportunity for Vietnam to shift towards green,circular economy in line with major orientations set at the 13th NationalParty Congress.

The foreign ministry will work as an advisor for the Government to keep updated on the world’s major trends of digital transformation and greendevelopment, he said, adding that the ministry has also closely coordinatedwith other ministries, agencies and localities to mobilise financial andtechnological support from partners to help Vietnam improve itsclimate change adaptation capacity, and reduce greenhouse gas emissions.

In his remarks, UNDP Administrator Achim Steiner commended Vietnam for impressiveachievements in poverty reduction, human development, and universal adultvaccination.

He said Vietnam’s commitments made at the COP26 mirror Vietnam’s resolveto implement climate change measures.

Steine affirmed that a green and inclusive rebound is possible ifefforts are made to transcend the logic of trade-offs of economy versusenvironment and focus instead on the synergies from economic development thatprioritises sustainability and inclusivity.  

He highlighted six lessons from UNDP’s global efforts to support countriesin driving a green circular economic rebound, including innovative long-termfinancing; just climate transition; bridging the digital divide; genderequality; triple-a governance (anticipatory, agile, and adaptive); andshock-resilient social protection.

Speaking at the conference, ProfessorJoseph E. Stiglitz, theNobel Memorial Prize economist, suggested Vietnam maintain the green growthpace towards sustainability and inclusiveness, with attention paid to dealingwith inequality.

With its political stability, Vietnam should attract different capitalsources, including the private sector, he said.

The conference was co-hosted by the Vietnamese Government and the UNDevelopment Programme. It brought together about 500 delegates, including foreignleaders, representatives from international organisations, and prestigiousexperts and scholars at home and abroad.

The conference is timely as Vietnam stands at a critical juncture as itseeks to rebound from COVID-19 in ways that generate growth, are job-rich,sustainable, and inclusive. It provided a platform for policy makers and otherstakeholders to share visions, knowledge and best practices relating to greeneconomic stimulus, COVID-19 economic recovery, climate action, circulareconomy, anticipatory and inclusive governance and green finance andinvestment./.