(MPI) - Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc chaired a ceremony in Hanoi on December 6 announcing the Country Planning Framework (CPF) between Vietnam and the Global Green Growth Institute (GGGI) for the 2024-2028 period.

Announcing of the Vietnam-Global Green Growth Institute Country Planning Framework (CPF) for the 2024-2028 period. Photo: MPI

The ceremony drew the attention of Juhern Kim,  GGGI Country Representative to Vietnam, representatives of the South Korean Embassy in Vietnam and relevant agencies, ministries and sector of Vietnam.

The CPF was developed to strengthen the cooperation between Vietnam and GGGI in the next five years, supporting Vietnam's green growth and climate action goals, including achieving the net-zero emissions target by 2050.

Deputy Minister Nguyen Thi Bich Ngoc stated that the cooperation between Vietnam and GGGI began in 2012, when Vietnam ratified the Establishment Agreement and became one of GGGI’s founding members.

The partnership continued with the signing of national planning frameworks between the MPI and GGGI for the 2012-2016 and 2016-2020 periods.

The national planning framework for 2016-2020 achieved significant results, including the development of green investment guidelines, integration of green growth indicators into socio-economic development plans, training for officials in central and local agencies, an evaluation of the 5-year implementation of the national green growth strategy, and organising consultation workshops and building training materials to support the planning on green growth action plans, greenhouse gas inventory, and green finance.

The 2020-2024 national framework plan also marked further cooperation in key projects, including designing policies for international carbon trading under Article 6 of the Paris Agreement, developing green growth plans for provinces, and implementing green transition investment programs.

In the 2024-2028 period, GGGI will continue to support Vietnam in attracting green investments, implementing sustainable energy and climate-adaptive agriculture projects, waste management, and expanding green bond initiatives. The focus will be on promoting climate technology start-ups, enhancing climate finance to achieve national green growth and Nationally Determined Contribution (NDC) goals, improving access to capital for renewable energy projects, developing energy-saving technologies, fostering agricultural innovation, and establishing a domestic carbon market.

Juhern Kim, GGGI Country Representative in Vietnam expressed his honor to support Vietnam by promoting green investment mobilization, providing policy advice, and fostering a green innovation ecosystem to empower climate technology start-ups and small- and medium-sized enterprises operating in Vietnam.

The partnership between the GGGI and Vietnam has delivered significant policy advisory results, such as developing the green growth investment guidelines for the MPI, the green growth urban index, and the urban green growth development plan to 2030.

GGGI will support the Vietnamese Government in the next five years in creating an enabling environment to attract green investments and prepare projects to directly mobilize investment flows into sustainable energy, energy efficiency, climate-adaptive agriculture, and waste management.

GGGI will prioritize clean energy to help Vietnam achieve the net-zero emissions target by 2050, continue to expand successful projects on green bonds and promote climate technology start-ups to enhance climate finance mobilization from the private sector to public-private partnerships.

According to him, the CPF proposes solutions for implementing the CPF, including green investment, green industries, climate-adaptive agriculture, waste management, green buildings, and carbon pricing./.

Bao Linh

Ministry of Planning and Investment