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Official Gazette

Saturday, February 4, 2023

New green growth strategy adopted to build a green economy

Updated: 09:00’ - 16/11/2021
The nation determines to slash greenhouse gas emission by at least 15 percent by 2030 against the level recorded in 2014; and 30 percent by 2050.

Such is provided under Prime Minister Decision 1658/QD-TTg, approving the national strategy for green growth for the 2021-30 period, with a vision toward 2050.

The ultimate goal of the strategy is to accelerate the process of economic restructuring in association with growth model transformation in order to achieve economic prosperity, environmental sustainability, and social equality.

It also aims to build a green and carbon-neutral economy, contributing to slowing down the global warming.

Specifically, the strategy expects to reduce the primary energy consumption per average GDP by 1-1.5 percent per year, while the proportion of renewable energy in the total primary energy supply will reach 25-30 percent over the next decade.

By 2030, digital economy will account for 50 percent of GDP, the forest coverage rate will be kept at 42 percent, and at least 30 percent of the irrigated dry crop areas will apply advanced and water-saving irrigation methods.

To achieve the above goals, the Ministry of Planning and Investment is assigned to formulate and submit to the Prime Minister for promulgation the national plan of action on green growth for the 2021-30 period within six months after this strategy is approved.

Meanwhile, the Ministry of Finance will be responsible for developing and completing preferential financial policy tools as well as programs and solutions to promote capital markets and green insurance; using tax and charge instruments to regulate consumption behaviors which are harmful to people’s health, culture, and the environment.

Besides, other ministries and sectors will have to work out specific solutions to implement the strategy, focusing on improvement of mechanisms and policies before integrating them into green growth targets and solutions.- (VLLF)

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