The GEFE, which will run until November 30, aims to support Vietnam in achieving its COP26 commitments and its National Green Growth Strategy's socio-economic development goals.

Addressing the plenary session themed “Green Energy and Financing”, Prime Minister Pham Minh Chinh said that climate change and green development are key objectives for Vietnam – one of the five countries hardest hit by climate change, with the aim of bringing prosperity, well-being and happiness to the people.

Prime Minister Pham Minh Chinh speaks in a dialogue with leading European enterprises.

The PM called for global unity in combating climate change and promoting green development.

In addition, all policies must be people-oriented, and people must participate in policy making and enforcement, he stressed.

The Government leader told participants that Vietnam is promoting the ratification of an Investment Protection Agreement with the European Union to create favorable conditions for businesses of both sides to expand investment, and speeding up the establishment of the Just Energy Transition Partnership (JETP) between the Group of Seven and Vietnam on the basis of ensuring the harmony of interests, fairness and justice in the transition process.

The Vietnamese Government will continue improving the investment environment, reducing input costs for enterprises; encouraging the development of green economy, circular economy, energy transition, and digital transformation; promoting public-private cooperation, diversifying supply chains, products and markets; encouraging innovation; and ensuring political stability, social order and safety to facilitate socio-economic development, he stressed.

Investing in Vietnam is not only for economic benefits but also for the sake of human development, for the friendship between Vietnam and Europe; and helps Vietnamese enterprises develop on a par with European businesses, in the spirit of win-win cooperation, harmonized benefits, and shared risks, Prime Minister Pham Minh Chinh said.

An overview of the dialogue

Earlier the same day, Prime Minister Pham Minh Chinh received EuroCham Vietnam Chairman Alain Cany and leaders of leading European groups who are in Vietnam to attend GEFE 2022.

To implement its green economic development strategy, Vietnam needs the support of the international community in terms of capital, technology, human resources training, institutional building, and governance experience, Prime Minister Pham Minh Chinh said.

Therefore, he asked European businesses to continue expanding business cooperation on the basis of complying with the law and respecting the law of supply and demand.

Leaders of the European groups said that Vietnam has great potential for renewable energy, and they are willing to invest in Vietnam's wind energy sector.

The business leaders also said they will cooperate and help the country in green and sustainable development.

Source: VNA