Themed “Encouraging Investment, Business, and Promoting Entrepreneurship in the Field of Green Transition and Sustainable Development,” the event was organized by the Vietnamese Ministry of Science and Technology.
Addressing the event, Robyn McGuckin, Executive Director for P4G, stated that since its establishment in 2018, P4G has supported early-stage startups, especially in developing countries. In addition to providing technical assistance and funding, it also connects businesses with public-private partnership mechanisms to help them overcome barriers related to funding, policies, and human resources.
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The logo of the fourth Partnership for Green Growth and the Global Goals 2030 (P4G) Summit. |
For Vietnam, Robyn stated that since 2018, P4G has assisted around 20 startups, particularly in energy and water, with a focus on innovative technological solutions, especially climate-smart solutions. These efforts contribute to addressing challenges related to clean electricity, smart electricity, solar power, and rooftop solar energy.
She affirmed that Vietnam has a lot of advantages in developing technology and climate action, and P4G fully supports the country's green growth solutions in sectors such as economy, society, healthcare, and environment.
Connecting Vietnam-Denmark SMEs, startups
Finn Mortensen, Executive Director of Denmark’s State of Green organization, stressed the need to focus on small- and medium-sized enterprises (SMEs) so that they can engage in global partnerships, thereby enhancing the ecosystem and achieving a leading position in the field of green growth.
Assessing that Vietnam's entrepreneurship and innovation spirit is very strong and could inspire Danish people, he expressed his willingness to share experiences as well as public-private partnership programs with Vietnam.
He proposed the two countries strengthen cooperation, especially in the green sector, adding that Denmark looks forward to connecting SMEs and startups from both countries in the coming time.
Growth accompanied by responsibility
According to Pham Hong Quat, Director of the National Agency for Technology Entrepreneurship and Commercialization Development under the Ministry of Science and Technology, in the field of green transition, startups in Vietnam are making significant strides in developing green technology solutions to contribute to environmental protection and promote sustainable development.
Noting some barriers faced by green transition startups, Quat said that one of the major challenges lies with funding, as green models typically require large initial investment and long payback periods.
Additionally, while the Vietnamese Government has implemented several policies to support businesses in green transition, specific regulations for startups are still not clear and robust enough. The country also needs a workforce with deep knowledge in areas such as circular economy, carbon management, or bio-material production technologies.
Regarding market awareness, he noted that while consumers are becoming more conscious of eco-friendly products, barriers remain in terms of price and consumption habits.
To address these challenges, the official proposed conducting surveys and building a map of the green innovation startup ecosystem in Vietnam. He also suggested developing a specific framework of socioeconomic-environmental impact indicators for green tech startups, and supporting universities and research institutes to collaborate with businesses in developing new green technologies.
Quat also called for intensified campaigns promoting green consumption to change consumer habits and encourage the use of eco-friendly products.
The world is witnessing profound changes in socioeconomic development, where the goal of growth is no longer just about numbers, but must go hand in hand with responsibility for the environment and future generations. In this context, startups in the field of green transition are one of the key drivers to realize Vietnam's commitment to achieving net zero by 2050, he stressed.
Source: VNA