Ngoc made the speech at the GGGI Council’s plenary session at its headquarters in Seoul, the Republic of Korea, on October 27. The session was co-chaired by former U.N. Secretary-General and GGGI President Ban Ki-moon and GGGI Executive Director Frank Rijsberman, with the attendance of representatives from 45 member countries and observers.

Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc

On behalf of the Vietnamese Government, Ngoc informed that through its representative office in Vietnam, the institute is working with the Ministry of Planning and Investment to develop a number of green transformation projects to help Vietnam achieve its climate goals.

Noting Vietnam has made a strong commitment to the goal of net zero emissions by 2050, the official emphasized that pursuing such development path requires huge financial resources and needs the support of the international community.

According to the World Bank's Country Climate and Development Report for 2022, Vietnam will need an additional investments of about USD 254 billion for green growth and climate change and USD 114 billion for decarburization in such major emission sectors as energy, transport, agriculture and industry.

In addition to attending the council's meetings and the Green Growth Week organized by the GGGI, Ngoc had dialogues and discussed cooperation and strategy with Ban and Rijsberman. Both GGGI leaders affirmed their willingness to cooperate sustainably with Vietnam in the spirit of green and sustainable economic development, increasing resilience to external shocks, and bringing about new opportunities to benefit the Vietnamese people.

The deputy minister also attended a ministerial panel discussion with representatives from Kyrgyzstan, Rwanda, Uganda, Zambia, Laos and Cambodia.

According to the official, the working visit to the Republic of Korea has helped strengthen the partnership between Vietnam and the GGGI in order to promote joint activities serving green growth in Vietnam, especially in plans to be implemented in the near future. The plans include those on promoting innovative start-ups in the field; green transformation investment; and ASEAN-RoK cooperation on methane reduction.

Established in 2012, the GGGI is a treaty-based inter-governmental organization dedicated to supporting and promoting strong, inclusive and sustainable economic growth in developing countries and emerging economies. Vietnam was one of the founding members that officially joined in 2012, with the sides’ cooperation activities beginning in 2013.

Source: VNA