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Vietnam’s inexperienced financial system anticipated to achieve 300 billion USD by 2050 | Enterprise

Hanoi (VNA)
Vietnam has set a goal of accelerating its inexperienced financial system’s contribution to GDP from 6.7 billion USD in
2020 to 300 billion USD by 2050, which requires drastic and breakthrough steps,
Minister of Planning and Funding Nguyen Chi Dung has mentioned.

Talking at a convention
“Selling inexperienced development in Vietnam: Roadmap to Success” held in Hanoi on April
18, inexperienced development is more and more changing into the highest precedence of economies within the
world’s complicated, unpredictable fluctuations and intertwined challenges.

For Vietnam, inexperienced
development in the direction of financial prosperity, environmental sustainability, and social
justice is just not solely an inevitable alternative but in addition a possibility to develop into a
pioneer within the area.

It additionally helps Vietnam to
meet up with the world’s growth pattern and realise its landmark historic
dedication to attain net-zero emissions by 2050.

The ministry because the
nationwide coordinator for inexperienced development, suggested the Prime Minister to subject the
Nationwide Technique on Inexperienced Progress within the 2021-2030 interval, with a imaginative and prescient to
2050 and the Nationwide Motion Plan on Inexperienced Progress for the interval of 2021-2030.

Vietnam identifies inexperienced
development as a long-term choice to make sure steadiness and harmonise the objective of
lowering whole greenhouse gasoline emissions and the event and the rising dimension of
its financial system, Dung mentioned.

Preliminary analysis
outcomes of Boston Consulting Group (BCG) confirmed that to speed up inexperienced development,
the transition of the wind and solar energy industries alone can contribute
70-80 billion USD to GDP and instantly create about 90,000-105,000 jobs.

As well as, the clear
hydrogen ecosystem based mostly on renewable vitality has the potential to contribute
from 40-45 billion USD to GDP yearly, create about 40,000-50,000 jobs, and
profit each the home market and export potential to developed international locations in
the world.

Vietnam’s green economy expected to reach 300 billion USD by 2050 hinh anh 2Overview of the convention. (Picture: VNA)

On the convention, BCG
Common Director Jaime Ruiz-Cabrero put forth 4 key suggestions for Vietnam, together with the necessity to excellent the inexperienced strategic establishments and step up the constructing
of the authorized framework; strengthening the development of a steady inexperienced
monetary system, serving to to scale back funding capital prices; develop the grid
infrastructure system, create a basis for the event of unpolluted and
renewable vitality sources; and speed up the event of unpolluted hydrogen

BCG’s analysis outcomes
additionally confirmed that Vietnam, with its potential and geo-economic place within the
world provide chain, is boasting a terrific alternative to remodel, catch up, and
take shortcuts and be prepared for a leap in financial, social, and environmental

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