Seeking solution for econ restructuring and green growth

16:26 | 26/10/2014

VGP – The Viet Nam Economic Forum 2014 was held on October 24 in Ha Noi in a bid to seek ways to ensure economic restructuring and green growth. 

Addressing the event, Deputy Minister of Planning and Investment Dang Huy Dong said that the country has to pay an extremely high cost if economic growth is not combined with green growth.

 Green growth must be taken into consideration in Viet Nam or else the restructuring process is just a temporary work in five to ten years,” said Mr. Dong.

The Deputy Minister urged delegates to have in-depth discussions on policies, national vision, economic restructuring, development of social capital and social values, economic issues so that sustainable development would be achieved.

According to Dr. Tran Dinh Thien, despite numerous efforts and expectations, industrial and coastal economic zones have not brought about breakthroughs due to scattered investment.

Viet Nam has created preferential mechanisms by reducing some tax and fee percentages but strategic investors with high capacity of green growth need improved institutions and technical infrastructure, he said, adding that we must build nets for phoenix.

Speaking at the event, Deputy Director of the Central Institute of Economic Management (CIEM) Nguyen Thi Tue Anh pointed out challenges for green growth in Viet Nam that include the lack of long-term development priorities and ineffective operation ò the national energy market.

Especially, the FDI sector has contributed significantly to growth, investment and export but their interaction with the domestic sector, especially in terms of high-tech transfer remains modest.

To ensure green growth, it is necessary to accelerate the restructuring of the economy, focus on energy-saving measures, and improve inter-ministerial coordination and awareness, she said.

Deeply aware of green growth, the Government adopted a national action plan for 2014-2020 period, figuring out a package of solutions, including institutional improvement, sectoral structure shift, technological innovation.

However, green growth is not an easy task for the country due to limited financial resources among other difficulties./.

By Kim Loan