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Shifting Mindsets in Green Production

(News Portal – Dong Nai) - To adapt to stringent requirements regarding green and sustainable criteria in economic development cooperation, Vietnam is accelerating solutions to reduce carbon emissions in production and trade. 

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Production plant with modern technology lines of Nestlé Group. 

According to experts from European enterprises, capturing and reusing carbon requires a significant investment. To address cost challenges, businesses need support from the government or investment funds for such projects. Despite these difficulties, the green and sustainable transition has become an increasingly significant wave, compelling businesses to ride the wave and reach the shore as soon as possible.

Mr. Arnaud Ginolin, Managing Director of Boston Consulting Group (BCG), stated that businesses adhering to Net Zero criteria early will have greater opportunities to expand into European markets. According to Mr. Ginolin, most businesses and authorities aim to achieve Net Zero. However, to accomplish this, businesses must focus on specific sectors. For instance, garment, footwear, and export-oriented enterprises targeting the European market should prioritize green transformation. Subsequently, domestic manufacturers and those in Southeast Asia should shift to Net Zero.

In the green and sustainable transition, economic experts emphasize that businesses and individuals, in addition to using solar energy, should focus on infrastructure. Experts suggest that Vietnamese enterprises learn from European countries. Sharing experiences in building Net Zero criteria at production plants, a representative from LEGO Group of Denmark stated that when investing in Viet Nam, LEGO aimed to construct a factory capable of meeting sustainability goals and producing toys for children worldwide. Despite already having a factory in China, LEGO decided to invest in Vietnam and use renewable energy in production. However, to establish such a facility, LEGO had to address financial challenges while leveraging support from the Vietnamese government to develop a factory powered by renewable and green energy. Moreover, LEGO expressed its intention to integrate surplus renewable energy into the national energy system in the future.

Mr. Arnaud Ginolin, Managing Director of BCG, emphasized the importance of government support policies, followed by funding and sponsorship sources. According to Mr. Ginolin, while it is impossible to fund every project, standout enterprises can be prioritized. Additionally, training leaders to operate zero-emission factories is crucial. Therefore, appropriate policies and legal support are essential for green projects.

For Professor Alessio Tei of the University of Genoa, the fundamental issue is that businesses must collaborate with various sectors and governments to understand how to achieve Net Zero. At the same time, partnerships with local universities can help train students to build a skilled workforce.

Discussing cooperation with European countries, Deputy Prime Minister Bui Thanh Son outlined several key areas for implementation in the near future. These include deepening bilateral relations, with economic development—particularly green economy—being a focal point of cooperation. Enterprises should also explore and implement lighthouse cooperation projects to promote public-private partnerships and multi-party collaboration for green transformation, leveraging the comparative advantages of each party. Vietnam hopes to continue receiving valuable support from the EU in terms of finance, technology, and workforce training. The Deputy Prime Minister also urged EU members to share their experiences in developing carbon credit markets connected to international markets and to implement green hydrogen projects.

Additionally, businesses should enhance collaboration in research and development. European enterprises are encouraged to invest in and establish research centers in Vietnam for emerging fields such as renewable energy, green hydrogen, green infrastructure, digital transformation, smart agriculture, and low-emission industries.

At the 2024 Green Economy Forum, Deputy Prime Minister Bui Thanh Son requested the EU to continue providing ODA for Vietnam, focusing on urgent areas such as enhancing public governance capacity, green economy, digital economy, and circular economy. Furthermore, the parties should strengthen dialogue and mutual support in multilateral mechanisms concerning green growth, energy transition, and other strategic fields. ​

Author: Nam Huu

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