Hanoi (VNA) - The corporate sector, including both FDI and domesticenterprises, has invested about 9 billion USD in fields related to green growthand green development, an official said at a workshop named “FDI Enterprisesin Vietnam’s Green Growth” held on April 27.

Nguyen Anh Tuan, Deputy Director of the Ministry of Planningand Investment’s Foreign Investment Agency said that green growth andsustainable development are an indispensable requirement and common trendthat every country in the world wants to achieve.

The Vietnamese Prime Minister made strong commitmentsat the 26th United Nations Climate Change Conference (COP26),affirming the country's desire to achieve economic prosperity, environmentalsustainability, and social justice.

Vietnam has also exerted efforts to implement its greengrowth target to not only contribute to solving global problems but alsocontinue to affirm its position and role as a responsible member for global issues,stated Tuan.

To achieve the green growth goal, it requires mobilising thefull strength of both the political system as well as the business community,including FDI enterprises.

According to Tuan, foreign-invested firms play a veryimportant role in economic recovery and growth, and realising inclusivesustainable development, including green growth.

They not only help create a change in perception, createresources and experience for management, and modern technology and equipment torealise the green growth goal in production; but also cooperate with domestic onesto contribute to this common green growth cause, he added.

Also affirming the important role of enterprises inimplementing green growth strategy and the national strategy on climate changeresponse and sustainable development, Nguyen Quang Vinh, Vice Chairman of theVietnam Chamber of Commerce and Industry (VCCI) said that in order to achievethe goal of net zero emissions by 2050, it is necessary to focus on science andtechnology.

Vinh stressed the need to "require" the highesttechnology from foreign businesses so that when they invest in Vietnam, theywill have a basis to invest in the most advanced science and technology toreduce greenhouse gas emissions.

He quoted statistics from the Vietnam Business Council forSustainable Development as saying that each year, the circular economygenerates about 4-5 trillion USD and creates a lot of new jobs through newbusiness models.

Therefore, it is necessary to seek ways for both domestic-and foreign-invested firms to seize opportunities brought by those new models of the circulareconomy./.