Vietnam’s green economy expected to reach 300 billion USD by 2050
Vietnam has set a target of increasing its green economy'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 Investment Nguyen Chi Dung has said.
Hanoi (VNA)ᩚᩚᩚᩚᩚᩚᩚᩚᩚ𒀱ᩚᩚᩚ –Vietnam has set a target of increasing its green economy's contribution to GDP from 6.7 billion USD in2020 to 300 billion USD by 2050, which requires drastic and breakthrough steps,Minister of Planning and Investment Nguyen Chi Dung has said.
Speaking at a conference“Promoting green growth in Vietnam: Roadmap to Success” held in Hanoi on April18, green growth is increasingly becoming the top priority of economies in theworld’s complex, unpredictable fluctuations and intertwined challenges. For Vietnam, greengrowth towards economic prosperity, environmental sustainability, and socialjustice is not only an inevitable choice but also an opportunity to become apioneer in the region. It also helps Vietnam tocatch up with the world’s development trend and realise its landmark historiccommitment to achieve net-zero emissions by 2050. The ministry as thenational coordinator for green growth, advised the Prime Minister to issue theNational Strategy on Green Growth in the 2021-2030 period, with a vision to2050 and the National Action Plan on Green Growth for the period of 2021-2030. Vietnam identifies greengrowth as a long-term option to ensure balance and harmonise the goal ofreducing total greenhouse gas emissions and the development and the growing size ofits economy, Dung said. Preliminary researchresults of Boston Consulting Group (BCG) showed that to accelerate green growth,the transition of the wind and solar power industries alone can contribute70-80 billion USD to GDP and directly create about 90,000-105,000 jobs. In addition, the cleanhydrogen ecosystem based on renewable energy has the potential to contributefrom 40-45 billion USD to GDP annually, create about 40,000-50,000 jobs, andbenefit both the domestic market and export potential to developed countries inthe world.
Overview of the conference. (Photo: VNA)
At the conference, BCGGeneral Director Jaime Ruiz-Cabrero put forth four key recommendations for Vietnam, including the need to perfect the green strategic institutions and step up the buildingof the legal framework; strengthening the construction of a stable greenfinancial system, helping to reduce investment capital costs; develop the gridinfrastructure system, create a foundation for the development of clean andrenewable energy sources; and accelerate the development of clean hydrogenecosystems. BCG’s research resultsalso showed that Vietnam, with its potential and geo-economic position in theglobal supply chain, is boasting a great opportunity to transform, catch up, andtake shortcuts and be ready for a leap in economic, social, and environmentaldevelopment./.
Vietnam boasts substantial potential for wind power, particularly offshore wind power, providing an opportunity for the country to fulfill its energy transition target towards green growth, heard a conference held by the Global Wind Energy Council (GWEC) in Hanoi on December 1.
Vietnamese Ambassador to the UK Nguyen Hoang Long made a working visit to the University of Cambridge on February 13 aiming to promote Vietnam's cooperation with the world’s leading university, especially in the fields of scientific and technological research, and green and sustainable growth.
The 2023 Vietnam Business Forum (VBF) opened in Hanoi on March 17 under the theme of “Business Community in Partnership with Government of Vietnam in Fostering Green Growth”.
Vietnam is determined to pursue rapid and sustainable economic growth combined with environmental protection to progress to prosperity. To reach that goal, green growth is the inevitable choice.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Illustrative photo (Photo: congthuong.vn)
Overview of the conference. (Photo: VNA) 
