Welcoming the GGGI’s goal to mobilise an additional US$1 billion in green financing for Vietnam for the 2024-2028 period, PM Pham Minh Chinh highlighted Vietnam's commitment to accelerating energy transition, green growth, and sustainable development, seeing them as key drivers for the nation's growth in the new era.
Prime Minister Pham Minh Chinh urged the Global Green Growth Institute (GGGI) to enhance cooperation initiatives in Vietnam’s push towards sustainable development while hosting a reception in Hanoi on April 17 for its Director-General Sang-Hyup Kim, who is in Vietnam to attend the 4th Partnership for Green Growth and the Global Goals 2030 (P4G) Summit.
Welcoming the GGGI’s goal to mobilise an additional $1 billion in green financing for Vietnam for the 2024-2028 period, PM Chinh highlighted Vietnam's commitment to accelerating energy transition, green growth, and sustainable development, seeing them as key drivers for the nation's growth in the new era.
The Vietnamese leader expressed his appreciation for the institute’s contributions to global sustainability efforts and its practical cooperation with various Vietnamese ministries, agencies and localities in the area, particularly its role in mobilising financial resources for green projects in Vietnam.
He requested the GGGI to support Vietnam in policy consultancy and consultation, legal framework development, green capital mobilisation, technology research and transfer, human resources training, and building a comprehensive green ecosystem, adding they will help Vietnam promote comprehensive, sustainable and inclusive green growth, contributing to the country’s socio-economic development.
PM Chinh also urged the GGGI to provide funding for both public sector and public-private partnership projects, enhance connections with credit organisations and financial institutions to secure green growth capital, and advise on the implementation of green projects to effectively utilise the targeted US$1 billion investment.
Kim, for his part, praised Vietnam as a founding member and one of the GGGI's strongest partners, emphasising that the country has the potential to become a core member of the organisation.
He noted that the GGGI has already helped mobilise over US$300 million for green investments in Vietnam and is working towards the $1 billion target by 2028. Besides, he identified significant opportunities for expanded cooperation, particularly in connecting financial institutions to mobilise green finance, issuing green bonds, supporting startups, and establishing innovation centres to facilitate Vietnam’s green transition.
Kim took this occasion to thank PM Chinh for backing an agreement between the Vietnamese Government and the GGGI, commending Vietnam's strategic mindset and strong leadership in green transition, digital transformation, and AI development.
The official also pledged to continue substantive activities to support Vietnam's green development path and strengthen cooperation between Vietnam and and the Republic of Korea (RoK) in such domains as green transition, information technology, agriculture, and energy.
The GGGI began as a research institution in the RoK before becoming an international organisation in 2012 through a multilateral agreement at the UN Conference on Sustainable Development in Brazil (Rio+20). Vietnam ratified the document on the establishment of the GGGI in late 2012.
