Environmental protection quotes

Vinh Long (VNA) – The Vinh Long Provincial People’s Committee in the Mekong Delta has issued a plan to implement the national action programme on sustainable production and consumption for 2021-2030.

By 2030, 90 percent of industrial parks in the province are set to apply clean and environmentally-friendly technologies.

All supermarkets and shopping centres are to use eco-packaging instead of single-use plastics, and the use of slowly-degrading packaging at wet markets will be cut by 80 percent.

The province also hopes to have 100 percent of its enterprises joining production and distribution chains for safe farm produce and it also targets the widespread use of QR codes for product origin tracing.

Vice Chairman of the provincial People’s Committee Nguyen Van Liet said local authorities will assist businesses in boosting their production capacity and product quality, and in reducing costs to engage in a network of sustainable production and consumption.

The provincial Department of Science and Technology has been tasked with planning and launching programmes assisting companies and localities in the innovation process.

Priorities have been set for waste recycling, the sustainable use of natural resources and energy, and technological application in resources management, goods manufacturing, and consumer protection./.

VNA

The Hanoitimes – It is vital for Vietnam to further boost the development of private sector and public investment funds, in turn contributing to economic growth and creating the foundation for long-term development.

Vietnam would speed up socio-economic recovery to realize the growth target of 6.5% for this year.

Prime Minister Nguyen Xuan Phuc at the meeting. Photo: Quang Hieu

Prime Minister Nguyen Xuan Phuc stressed the view at a monthly government meeting on March 2, which were attended by government leaders and representatives of ministries and sectors.

Among measures to boost growth, the PM stressed the importance of enhancing greater efficiency in global integration to boost exports and attract high quality   foreign direct investment (FDI).

“The current situation presents huge opportunity for Vietnam to attract investment capital,” stressed Phuc, adding a favorable investment environment is a must to keep capital inflow from growing.

In addition to the role of state-owned corporations, Phuc said it is vital for Vietnam to further boost the development of private sector and public investment funds, in turn contributing to economic growth and creating the foundation for long-term development.

According to Phuc, disbursement of public funds is a major mission, for which the Government Office is tasked with inspecting efficiency in disbursing public funds and ODA-funded projects.

Phuc stressed the importance of reviewing current supporting programs and proposing new ones to assist businesses and people affected by the pandemic.

“Nurturing economic growth drivers and creating long-term revenue sources are the objective for monetary and fiscal policies,” said Phuc.

The PM requested major economic hubs to play a greater role in aiding economic growth, especially Hanoi, Ho Chi Minh City, Vung Tau, Danang, and Can Tho.

For economic sectors that are struggling with the Covid-19 impacts, including those in fields of aviation, services, and tourism, Phuc called for substantial measures to address their concern and difficulties.

Expansionary fiscal, monetary policies to boost growth

At the meeting, Minister of Planning and Investment Nguyen Chi Dung said Vietnam remains steadfast in pursuing expansionary fiscal and monetary policies to boost economic growth and control inflation rate.

Dung referred to a forecast that the Covid-19 pandemic would continue to exert its impacts on the global economy until at least the first half of 2021 or when Covid-19 vaccines are rolled out worldwide, as such, “keeping expansionary fiscal and monetary policies are necessary,” he added.

“It is important to enhance efficiency in the combination of fiscal and monetary policies to aid economic recovery and keep inflation under control,” Dung asserted.

“Government agencies and provinces/cities should closely monitor the market situation to timely propose supporting policies for people and businesses affected by the pandemic, especially for those operating in services, tourism and transportation sectors,” stressed Dung.

Meanwhile, the minister urged to stay alert against the Covid-19 pandemic as the country aims to ensure the realization of the dual target of both containing the pandemic and boosting economic recovery.

Amid the Covid-19 outbreak, Dung requested related agencies to soon issue a uniform safety procedure during the production and distribution of farm produce from Covid-19 zones to other localities.

While the world is still struggling with the Covid-19 impacts, “the domestic market remains a priority,” asserted Dung.

Dung also highlighted the importance of applying hi-tech and accelerating the digital transformation process and promoting e-commerce, in which local authorities should provide more support for enterprises to shift their operation online and apply e-payment methods.

“Vietnam would step up efforts in diversifying trade markets depending on the actual Covid-19 situation globally, while taking this opportunity to restructure the country’s export-import activities to reduce its reliance on a single market,” noted Dung.

With foreign direct investment (FDI) as a key source for economic growth, Dung called for a more selective approach in attracting such capital inflow, including a thoroughly review of M&A activities related to enterprises operating in national core and strategic business fields with high socio-economic impacts.

“The move is necessary to ensure favorable conditions for FDI attraction, protect domestic enterprises and prevent tax evasion through investment activities,” Dung concluded.

The Hanoitimes – The two sides consider inter-parliamentary cooperation an important component of the strategic partnership between the two countries.

The first Vietnam-Russia inter-parliament meeting has opened up new areas of cooperation that are poised to foster the comprehensive strategic partnership.

Vietnam’s National Assembly Chairwoman Nguyen Thi Kim Ngan and Chairman of the State Duma of Russia Vyacheslav V. Volodin. Photo: VNA

Vietnam’s National Assembly (NA) Chairwoman Nguyen Thi Kim Ngan and Chairman of the State Duma of Russia Vyacheslav V. Volodin co-chaired the meeting in Moscow last week.

“It would be right for us to work more intensively in the economic sphere, developing both foreign economic relations and goods circulation. It is clearly insufficient for the level of our relations. […] For our part, we must do everything to develop cooperation more effectively than today,” the State Duma quoted Viacheslav Volodin.

“When we talk about the work of our inter-parliament commission, it should do everything to ensure more dynamical development of foreign economic relations,” he said at the meeting.

Viacheslav Volodin supported the idea of creating working groups and said that the adoption of legislative decisions would entail a more active development of relations.

Meanwhile, Nguyen Thi Kim Ngan said “We will do our best to develop cooperation between our countries, trade and economic relations better. To ensure that these results correspond to good political relations between our countries.”

Vietnam’s National Assembly Chairwoman Nguyen Thi Kim Ngan and Chairman of the State Duma of Russia Vyacheslav V. Volodin at the first inter-parliament meeting in Moscow. Photo: Duma.org.ru

Economic in focus, oil and gas remain among key pillars

Both sides agreed to focus on economic ties.

Ngan said that it is necessary to discuss issues of cooperation in the oil and gas sector, agriculture, and tourism. She proposed having separate working groups for each field.

Vietnam expected to continue cooperation with Russia in power projects, especially one in the Center for Nuclear Science and Technology.

Viacheslav Volodin said the two countries need to do everything to develop more actively foreign economic relations and goods circulation so that Russian companies can more actively participate in the development of these relations, implementing investment projects.

He noted “It is extremely important to create all conditions for business development and implementation of investment projects both in Russia and Vietnam on the principles of developing bilateral cooperation.”

“If we reach US$10 billion (turnover), this will give an additional impetus to our countries. This will develop the economies of our countries and increase their prosperity,” said the chairman of the State Duma.

The leaders stressed the importance of more than 70 years of diplomatic relations and 25 years since the signing of the treaty on the principles of friendly relations between Vietnam and Russia, and the two parties.

They affirmed the parliament’s significant role in strengthening the legal basis for the bilateral relations and close coordination between the two sides at international parliamentary organizations, such as the Inter-Parliamentary Union, the Asia-Pacific Parliamentary Forum, meetings with dialogue partners at the ASEAN Inter-Parliamentary Assembly, the Meeting of Speakers of Eurasian Countries’ Parliaments, and the International Forum “Development of Parliamentarism”.

What are the principles to build forest environment and CO2 indexes?

Prof. Pham Van Dien, deputy director general of the Vietnam Administration of Forestry (VNFOREST)

The forest environment index would be a measure of the capacity to decrease CO2 emissions while simultaneously increasing absorption. A key part of this is forest carbon stock, the amount of carbon that has been sequestered from the atmosphere and is stored within the forest ecosystem.

Comparing the forest environment index with actual emissions will help set payments for reducing emissions and establish a market for international emissions trading for sellers, buyers, and intermediaries alike.

Regarding the CO2 index, I believe there are two theoretical avenues that can be taken. The index can either concern the carbon emissions of each facility separately, with the upper limit being the emissions quota allotted for them, or look at the net emissions of the entire market and carbon credit created by the decreases in emissions and increased absorption capacity achieved by managing the ecosystem.

At the same time, the two indicators need to be built with a mind to ensure economic growth while promoting forest protection, benefiting buyers, sellers, and farmers alike.

How will these indices promote carbon trading?

They will be the basic building bricks to developing the domestic carbon market, making it possible to exchange carbon credit within the bounds of domestic regulations and international commitments. Reduction targets are forecast to drive carbon credit supply below demand, making the market more animated.

The forest environment and CO2 indexes will motivate provinces to better manage their forests, while manufactures with net emissions will be encouraged to upgrade technology and switch to renewable energy to stay within their allotted quotas and avoid charges.

What can Vietnam learn from the experience of other countries in managing carbon emission?

Vietnam has been a proactive proponent of emissions reduction, joining the United Nations Environment Programme, including the United Nations Framework Convention on Climate Change, the Kyoto Protocol, the UN-REDD+ programme, and the Paris Agreement. Throughout these almost 20 years, we collected a great deal of international experience and adjust to suit the country’s realities.

VNFOREST has been working to internalise these international experiences and submitted regulations on the domestic and international transferring of carbon credit and the accompanying financial management mechanisms to the prime minister. The most urgent tasks at present are implementing policies to meet the demand.

What difficulties does Vietnam face in creating the indexes as well as developing the carbon market?

There is a tough road ahead of Vietnam. The first issue to tackle will be the creation of convincing regulations relating to the exchange of carbon credit and associated compensation issues. These regulations must be clear, realistic, and be rooted in a scientific basis.

Another problem is the allocation of emissions quotas would require realistic figures about the actual emissions of each facility, which at the moment are not shared or are only available in abridged forms that have been heavily interfered with.

At the same time, completeness, timeliness, openness, and transparency in implementation are of the essence. For this, a contingent of qualified, well-trained human resources, facilities, and equipment are required.

What proposals has VNFOREST submitted to advise the creation of these indexes?

After receiving the assignment of the prime minister, we began to compile a set of considerations we believed would be crucial. However, we have to pool our proposals with those of the ministries and other agencies to arrive at a workable document.

In my opinion, before officially rolling out regulations, the government should authorise the selling of carbon credits on a case-by-case basis as it will not only benefit forests but also help Vietnam accumulate experiences even before the legal framework is completed.

What potential do you see in carbon trading as a business, and what is VNFOREST doing to promote this potential?

One example for the potential is the Emission Reductions Payment Agreement signed between the Ministry of Agriculture and Rural Development and the World Bank’s Forest Carbon Partnership Facility (FCPF). Under the agreement, Vietnam will reduce 10.3 million tonnes of CO2 emissions from six north-central provinces.

If Vietnam implements this programme successfully, it could reduce emissions by a total of 24.6 million tonnes by 2025. After reducing the 10.3 million tonnes committed under the FCPF, the country can earn an additional $71.3 million by selling the carbon credit gained from the remaining 14.3 million tonnes for $5 per tonne (the average global selling price).

However, this is only part of the potential benefits because the project is implemented only in six north-central provinces – there would be far more to gain if it was extended to the entire country.

In addition, Vietnam has failed to reach the revenue target from forest environment services outlined in its national forestry development strategy for the period of 2006-2020. VNFOREST is still working to realise the full potential of this service segment.

VNFOREST is promptly completing the national forestry development master plan for 2021-2030 with a vision to 2045 to submit it to the government for approval, along with the public investment programme on sustainable forestry development for 2021-2025.

Besides that, the country will develop forest environment services, diversifying income sources, with the expectation to acquire VND3.5 trillion ($152.17 million) a year from the field by 2030.

Vietnam Fatherland Front receives donation for the poor (Photo: VNA)

Prime Minister Nguyen Xuan Phuc joins in a programme supporting COVID-19 prevention and fight initiated by Vietnam Fatherland Front (Photo: VNA)

President of the Vietnam Fatherland Front Tran Thanh Man talks to ethnic minority people in Dong Ma hamlet, Trung Yen commune, Son Duong district, Tuyen Quang province at the National Great Unity Day (Photo: VNA)

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