As published in VnEconomy on 17 December 2022

Question 1: Could you please share your suggestions for Viet Nam to enhance the mobilization of international resources/fund for promoting green and sustainable economic development?

In my opinion, Viet Nam needs to recognize that with an economy like Viet Nam today, international capital will gradually become less important.

In order to mobilize international public finance, we believe that Viet Nam needs to strengthen the domestic financial system and reform financial policy institutions to be credible for lenders and investors in international public sector.

To mobilize international private finance, investment opportunities need to be both profitable, clear and predictable. For example, the Government of Viet Nam could invest in essential infrastructure projects in advance, ensuring that this infrastructure is ready to receive investment capital. The Government also needs to ensure a safe regulatory environment to promote international private investment.

Question 2: Could you please share your view on how to increase public investment efficiency? 

Right from the planning stage, public investment decision- making needs to be restructured, focusing on outputs rather than inputs, which will help attract private investment. I believe we also need to reconsider how investment can support national development priorities. It is also important to ensure that inter-provincial and inter-regional projects are better supported.

From an industry perspective, policy coherence matters. We need to focus on policy coherence across sectors in the implementation phase.

In addition, the capacity of local actors should be considered in ensuring that local governments and local actors have the capacity to effectively implement and monitor projects.

Question 3: In the coming time, what should Vietnam do to pursue the goal of sustainable development?

Sustainable development is a cohesive agenda, integrated with all development goals interconnected. Viet Nam has done very well in achieving these goals, reflected in the improvement of many development indicators. Many Vietnamese people have been lifted out of poverty, and we have also seen significant improvements in education and health indicators.

At the same time, Viet Nam has committed to being carbon neutral by 2050. To do that, it is necessary to change the way we think about people and prosperity within the framework of the government perspective. government.

In the future, more efforts are needed to move towards a more sustainable and inclusive development, taking into account the growth trajectory and goals Viet anam aspires to, while protecting the health of the earth and the environment.