Vietnam needs some 30 bln USD to implement green growth strategy

Vietnam needs some 30 billion U.S. dollars to successfully implement green growth strategy by 2020, said a report by the Ministry of Planning and Investment (MPI) on Wednesday.

The report was released at a seminar co-held by Vietnam's Ministry of Industry and Trade (MoIT) and European Trade Policy and Investment Support Project on green growth and trade opportunities for Vietnam in capital Hanoi on Wednesday.

Trinh Minh Anh, deputy chief of the MoIT's Office of the National Committee for International Economic Cooperation said at the seminar that green growth will support economic sectors, especially goods export-import activities.

Vietnam's key export items, such as seafood, agricultural products, garment, footwear among others, need to comply environmental and epidemiological standards set by importers.

Thus, Vietnamese exporting firms should access green services to improve processing and transporting techniques, which help meet up with these standards, said Anh.

However, in fact, most Vietnamese companies have limited financial sources, weak infrastructure with outdated technology. They also violate environmental protection regulations, Anh added.

Nguyen Huy Hoan, deputy head of the MoIT's Scientific and Technological Department said by 2020, the sector targets to reduce some 8-10 percent of greenhouse emissions compared to that of 2010.