Proactively and comprehensively transitioning to a green economy
Prime Minister Phạm Minh Chính issued an official dispatch regarding the active and proactive implementation of solutions to promote the circular economy, sustainable production and consumption, and sustainable trade to meet requirements of the EU’s green policies.
The dispatch was sent to the ministers of Industry and Trade; Finance; Planning and Investment; Science and Technology; Transport; Education and Training; Labour, Invalids and Social Affairs; Foreign Affairs; Agriculture and Rural Development; Natural Resources and Environment; and Construction; the Chairpersons of the People's Committees of provinces and centrally-run cities; the presidents of industry associations; and the leaders of corporations and groups.
It emphasises that in recent years, cooperation between Việt Nam and the EU has been strengthened, contributing to promoting sustainable trade and economic growth. The EU is Việt Nam's third-largest export market, with export turnover reaching US$51.66 billion in 2024, up 18.5 per cent year-on-year.
With the significant positive impact of the EU-Việt Nam Free Trade Agreement (EVFTA), the prospects for exports to the EU market are growing stronger, leading to the potential for increased income for tens of millions of workers involved in the production chain, thereby promoting growth toward a green and circular economy in Việt Nam.
The EU's green agreements are posing significant challenges for Việt Nam's exports. However, in the long term, proactively and comprehensively transitioning to a green economy will create numerous opportunities for businesses, helping them enhance competitiveness and expand the market for sustainable, green products with great potential.
