Green economy needed for sustainable development

Vietnam is committed to reaching the 17 Sustainable Development Goals, according to the Ministry of Planning and Investment (MPI).

The Ministry of Planning and Investment (MPI) has suggested that Vietnam prioritize the development of the green economy and the circular economy and climate change adaptation for sustainable development.

The country also needs to mobilize additional financial resources while increasing the effective use of existing funds to reach the goal of sustainable development, ministry representatives told a workshop on March 24 in Hanoi on the Draft National Voluntary Review (VNR) on the implementation of Vietnam’s Sustainable Development Goals (SDGs) in 2023.

Promoting public administrative reform and enhancing the transparency of and accountability in the administrative system are important in addressing bottlenecks in growth over the years to come, according to the MPI.

Green economy needed for sustainable development
Green economy needed for sustainable development.

Ms. Naomi Kitahara, Acting Resident Coordinator of the UN, expressed her appreciation of the government using innovative data sources, based on in-depth analysis, and mobilizing multiple stakeholders to participate in the development of VNR 2023.

She pointed out that investing in social protection and energy transition alone can accelerate the progress of the SDGs. “The UN estimates that each VND invested in social security can generate more than one VND in GDP, ensuring greater socio-economic benefits, contributing to sustainable and inclusive growth, and leaving no one behind,” she said.

The VNR is a process through which countries assess and present national progress in implementing the 2030 Agenda, including achieving the 17 SDGs and the pledge to leave no one behind. The purpose of the VNR is to present a snapshot of where a country stands in the implementation of the SDGs, with a view to helping accelerate progress through experience sharing, peer-learning, identifying gaps and good practices, and mobilizing partnerships.

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(Source: Vneconomy)