After two challenging years, Khanh Hoa has rebounded to the top ranks in economic growth. Vice Chairman Tran Hoa Nam shares insights on the province's strategies for overcoming economic challenges and embracing green development.

Khanh Hoa’s tourism sector is making waves with its green initiatives, including a solar-powered tourist area that rarely relies on the national grid and an eco-tourism model that harmonizes with nature.

In the vast offshore waters of Khanh Hoa, traditional foam buoys and wooden rafts have been replaced with environmentally friendly HDPE (High-Density Polyethylene) cages that withstand strong storms and waves.

“By June, our export orders were full, ensuring production continuity until the first quarter of 2025,” shares a leader from Khanh Viet Corporation (Khatoco) in Khanh Hoa.

Recent reports suggest a decline in Vietnam’s green bond issuance, with only around VNĐ3 trillion in the first ten months of 2023 compared to VNĐ37 trillion in 2021.

Tourism is expected to directly contribute 8-9 per cent and 13-14 per cent of gross domestic product (GDP) by 2025 and 2030, respectively.

Experts believe that "green" will be a "weapon" for businesses to compete with rivals in the world market in three to five years.

Sustainable development has become the goal of more and more Vietnamese businesses.

Vietnamese Prime Minister Pham Minh Chinh stressed that Vietnam considers green growth, together with digital transformation, the two core factors of growth, and will not accept the ‘growing first, tidying up later’ model.

The Ministry of Natural Resources and Environment (MoNRE) has issued a decision announcing Vietnam's Hydrofluorocarbons (HFCs) production and consumption baselines and total national consumption for the 2024 - 2028 period.

“Sustainable development is a factor that helps heighten value and guide the branding of Vietnamese enterprises in the European market,” said Ngo Chung Khanh from the Ministry of Investment and Planning.

Energy transition is a "golden opportunity" for Vietnam to ensure and improve social security and promote green transformation, towards realising its commitment to net zero emissions by 2050.

Vietnam and Denmark will continue to work together to achieve global climate ambitions and accelerate the ongoing cooperation in various sectors towards a green transition and sustainable social and economic development.

Without unified definitions of green sectors and green lists for application, banks are continuing to find it difficult to select, appraise, and supervise green credit provision.

Vietnam is learning from international experiences to develop a carbon market to ensure its appropriateness to the country’s legal framework and infrastructure system.

The central Government has set a target for the Mekong Delta to establish one million hectares of high-quality, low-carbon rice production by the year 2030 in a decision signed on Monday by Deputy Prime Minister Trần Lưu Quang.

Vietnam has made progress in the Green Future Index 2023, climbing from its previous 56th position to a commendable 53rd place this year.

The Ministry of Planning and Investment (MPI) has recently issued a circular on the set of statistical targets for green growth.

Recycled material content in many textile products had soared to 60 per cent.