Green growth (GG) and business environment reform (BER) are parallel processes happening in Viet Nam. Green growth is largely understood as a restructuring of the economy to use resources more efficiently and raise competitiveness while meeting sustainability goals. It thus has implicit implications for business, in particular as regards new market opportunities in the renewable energy sector. However, there is no formalised framework addressing both GG and BER together.
The case study Macroeconomic Reform in Viet Nam on Ecological and Inclusive Growth looks specifically at the Green Growth Strategy of Vietnam, approved in 2012, with the threefold aim of promoting low carbon growth, greening production and greening lifestyles. The Strategy has been successful at fostering a common understanding of green growth in Viet Nam. Current challenges relate to moving from strategy to implementation and developing appropriate measurement metrics and financial mechanisms to this end.
This report examines the green growth potential and identifies best practices for policy and governance as well as ways to strengthen current practices.