Vietnam to Start Prioritizing Green FDI Projects

Sep 2019

According to Decision 50-NQ/TW issued by Vietnam’s Politburo, the country will prioritize selecting investments which employ Environment friendly and modern technologies. Projects using outdated and resource-intensive technologies which pose potential risks to the Environment may not be allowed to expand or renew.

Investors will be held responsible for protecting the Environment during the entire life cycle of their projects, starting from implementation to business operation. Local leaders and agencies will also be held accountable for projects that cause Environmental harm, fail to deliver on agreed-upon commitments or use natural resources wastefully.

The country aims to attract USD 150-200 billion of foreign direct investment (FDI) between 2021 and 2025 and USD 200-300 billion between 2026 and 2030, with projects including advanced and Environmentally sustainable technology accounting for 50%, and the ratio of skilled workers employed by the projects moving to 70% in 2025 and 80% by 2030. Investors will be held accountable for meeting housing education and Medical care demands of industrial workers. Furthermore, the government has promised to protect investor assets, intellectual property rights and other interests through its legal framework and international treaties.

(Source: Vietnam News)

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