Vietnam is actively pursuing sustainable development and international cooperation to achieve its long-term economic and environmental objectives. The government has outlined a strategic vision focusing on significant reforms across political and legal frameworks, substantial investments in public infrastructure, and the expansion of the private and industrial sectors. These initiatives aim to foster inclusive economic growth and enhance the nation's global competitiveness.
In line with its commitment to sustainable development, Vietnam is hosting the 4th Partnering for Green Growth and the Global Goals 2030 (P4G) Summit in 2025. The summit, scheduled for April 14 to 17, 2025, under the theme "Sustainable and People-Centered Green Transition," will bring together approximately 1,000 delegates from 40 countries. This event underscores Vietnam's dedication to advancing the United Nations Sustainable Development Goals (SDGs) and promoting green growth at both national and global levels. The P4G Summit will serve as a platform for sharing experiences, best practices, and resources within the Public-Private Partnership (PPP) framework, emphasizing the importance of inclusive participation in the green transition. Ministerial-level sessions will focus on key sectors such as finance, technology, and innovation for green growth. Additionally, Vietnam is expected to receive P4G financing for projects in energy transition, green transportation, green agriculture, zero-waste industries, and digital water management solutions. The summit is anticipated to conclude with the adoption of significant documents, including the "Hanoi Declaration on P4G," emphasizing people-centered development, and the P4G Joint Statement, reaffirming enhanced collaboration with multilateral organizations to promote green growth.
Vietnam's focus on sustainable development is also evident in its energy sector. The country is revising its energy plans to prioritize large solar farms and reduce reliance on coal and natural gas. The new policy aims for 16% of energy from solar, significantly higher than the previous 5% target. Offshore wind projects and new gas developments have been deemed expensive and impractical. To meet anticipated power demand, Vietnam plans to expand solar capacity and develop onshore wind, rooftop solar, and energy storage. This shift is partly due to difficulties completing liquefied natural gas projects. However, the rapid growth in solar power from 2018 to 2020 overwhelmed the outdated electricity grid, causing a stall in further solar developments. Despite these efforts, coal usage is increasing to compensate for hydropower losses due to drought and rising industrial power demands. The country still grapples with upgrading its grid infrastructure and balancing clean energy expansion with ongoing coal dependence.
In the realm of international relations, Vietnam is strengthening its economic diplomacy to support its development goals. Prime Minister Pham Minh Chinh chaired a conference with heads of Vietnam’s overseas diplomatic missions to bolster economic diplomacy, aiming to achieve the economic growth target for the second half of 2025 and lay the groundwork for sustained growth in the coming period. The conference focused on enhancing trade and investment relations, reflecting Vietnam's commitment to fostering international partnerships that contribute to its sustainable development objectives.
Vietnam's dedication to sustainable development is further demonstrated by its support for multilateralism and the United Nations 2030 Agenda for Sustainable Development. At the 2025 High-level Political Forum on Sustainable Development in New York, Ambassador Do Hung Viet, Vietnam's Permanent Representative to the U.N., emphasized the country's strong support for multilateralism and global partnerships to promote collective efforts toward achieving the SDGs. He highlighted the importance of science, technology, and innovation in achieving the SDGs and called for equitable access for developing countries to advanced technologies, knowledge, and digital infrastructure through technology transfer, capacity building, and innovation cooperation.
Through these initiatives, Vietnam is demonstrating a comprehensive approach to sustainable development, integrating economic growth with environmental responsibility and international collaboration to build a resilient and prosperous future.