Towards Green Exports and Sustainable Development

Climate change poses significant challenges for Vietnam. Located in one of the most vulnerable regions to rising sea levels and natural disasters, Vietnam’s coastal industrial zones face substantial risks of production disruptions and asset damage.

In addition, major export markets such as the EU, the US, and Japan are implementing stringent environmental standards, such as the EU’s Carbon Border Adjustment Mechanism (CBAM). These policies require imported products to comply with carbon emissions reduction regulations during production. This presents a significant challenge for Vietnam’s manufacturing and processing industries, which still rely heavily on carbon-intensive energy sources.

The green consumption trend is creating significant opportunities for Vietnam to enter high-value markets. According to international reports, the market for environmentally friendly goods from organic foods to green technology products is projected to grow at an average annual rate of 8–10% in the coming years.

Sectors such as renewable energy, recycled materials, and eco-friendly products have the potential to become strategic export industries for Vietnam. Currently, the proportion of environmental goods in Vietnam's total export turnover remains low, at only about 2%, lagging behind several ASEAN countries. This indicates significant room for growth in this area.

To tap into this potential, Vietnamese businesses must invest more in research and development of new products and leverage free trade agreements to expand markets for green products.

Renewable energy plays a crucial role in reducing carbon emissions and improving the competitiveness of export goods. With its natural advantages, Vietnam has become one of the regional leaders in solar and wind energy development.

However, transitioning to renewable energy in production still faces many challenges, particularly high investment costs and limited transmission infrastructure. According to the Power Development Plan VIII (PDP8), Vietnam aims to significantly increase the share of renewable energy in its total electricity supply by 2030.

To achieve this goal, financial and policy support from the government is necessary, along with encouraging private sector participation in renewable energy projects. Using clean energy not only helps businesses reduce long-term costs but also enhances their ability to meet international environmental standards.

The transition to green exports requires a comprehensive and coordinated strategy. First, Vietnam must establish domestic green production standards aligned with international regulations. This will better prepare businesses to access demanding markets.

Second, access to funding must be improved for businesses, particularly through preferential loans and green investment funds. These supports will enable enterprises to implement technological innovation projects and reduce emissions.

Finally, an ecosystem of collaboration among businesses, the government, and international organizations must be built. Such connections will facilitate technology transfer and promote Vietnamese goods in the global market.

Vietnam stands at a critical juncture to shape its future in the global green economy. Transitioning to green exports will not only meet new international market requirements but also deliver long-term economic, social, and environmental benefits.

Only through coordinated efforts between businesses and the government to enact fundamental changes can Vietnam seize opportunities, overcome challenges, and position itself as a pioneer in sustainable development. This shift is not just a condition for international integration but also a pathway for Vietnam to protect its environment and improve the quality of life for future generations.