The Vietnam's Association of Foreign Invested Enterprises (VAFIE) and a delegation of the Forest Governance, Markets and Climate (FGMC) program under the British government have been discussing sustainable and green growth in Vietnam.
At a meeting on Wednesday at the VAFIE's headquarters, Hugh Speechly, an official of the FGMC program, noted key points of the program, which is worth hundreds of millions of pounds.
FGMC aims to provide grants for projects that support governance and market reforms to reduce the illegal use of forest resources and benefit poor people. Vietnam, among 16 nations being sponsored by the program, is a key target, he added.
The delegation aimed to learn about Vietnam’s forestry sector, major Vietnamese investors and governance rules in the sectors. Vietnam is among the biggest exporter of wooden and wooden products in the world, while the country is a major importer of wood, especially from regional peers and African nations, he added. The FGMC program will bring huge benefits to Vietnam, he affirmed.
The delegation is building a handbook on practices in the sector, aimed at changing business behavior.
Prof. Nguyen Mai, chairman of VAFIE, and Dr. Nguyen Anh Tuan, standing vice chairman of VAFIE and editor-in-chief of The Investor, emphasized that the association plays a key role in Vietnam by advising the government on how to update the investment legal framework.
VAFIE also has connections with other business associations, especially in import-export activities. Additionally, the association has compiled and published books on the green economy and circular economy to support Vietnamese investors in the forestry sector.
Dr. Tuan invited the foreign delegation to participate in a conference titled “Urgent matter: Updating the legal framework on green finance, green bond”, to be hosted by The Investor on April 3.