Green transformation is a core component in Vietnam's new development model

Within the framework of the State visit to the Kingdom of Denmark, on the afternoon of October 19 (local time), General Secretary and President To Lam delivered a policy speech at the University of Copenhagen: "From fairy tales to the sky of Vietnam - Denmark cooperation in the new era".

After concluding the policy speech, answering questions related to what role the green transformation process plays in Vietnam's new development model; what areas should cooperation with international universities (such as the University of Copenhagen) focus on to promote knowledge and technology transfer, capacity building, thereby turning green transformation into a driving force for growth and competitiveness, General Secretary and President To Lam clearly stated that Vietnam does not consider green transformation as an environmental commitment or a temporary trend but as a growth engine of the future; identifying green transformation as a core component in Vietnam's new development model, associated with the goal of double-digit average growth in the coming period of the country.

With that role, green transformation helps upgrade Vietnam's economic model, shifting from broad development - based on resources and labor - to in-depth - based on productivity and clean technology; and at the same time is a door opening up opportunities for the development of new economic sectors such as renewable energy, energy storage technology, circular economy, green materials and low-emission agriculture.

General Secretary and President To Lam said that cooperation with universities can focus on the following areas: policy research and modeling of energy transition; development of new generation renewable energy; sustainable agricultural development; training high-quality human resources.

Answering questions related to what other initiatives the Vietnamese Government is implementing to both support economic growth and help avoid the "middle-income trap"; especially through the economic transition from production orientation to consumption orientation, General Secretary and President To Lam said that Vietnam's orientation to overcome the middle-income trap is based on "three shifts": from cheap labor to productivity and innovation; from extensive growth to green growth, digitization and inclusiveness; from mainly dependence on exports to balancing between exports and the domestic consumer market.

In other words, it is necessary to rebalance growth drivers according to the following orientations: shifting from growth based on capital and labor to growth based on science and technology and innovation; Institutional reform to become a foundation for creating development space; Investing in human resources.

Vietnam identifies education and training as a top national policy, focusing on improving the quality of education, associated with the needs of the labor market, especially in strategic technology industries; developing digital skills for the labor force through retraining and lifelong learning, so that workers can adapt to the digital transformation process; attracting and valuing domestic and foreign talents, through competitive remuneration mechanisms and favorable working environments; building a green, inclusive and highly resilient economy, promoting green transformation, developing renewable energy and promoting the circular economy.

According to General Secretary and President To Lam, shifting from a production-oriented growth model to a more balanced model does not mean reducing the role of production or exports. The important thing is to combine competitive production capacity with domestic purchasing power through measures such as developing e-commerce, cashless payments and new economic models such as the night economy, creative economy, silver economy, low-level economy, and cultural industry.

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