Australia and Vietnam have shared ambitions to realise opportunities within the green economy, and the Australia-Vietnam Green Economy Program aims to reshape the contours of the green economy by equipping Australian businesses with the knowledge, capabilities and networks to catalyse sustainable business collaboration with Vietnam.
Led by Asialink and Climateworks Centre and supported by the Department of Foreign Affairs and Trade (DFAT), this initiative emphasises sustainable development, the creation of jobs and growth and the transition to renewable resources and net-zero emissions. It’s designed to encourage an economic environment that promotes sustainable business practices.
Leigh Howard, CEO of Asialink Business, remarked, ‘The Australia-Vietnam Green Economy Program signifies our dedication to sustainable business partnerships, mutual growth, and a shared vision for a greener future. This initiative embodies the spirit of collaboration, bridging two nations with a common goal of sustainability and economic prosperity. It’s a testament to what can be achieved by combining our strengths and working towards a better future.’
In the recently launched Southeast Asia Economic Strategy to 2040, the ‘transition to a clean energy economy is both the most significant challenge and an opportunity for Southeast Asia and Australia’. The Australia-Vietnam Green Economy Program is set to propel this transition by enhancing research and knowledge of the green economy between Australia and Vietnam and by showcasing insights and experiences from businesses across both nations. The program will also equip Australian businesses with the skills and capabilities required so that Australian enterprises are better positioned to tap into opportunities.
‘Southeast Asia’s journey to a sustainable future unveils significant collaborative potential for Australia and Vietnam. The Australia-Vietnam Green Economy Program showcases the importance of knowledge-sharing, cultivating relationships, and equipping Australian businesses for these emerging opportunities.’ – Martine Letts, CEO, Asialink
A Joint Commitment to the Green Economy
One of the standout features of this program is its commitment to enhance the enabling environment to boost trade and investment and the foundations required to realise this. By facilitating policy dialogue, building capacity for engagement, strengthening partnerships between the two nations and facilitating connections in sectors like renewable energy industries and their supply chains, the program ensures that businesses are not just aware of sustainable supply-chain resilience but are actively working towards it.
The Australia-Vietnam Green Economy Program will help Australian businesses further understand the environmental, social, and governance risks and opportunities in Vietnam and foster increased dialogue with policymakers in Australia and Vietnam to build economic frameworks that support the green economy.
Climateworks Centre CEO Anna Skarbek says: ‘An enabling policy environment is critical to fostering the green economy partnership. Our program will inform decision-making and facilitate dialogue that can accelerate the energy transition, mobilise financing, and increase partnership for skills and innovation.’
The program starts with a series of briefing papers, the first of which, Navigating the Australia-Vietnam Green Economy, is authored by Asialink.
Cumulating in a capstone summit, Australian businesses will gain unparalleled access to government and support in deepening their engagement in the green economy across Australia and Vietnam. Its emphasis is on collaboration and opportunity.
Key pillars underpinning the Australia-Vietnam Green Economy Program
- Building Capacity for Engagement: Australian businesses are further equipped with the tools, knowledge, and connections they need to engage effectively with the Vietnamese market. A series of short briefing papers will advance Australian businesses’ understanding of Vietnam’s green economy, exploring topics such as Geopolitics of the Green Economy, Decarbonising Energy Generation and Consumption, and Sustainable Finance.
- Strengthening Partnerships: The Green Economy Summit and training academy are platforms designed to build and strengthen partnerships across both countries’ business, policy, and academic spheres. Placing sustainable development and relationships at the centre of economic engagement leads to sustainable business partnerships that benefit people and the planet.
- Enhancing the Enabling Environment for Trade and Investment: Ultimately, the program aims to facilitate two-way trade and investment between Australia and Vietnam’s green economies, facilitating connections in renewable energy, raising awareness of green finance frameworks and opportunities across both nations and promoting sustainable investment.
Understanding Geopolitics in the Green Economy
For businesses and policymakers, understanding Vietnam’s domestic and international priorities is crucial for long-term strategic planning. Geopolitics is a key considerationwhen engaging in global business. The green economy is no exception.
Dive deeper with the first briefing paper in the series, Navigating the Australia-Vietnam Green Economy, a report by Asialink, in advance of the Australia-Vietnam Green Economy Summit.
A Sustainable Future
The program’s emphasis on strengthening partnerships is evident. By congregating expertise from the business, policy, and academic spheres, the program fosters an environment conducive to developing robust partnerships. Furthermore, the program serves to showcase successful bilateral trade relationships in the green economy and equip businesses to establish fruitful cross-border partnerships or market access. By providing the knowledge, capabilities and skills, the Australia-Vietnam Green Economy Program aims to establish enduring value in Australia and Vietnam’s green economies.