Australia-Vietnam Green Economy Program Roundtables in Sydney and Melbourne
27 October 2023: Asialink, Asialink Business and Climateworks Centre, with the support of the Australian Department of Foreign Affairs and Trade, hosted two influential roundtable discussions in Melbourne and Sydney. These roundtables were part of the Australia-Vietnam Green Economy Program, aimed at engaging industry leaders interested in the green economy of Vietnam.
The roundtables, held at McKinsey & Company in Sydney and Ernst & Young in Melbourne provided a platform for Australian business, industry, and government leaders to delve into the opportunities and complexities of engaging with Vietnam's green economy. Martine Letts, Leigh Howard, and Anna Skarbek, CEO of Climateworks Centre, led the insightful discussions. Robert Law and Trang Nguyen, the Southeast Asia Lead at Climateworks Centre, presented key findings from a series of briefing papers.
Some of the themes that emerged from the discussions were:
- Economic resilience amid challenges: Despite economic slowdowns due to the pandemic, a struggling property sector, and bond market volatility, Vietnam has maintained a favourable stance in major trade deals, with anticipated growth rebounding in 2024.
- Energy transition as a focal point: Vietnam's ambitious energy transition, marked by a surge in renewable energy adoption, underscores the vast potential for investment and the need for international partnerships to meet energy targets.
- Long-term green economy prospects: The policy landscape in Vietnam is progressively adapting to foster a conducive environment for green investments, with increasing domestic capabilities in renewable energy projects highlighting future opportunities.
The roundtable series concluded with a note of optimism for the green economy in Vietnam, recognising the short-term hurdles but also the significant long-term opportunities. The discussions illuminated the strategic importance of partnerships in navigating the complexities of Vietnam's economic and geopolitical landscape.