Australia-Vietnam Green Economy Program
Australia-Vietnam Green Economy Program
The Australia-Vietnam Green Economy Program, an initiative led by Asialink and Climateworks Centre and supported by the Department of Foreign Affairs and Trade, aims to foster collaboration between government and business in the green economy. The program will do this by developing commercial opportunities, knowledge, connections and business capabilities for Australian businesses.
The program is dedicated to harnessing the green economy's potential, focusing on sustainable development, the creation of jobs and growth and the transition to renewable resources and net-zero emissions. It will incorporate a series of insightful briefing papers and roundtables, culminating in a capstone summit and training academy. Businesses will gain unparalleled insights into the opportunities and challenges of realising Vietnam and Australia’s shared ambition and imperative to transition to a clean energy economy. The program aims to enhance the enabling environment for trade and investment, foster robust connections, and enhance the knowledge and capabilities of Australian businesses to tap into the green economy.
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Australia-Vietnam Green Economy Academy
The Australia-Vietnam Green Economy Academy is a transformative training program. It is designed to bridge the capability gap between Australian businesses seeking to engage in and with Vietnam's green economy and Vietnam's complex business and political environment. The Academy equips you with the critical knowledge and skills needed to understand and navigate opportunities in Vietnam's emerging green economy.
If your business operates within the green economy, and you are serious about entering or expanding into Vietnam, then the Academy is your next step.
By undertaking the program, you will:
- Accelerate your understanding of the green economy opportunities in Vietnam.
- Build the capabilities and skills to succeed in the Vietnamese green economy.
- Unlock networks to support you to do business in and with Vietnam.
Australia-Vietnam Green Economy Summit
Asialink and Climateworks Centre are accepting Expressions of Interest from Australian and Vietnamese business leaders to discuss opportunities in Vietnam's green economy.
The Australia-Vietnam Green Economy Summit will create opportunities for businesses to explore commercial opportunities, engage with government decision-makers and understand the policy landscape. It will provide a focal point for Australia and Vietnam to deepen and broaden their green economy partnership and spur trade and investment.
Date: 15-16 April 2024
Location: InterContinental Saigon, Ho Chi Minh City, Vietnam
Briefing Papers
For businesses and policymakers, staying abreast of Vietnam’s domestic and international priorities is crucial for long-term strategic planning.
Navigating the Australia-Vietnam Green Economy
A report by Asialink
Geopolitics is unavoidable when engaging in global business. The green economy is no exception. This briefing paper delves into the strengthening ties between Australia and Vietnam, centred around shared concerns for climate change and its impact. With Australia's potential as a renewable energy superpower, collaboration in the green economy emerges as a key area. The paper explores the political, economic, and geopolitical landscapes, emphasising the need for intensified efforts from both government and business for meaningful cooperation in mitigating climate change effects.
Decarbonising Vietnam's Energy Generation
A report by Asialink
Vietnam's growing energy demand necessitates significant investments, eyeing renewable sources like solar and wind. This briefing paper touches on the opportunities and challenges in the energy transition as Vietnam looks to decarbonise its energy generation. Although Australian entities lack a major presence, they hold the potential for substantial contributions. The paper uncovers how navigating complex regulatory realms, especially energy pricing structures like Feed-in Tariffs, is crucial for investing in Vietnam's energy transition.
The Supply Chain of Key Decarbonisation Technologies in Vietnam
A report by Climateworks Centre
The significance of diversifying the supply chain is becoming more evident as renewable energy, energy storage, hydrogen and semiconductor technologies become more dominant in the global economy. A potential disruption of the supply chain, such as higher commodity prices, or geopolitical tensions could potentially bring economy-wide repercussions, either delaying the energy transition or making it more expensive.
As a global trade hub with progressive trade policies, Vietnam has an important role to play in global diversification efforts.
Enabling Investment for Vietnam's Energy Transition
A report by Climateworks Centre
Vietnam's rapid economic growth and transition towards a market-oriented economy highlight the significant rise in emissions due to industrial expansion. This briefing paper emphasises the need for increased investment in low-carbon activities, leveraging international partnerships and private sector engagement to support Vietnam's ambitious climate objectives and sustainable development. Through strategic investments and policy measures to catalyze green investments and the enhancement of sustainable finance markets, certain policy levers can bolster Vietnam's commitment to its climate and development agendas.
Green Skills for Vietnam's Climate Transition
A report by Asialink
Decarbonising Vietnam's economy presents significant opportunities and challenges for Vietnamese and Australian industry sectors. An estimated one million new jobs will be created by 2040, necessitating a significant reskilling and upskilling of Vietnam's workforce in emerging and existing sectors. Australian universities and vocational education providers can play a pivotal role in addressing this skills gap, leveraging their established relationships and expertise to deliver green skills training. This briefing paper encourages Australian businesses and the government to invest in industry-based training to upskill workers, alongside collaboration with Vietnam on the development of industry-engaged technical and vocational education and training.
Roundtables
Asialink and Climateworks hosted two roundtables with industry leaders across the green economy.
Key takeaways from the discussions were:
- While there are economic challenges due to the pandemic, property market and bond market – the future is promising for Vietnam who has strategically positioned itself in key trade deals
- The energy shift to clean energy needs major investment. Previous surges in investment like the 2018-2020 “solar boom” shows promise, with success depending on international partnerships
- Evolving policies encourage investment and the need to develop domestic renewable energy expertise
- While mitigation efforts are crucial, there's a growing consensus on the need to broaden the scope of the green economy by emphasising both mitigation and adaptation.