Page 77 - Ebook HTKH 2024

capital but can also help Vietnam access and catch up with new development trends in
the world.

In Vietnam, FDI is still identified as an important capital attraction channel to carry
out industrialization and modernization of the country. However, in the context of
increasing climate change, many natural resources are gradually depleted, the trend of
sustainable development is gradually becoming the trend of the times, attracting FDI
needs to carefully consider the impacts on the environment in addition to economic
benefits. The Government's concern for environmental issues in attracting FDI has been
demonstrated through a series of important policies such as the National Strategy on
Green Growth for the 2021-2030 period, with a vision to 2050; the Government's

National Strategy on Climate Change Response, the Socio-Economic Development
Strategy for the 2021-2030 period... Attracting green FDI will be an important pillar for
Vietnam to both ensure resources for socio-economic development and achieve
sustainable development goals. To effectively attract green FDI in the coming time,
Vietnam needs to focus on the following issues:
Firstly, in terms of law, it is necessary to develop specific and clear regulations

and criteria on environmental protection and exploitation and use of natural resources
in attracting and using FDI. In particular, special attention should be paid to developing
criteria for evaluating green FDI, completing the list of environmental products and
services, thereby allowing the classification of FDI projects based on the potential
impact of the project on the environment. On the basis of classifying FDI projects, it is
necessary to introduce policy mechanisms, incentives and support for green FDI projects
and projects with positive impacts on the environment. On the other hand, it is not

necessary to extend or expand operations for projects that do not meet technological and
environmental standards and not to attract projects that import outdated machinery and
equipment that can pollute the environment and destroy natural resources.
Secondly, build preferential policies to attract FDI capital into high-tech industries,
environmentally friendly technologies, clean energy, and renewable energy. In addition,
it is necessary to develop modern technical infrastructure, especially new industries on

digital platforms and new technologies in the 4.0 era.
Thirdly, establish specialized departments to research green FDI, criteria for
evaluating green FDI, regularly update green FDI trends in the world, experience in
attracting and managing green FDI projects, experience in handling environmental risks
from FDI projects..., thereby proposing appropriate policies and solutions.
Last but not least, it is necessary to strengthen inspection, examination, and
supervision of environmental protection and use of natural resources at FDI enterprises
to promptly detect and prevent violations of environmental protection.

References
1. Ministry of Planning and Investment (2020). Report on foreign direct investment situation in 2020.
Ministry of Planning and Investment's electronic information portal.

69