The southeastern region, which leads the country in foreign direct investment attraction, has great potential and motivation to attract high-quality investment, particularly those to green and sustainable development areas, heard a conference held in Dong Nai province on October 12.

Speaking at the conference, which focused on green investment attraction to the region, Do Thien Anh Tuan, lecturer at the Fulbright School of Public Policy and Management said that the Southeast region has 692 businesses subject to the requirement to make greenhouse gas (GHG) emissions inventory under the law.

This is a big challenge, so a framework programme for the implementation of the GHG emission inventory is needed, he said, adding that the programme should be integrated into other programmes in the field of ministries and agencies.

Financial solutions such as green credit, green stocks, green bonds, and tax policies are also needed to provide incentives and form carbon credit markets.

Meanwhile, localities need to promote inter-regional mechanisms, business environment reform, and human resource training as well as have specific policies to encourage businesses to innovate technology and shift to green growth models.

Associate Professor Dr. Pham Tien Dat, Rector of the University of Finance and Marketing, said that green investment brings not only positive impacts in terms of climate change adaptation and environmental protection but also great economic benefits.

Investment in green projects, green technology, and green products helps change the community’s consumption lifestyle and increase the competitive advantage, and reputation of businesses, and countries.

Moreover, businesses that apply green technology will attract more capital from investors, and gain more customers, thereby increasing the value of the business. On the other hand, green projects can mobilise capital from banks at lower costs than usual.

Nguyen Dinh Cung, former director of the Central Institute for Economic Management, said that the southeastern region has seen rapid development but its growth model for many years has not changed.

Innovating the growth model of the region is an inevitable need, he said, suggesting the region select investors with high technologies, environmentally friendly, those using little labour, and planting more trees.

The southeastern region must also focus on waste treatment, especially wastewater treatment, he said.

VNA