A new paper from Monash University’s Climateworks Centre said Australian businesses should start tapping into green economy investment and trade opportunities in Vietnam, including renewable energy resources and sustainable development to support net-zero emissions.
In the paper titled The Supply Chain of Decarbonisation Technologies in Vietnam, Climateworks Centre said the potential to manufacture and export decarbonisation technologies from Vietnam is vast and Australian businesses should start to look for opportunities to participate in the era of decarbonisation.
The latest paper is the third of five briefing papers to be released under the new initiative led by Asialink and Climateworks Centre, titled the Australian-Vietnam Green Economy Program, which seeks to foster collaboration and development between the Australian and Vietnamese governments, as well as businesses in the green economy.
Anna Sharbek, CEO of Climateworks, highlighted the need for a policy environment that would foster 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,” said Skarbek.
According to the paper, the global demand for solar, wind, energy storage, semiconductors, and hydrogen is surging, ushering in a new era of investment in decarbonisation technologies.
“The complex supply chain is core to producing clean energy, and is of critical importance in nurturing a green economy, with Vietnam emerging as a leader in the region,” said Climateworks Centre Southeast Asia Lead Trang Nguyen.
“The geopolitical landscape underpins the need for diversification in the supply chains for decarbonisation technologies. Vietnam, with its progressive trade policies and existing manufacturing capabilities, is poised to play a significant role,” Nguyen added.
Backed by the Australian Department of Foreign Affairs and Trade, the Australian-Vietnam Green Economy Program includes the release of five briefing papers and associated roundtable discussions and webinars over seven months to provide insights into the opportunities and challenges of realising Vietnam and Australia’s shared ambition to transition to a clean energy economy.
The program culminates in a summit in Ho Chi Minh City in April 2024, Monash said in a media release.
