The United Nations Development Programme (UNDP) announced a report
titled “green growth and fossil fuel fiscal policies in Vietnam” at a
meeting in Hanoi on June 16.
Presenting the main content of
the report to participants, UNDP’s Policy Advisor in Economics Michaela
Prokop acknowledged Vietnam’s commitments to promoting green growth,
including the restructuring of the energy sector.
She
underlined the significance of reforming fossil fuel fiscal policies,
saying that it will help enhance energy productivity and supply
resources and ensure national energy security.
Reform will also contribute to speeding up GDP growth, reducing fiscal burden and protecting the environment, Prokop added.
The
report stressed that Vietnam’s recent efforts in its restructuring
of the energy sector are expected to help the country implement a more
sustainable growth model in the future.
Measures to protect
low-income people and enterprises, who are usually affected by the price
increase of fuel, were also set forth in the report.
The
report, built on the studies of the Central Institute for Economic
Management, the Vietnam Academy of Social Sciences, the Energy
Institute, the Institute of Financial Strategy and Policy, the Gbobal
Subsidies Initiative and the International Institute for Sustainable
Development, is expected to importantly contribute to setting up a
roadmap for further reform.