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As the world shifts toward a more viable future, green transport plays a crucial role in developing a smart, sustainable economy. This shift necessitates the establishment of robust policies, the attraction of necessary resources, and the innovation of economic tools to combat climate change, manage resources effectively, and protect the environment.
In line with Vietnam’s commitments made at COP26, Prime Minister Pham Minh Chinh approved an action plan for green energy transformation on July 2, 2022. This plan aims to significantly reduce carbon and methane emissions in the transportation sector, with an ambitious target of achieving net-zero emissions by 2050.
The action plan outlines strategic solutions across five key transportation sectors: urban rail systems, high-speed railways, electrified national railways, green ports, and the transition to electric and green energy vehicles.
While Vietnam has made strides in developing inteliggent transportation systems, including railways, and producing electric buses and cars, these achievements are just the beginning. The transport sector still requires substantial resources and supportive policies to encourage businesses and the public to adopt greener solutions.
Minister of Transport Nguyen Van Thang underscored the significance of developing green urban rail and port systems, stating that such infrastructure development is one of three strategic breakthroughs essential for Vietnam’s aspiration to become a high middle-income developing country by 2030 and a high-income country by 2050.
Experts have pointed out the pressing demand for green transport infrastructure. Although charging stations for electric vehicles have been established, there is still a considerable need for investment in ports, airports, and railways. Mobilising resources to achieve net-zero emissions by 2050 remains a formidable challenge. However, international organisations like the European Union and the World Bank have pledged support in the form of equipment and financing.
The EU aims to reduce transport emissions by 60% by 2050 and is committed to assisting developing countries like Vietnam in building sustainable transportation systems. Kathleen A. Whimp, Operations Manager for Vietnam at the World Bank, affirmed the organisation’s dedication to supporting Vietnam’s green transport initiatives to meet its net-zero goals.
Vietnam’s focus on urban rail development, including metro systems in Ho Chi Minh City, aligns perfectly with these objectives. The country has already made significant infrastructure advancements, boasting over 24,300 kilometers of national highways, 2,000 kilometers of expressways, 6,800 kilometers of inland waterways, 2,640 kilometers of railways, nearly 300 wharves, and 22 airports. However, investment remains uneven, with road projects receiving the bulk of attention while railway development lags despite its potential.
To expand its transportation network – including high-speed railways and electric rail connections – Vietnam estimates it will need an investment of US$ 151.2 billion by 2030, increasing to US$ 312 billion by 2050.
The Ministry of Transport is actively exploring policies to attract investment in transport infrastructure, focusing on public-private partnerships (PPP) and maximising the use of official development assistance (ODA) funds. These initiatives aim to establish a competitive, international-standard green transport system that aligns with Vietnam’s sustainability goals.
OpenGov Asia reorted that Vietnam has been urged to innovate its growth model by focusing on technology, supporting startups, and transitioning to a green economy. This emphasis on innovation was discussed in a recent meeting chaired by Prime Minister Pham Minh Chinh, who reviewed the 2021-2030 socio-economic development strategy and outlined plans for the 2026-2030 period.
Prime Minister Chinh stressed that while economic development remains a priority, it is essential to revitalise traditional growth drivers and explore new growth avenues that align with the nation’s goals of innovation and integration.
As Vietnam continues its journey toward a greener future, the commitment to developing sustainable transport infrastructure will be key to addressing climate challenges and fostering a more resilient economy.
