Vietnam, Netherlands eye further cooperation in sustainable development

HANOI, 31st January, 2023 (WAM) -- Sharing natural similarities, Vietnam and Netherlands have beefed up their sustainable development partnership in sustainable agriculture, water management, and climate change adaptation, the Vietnam News Agency (VNA) quoted Dutch Ambassador to Vietnam Kees van Baar as saying.

Agriculture plays a pivotal role in the economies of Vietnam and the Netherlands and is deeply imprinted in the culture and people of the two countries, the diplomat told Dau tu (Vietnam Investment Review).

According to the Dutch Ambassador, close cooperation between the two sides has resulted in new visions, as well as the blooming of business cooperation, with a growing number of Dutch companies doing business and investing in Vietnam.

The Netherlands is the largest European investor in Vietnam. Dutch businesses, with their investments and their innovative and sustainable operations, actively contribute to Vietnam’s progress, he said.

“But even more significant, Vietnamese companies setting up businesses in the Netherlands as well,” he said.

Regarding the two countries’ cooperation in green trade, Kees van Baar said that both Vietnam and the Netherlands are delta countries and therefore vulnerable to rising sea levels resulting from climate change.

The countries also share the same ambition to become climate neutral in 2050 by reducing their greenhouse gas emissions.

Currently, the EU is developing and implementing new rules and regulations to support its climate ambitions, like the Carbon Border Adjustment Mechanism and Corporate Sustainability Due Diligence Directive.

These new mechanisms will become effective in the coming years and will modernise and strengthen the rules for imports to the EU markets regarding environmental, social, and governance (ESG) criteria, he said.

For companies exporting from Vietnam to the EU or being in the supply chain of an EU company, this means that there will be strong incentives to invest in ESG reporting to enjoy low tariffs and easy access to EU markets, he added.

Regarding the two countries’ hi-tech cooperation, the Ambassador said that the Netherlands is a small country in terms of area, but it is the 15th largest economy in the world.

The Netherlands has a rich history of entrepreneurial innovation with world-famous inventions, ranging from microscopes and telescopes to CDs and DVDs, as well as Bluetooth and Wi-Fi.

During his visit to the Netherlands last December, Vietnamese Prime Minister Pham Minh Chinh visited the world-leading production and knowledge economy of the province of North Brabant and the Brainport region in and around the city of Eindhoven.