Australia and Vietnam are strengthening their green and sustainable development cooperation through new agreements and programs. Vietnam’s green economy has significant potential due to its growing middle class, thriving business scene, and favourable natural resources for green energy production. This cooperation aligns with both countries’ national goals.
Vietnam aims to achieve net-zero emissions by 2050, while Australia plans to reduce its economy’s reliance on coal and gas exports. Despite challenges in Vietnam’s energy transition, including the need for substantial investment to meet its electricity demand by 2030, the expansion in climate cooperation opens new opportunities for Australian businesses to invest in Vietnam’s green economy.
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