GREEN GROWTH: THE SUSTAINABLE ECONOMIC GROWTH MODEL

Abstract

The transition of the economic growth model towards a green and sustainableone is a process that requires a reasonable and efficient combination of growth factors. The Vietnam’s economic growth in the period of 2001-2013 created an impression of the economic growth in the economic transition period. The economic growth in the last decade has been mainly in breadth and relied on investment capital and labor expansions. The growth has also relied on natural resources which exacerbated the environmental pollution. This requires Vietnam to change the economic growth model towards a green and sustainable ones. Green growth and green economic development are towards a low-carbon economy, enriching natural resources, reducing emission and increasing greenhouse gases absorption which are an inevitable tendency in the socio-economic development. The green economy enhances the living quality, social equality and significantly reduces the environmental risks and ecological scarcity. This is a new economic model which has a low emission level, uses natural resources efficiently and towards a social equality.