Ms. Carolyn Turk, World Bank Country Director for Vietnam (Photo: VNA)

The forecast was made in the WB's economic update for Vietnam that was released during a press teleconference in Hanoi on Thursday.

The report argued that greening the trade sector should be a priority. Trade, while an important driver of Vietnam’s remarkable economic growth over the past two decades, is carbon-intensive - accounting for one-third of the country’s total greenhouse gas emissions - and polluting.

Carolyn Turk, World Bank Country Director for Vietnam, said, “Promoting greener trade will not only help Vietnam follow through on its pledge to reach net zero emission in 2050 but will also help it keep its competitive edge in international markets and ensure that trade remains a critical income and job generator.”

The report recommended that the Vietnamese Government act on three fronts: facilitate the trade of green goods and services, incentivize green foreign direct investment, and develop more resilient and carbon-free industrial zones.