Sustainable Growth in Emerging Economies: The Role of Green Economy Policies in Vietnam

Abstract

The research highlights the urgent need to balance economic development with environmental sustainability in Vietnam's rapidly growing economy by examining the impact of green economic policies on sustainable growth. Using a mixed methods approach, the study collected data from 350 experts across major Vietnamese cities. The analysis revealed that five policy areas, including renewable energy, natural resources and environmental management, green technology innovation, green finance, and sustainable agriculture, are crucial for sustainable growth, with green technology innovation and natural resources and environmental management having the greatest impact. The study revealed a strong explanatory power of the model, suggesting that these policies explain 78.2% of the variance in sustainable growth. These findings offer a solid empirical foundation for improving Vietnam’s green economic strategies, providing valuable insights for policymakers in Vietnam and other developing countries moving toward sustainable growth amid climate change and resource limitations.