Ho Chi Minh City explores green growth with German partners: Business Forum
A Germany – Vietnam Business Forum, themed “Collaborative pathways to green growth in Ho Chi Minh City”, took place in Ho Chi Minh City on March 28, 2024.
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| At the Germany – Vietnam business forum (Source: VNA) |
The event was co-hosted by the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC), the German Business Association (GBA) in Ho Chi Minh City, and the United Overseas Bank (UOB).
Speaking at the event, ITPC Deputy Director of ITPC Cao Thi Phi Van highlighted Ho Chi Minh City as a vibrant urban area and an economic, cultural and technological hub of Vietnam, contributing 25% to the national budget.
Ho Chi Minh City is home to more than 400,000 active businesses, including nearly 15,000 foreign-invested ones, she said, adding that the city has completed a framework strategy for green growth until 2030, with a vision to 2050, which places citizens and businesses at the centre.
She said the event provides a platform to update European investors, especially those from Germany, about local investment environment and new development mechanisms, thereby tapping investment cooperation potential between Ho Chi Minh City, neighbouring localities and European countries, especially in the fields of green growth, sustainable development and innovation.
GBA Chairman Alexander Ziehe suggested that Vietnam and Ho Chi Minh City in particular should improve policies on finance, administrative procedures, infrastructure, digitalisation, and foreign labour.
Meanwhile, Chairman of the EuroCham Green Growth Sector Subcommittee Erick Contreras advised Vietnam and Ho Chi Minh City to prioritise transparent mechanisms to stimulate investment in energy efficiency, including reducing subsidies for electricity.
He also called for timely and coordinated approaches to maximise the integration of renewable energy sources into the national grid, adding that the city also needs to prioritise the use of eco-friendly construction materials and recycling while building clear urban planning strategies that encompass not only green infrastructure but also water, waste and transportation management.
(Source: VNA)
