(TITC) - On 28th March 2024, the Investment & Trade Promotion Centre of Ho Chi Minh City (ITPC) coordinated with the German Business Association in Ho Chi Minh City and United Overseas Bank (UOB) to organise Germany - Vietnam Business Forum “Collaborative Pathways to green growth in Ho Chi Minh City”.
Delegates attending the Forum (Photo: dangcongsan.vn)
Ho Chi Minh City is a vibrant city and the economic - cultural - science and technology centre of Vietnam. The city has a stable growth rate, contributing more than 16% of GDP, contributing 25% to the national budget.
With a mechanical population of more than 10 million people, more than 400,000 active businesses, including nearly 15,000 foreign-invested enterprises are investing and doing business in the City, and the middle class is also growing, showing that Ho Chi Minh City's economy has recovered quickly, synchronously and is relatively stable.
The city always determines its pioneering role and mission in implementing specific strategies and solutions, focusing on developing high technology, chips, semiconductors, digital economy, green economy, etc. 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. These solutions not only apply to Ho Chi Minh City but are also test models for 36 provinces and cities to cooperate in socio-economic development, including provinces in the Central Highlands region to research and apply locally. As the locality with the largest economic scale, contributing one-fifth of national GDP, Ho Chi Minh City is considered the best place to test policies to promote green economy and circular economy thanks to its urban characteristics, population size and economic dynamism.
Ms. Cao Thi Phi Van, ITPC’s Deputy Director speaking at the Forum (Photo: dangcongsan.vn)
Speaking at the event, Deputy Director of ITPC Cao Thi Phi Van highlighted, 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; at the same time, create conditions for Vietnamese businesses to meet, connect and promote trade cooperation in the future with European businesses.
The forum is a opportunity for City leaders, departments and branches to listen to sharing and lessons learned in Germany's green economic development; thereby, the City to complete the "Green Development Strategic Framework to 2030 with a vision to 2050" and related policies in the roadmap to building a green economy as well as upcoming implementing action programmes. Ho Chi Minh City will continue to make efforts to always be an attractive destination and opens up many cooperation opportunities for European businesses in general and German businesses in particular, helping the two sides further promote cooperation potential in the future.
GBA Chairman Alexander Ziehe said, green growth opens up new opportunities for the economy and businesses to enhance competitiveness. New business models are being implemented, new technologies are emerging, and entire supply chains are transforming. This creates growth for businesses in Vietnam by promoting low-carbon goods and services, exploring new markets and supporting partners in going green. However, there are still challenges in Vietnam and Ho Chi Minh City as rapid urbanisation due to population growth is affecting nature, agriculture and energy in particular. To support new technology and raise standards, policies and improvements in finance, administrative procedures, infrastructure, digitalization and foreign labours need to be improved.
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