HCM City, EU countries look towards green, sustainable development

The two sides exchanged views on issues regarding investment attraction, socio-economic development promotion, and cooperation towards green, sustainable development.

Mai stressed that HCM City is very interested in green transition and sustainable development. He reiterated Prime Minister Pham Minh Chinh’s strong commitments at the 26th United Nations Climate Change Conference of the Parties (COP26) in 2021, and said HCM City has identified the target of green and inclusive recovery.

The official briefed his guests on HCM City’s socio-economic situation in 2022, and shared its experience in flexibly and safely adapting to and effectively controlling the COVID-19 pandemic.

He said the city is actively joining major global trends like opening, recovery, socio-economic development, green transition and digital transformation, and is working hard to deliver on the country's climate commitments, especially one on net zero emissions by 2050.

Expressing his hope for stronger cooperation with European partners in such fields as green transition, digital transformation, climate change response, innovation and startup, Mai pledged to make all-out efforts to ensure a stable environment as well as legitimate rights and interests of investors and facilitate the stable, long-term, effective operations of EU firms in the city.

Ambassador Giorgio Aliberti, head of the European Union Delegation to Vietnam, lauded efforts by Vietnam in general and HCM City in particular to overcome difficulties and maintain rapid, sustainable development.

He stressed that HCM City and the Mekong Delta at large play an important role in cutting gas emissions, and promised to support the city in rapid, sustainable development.

The participating ambassadors, consuls general and honorary consuls raised questions relating to the city's needs for investments with the intention of looking for investment opportunities for European firms, focusing on digital transformation, digital technology, big data, renewable energy, wind energy, green transport infrastructure, green logistics, green industrial parks and climate change, among others.

As of August 2022, 25 out of the 27 EU member countries had invested in Vietnam with a total 2,384 projects and a combined capital of 27.6 billion USD, accounting for 6.42% of the total foreign investment in the country, ranking fifth among 139 countries and territories investing in Vietnam.

HCM City alone counted 1,141 projects from the EU worth some 7.94 billion USD, making up more than 10% of the FDI in the city, mainly in processing, manufacturing, wholesale and retail, car and motorbike repairing, and information-communications.