Ho Chi Minh City is working to lure both domestic and foreign green investments. (Photo: VNA) The city has taken actions to join national effortsto achieve the goal of net-zero emission by 2050, with an economic forum themed“Green Growth – Journey to Zero Net Emissions” in September 2023.
Last month, the municipal People’s Committee alsocoordinated with the World Bank (WB) in organising an investment promotionconference for green growth.
Notably, green growth is a focus in the city’splanning orientations for 2021-2030 with a vision towards 2050, along withpolicies, criteria, and models in all sectors.
Under the National Assembly’s Resolution No. 98/2023/QH15on piloting some specific mechanisms and policies for HCM City’s development,the southern metropolis is empowered to untangle knots to its development anddevise mechanisms to attract resources in service of green transition.
Tran Phu Lu, Director of the Investment & TradePromotion Centre of HCM City, said the city will call for more investments in knowledge-intensivesectors and others with high added values and cutting-edge technologies.
In the short term, priority will be given to digitaleconomy, industries based on the Fourth Industrial Revolution,microelectronics, semiconductors, information technology, new materials, and cleanenergy, among others.
In the long run, HCM City will encourage businessesto invest in innovation, and technology absorption and mastery, especially core and source technologies.
At the above-said conference, the working groupbetween HCM City and the WB introduced two very large-scale projects on floodrisk management in Thu Duc city and low-carbon urban area building.
Last year, HCM City issued a plan implementing thegreen growth strategy towards sustainable development by 2030, under which itset the target of attracting investments selectively, focusing on green andhigh-tech projects.
However, the lack of a detailed legal frameworkremains the biggest roadblock to the city’s path towards green growth.
Given this, strengthening public-private cooperationand perfecting the legal framework on green finance and green investment needto be done immediately, experts said./.
VNA
