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).

At the Germany – Vietnam business forum (Photo: VNA)

Speaking at the event, ITPC Deputy Director 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 center.

ITPC Deputy Director Cao Thi Phi Van affirmed the event provides a platform to update European investors, especially those from Germany, about the local investment environment and new development mechanisms, thereby tapping investment cooperation potential between Ho Chi Minh City, neighboring 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, digitalization, and foreign labor.

Meanwhile, Chairman of the EuroCham Green Growth Sector Subcommittee Erick Contreras advised Vietnam and Ho Chi Minh City to prioritize transparent mechanisms to stimulate investment in energy efficiency, including reducing subsidies for electricity.

He also called for timely and coordinated approaches to maximize the integration of renewable energy sources into the national grid, adding that the city also needs to prioritize 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.

Green growth is likely to open up new opportunities for the economy and enterprises in Vietnam through promoting low-carbon goods and services investments, exploring new markets, and supporting partners for green initiatives.

In addition, German businesses have had advantages of technology, green finance, and experiences in green economic development so investment growth in green development will be a significant opportunity.