Ho Chi Minh City leaders talk about green growth action plan with 14 main task groups

The green growth model will help Ho Chi Minh City minimize negative impacts on the environment, improve quality of life and attract investment resources.

Mr. Nguyen Van Dung, Vice Chairman of Ho Chi Minh City People's Committee - Photo: MH

Green growth is the inevitable choice

Speaking at the forum "HCMC - Removing obstacles for green economy" organized by the HCM City Law Newspaper this afternoon, December 6, Vice Chairman of the HCM City People's Committee Nguyen Van Dung said that with its role as an economic, scientific and technological center, and international exchange gateway of the whole country, HCMC is completing the green development strategy framework until 2030, with a vision to 2050.

This green development strategy framework includes four contents: developing green resources; building green infrastructure; developing green behavior; identifying pioneering industries and fields.

"I think building a green economy and a circular economy is an inevitable choice to both meet growth requirements and contribute to ensuring a healthy living environment for Ho Chi Minh City residents and for sustainable development," said Mr. Nguyen Van Dung.

Ho Chi Minh City People's Committee has just issued a green growth action plan for the period 2024 - 2030.

With this plan, Ho Chi Minh City has proposed 14 main groups of tasks including green finance, high-quality human resources, green connectivity, green energy, clean water and water circulation, material circulation, and green consumption.

There are also green transportation, green and energy-saving buildings, green science and innovation startups, urban green areas and green agriculture, and the green Can Gio ecosystem.

Ho Chi Minh City can approach circular economy on 4.0 platform

Experts discuss the topic of Removing obstacles for green economy this afternoon - Photo: MH

Vietnam is witnessing an important shift in the field of circular economy and green finance, with promising potentials and challenges.

According to Associate Professor Dr. Nguyen Hong Quan, Director of the Circular Economy Institute, Ho Chi Minh City is aiming to develop a circular economy model based on 4.0 technology and innovation. The city focuses on developing projects such as green buildings, urban renovation, recycling construction materials, developing renewable energy and high-tech agriculture.

Ms. Nguyen Thi Viet Ha, acting chairwoman of HOSE, emphasized the role of green finance in attracting investment capital. Green finance is no longer limited to environmental enterprises but has expanded to many industries, bringing great opportunities for Vietnamese enterprises.

Figures from the State Bank show impressive growth. From 2017 to 2023, green credit balance grew by an average of over 22% per year. As of March 2024, there were 47 credit institutions with outstanding loans of nearly VND637,000 billion, mainly concentrated in the renewable and clean energy sectors.

An IFC report estimates that Vietnam's climate investment opportunities could reach $757 billion by 2030, focusing on energy, transport and green construction.

However, for sustainable development, Dr. Bui Duy Tung from RMIT University Vietnam believes that it is necessary to build a clear legal framework and synchronous green classification criteria. He proposed establishing a National Green Finance Council to coordinate and monitor programs, creating a platform for dialogue between management agencies, businesses and financial institutions.

According to Dr. Bui Duy Tung, Vietnam needs to increase its ability to mobilize international capital to finance large-scale green projects. Access to global funds such as the Green Climate Fund is still limited due to a lack of transparency and a lack of a project portfolio that meets international standards.

The government needs to focus on building model projects that meet international standards, while using technology like blockchain to track and make capital flows transparent.

Source: https://tuoitre.vn/lanh-dao-tp-hcm-noi-ve-ke-hoach-hanh-dong-tang-truong-xanh-voi-14-nhom-nhiem-vu-chinh-20241206185049188.htm