Ho Chi Minh City has strategically chosen green growth as its future development path, actively seeking funding for nearly 30 priority projects aimed at achieving both economic prosperity and environmental sustainability.
The city is keen on promoting innovative initiatives and fostering international collaboration. During a green investment promotion conference held in collaboration with the World Bank last week, officials announced their intention to encourage private investment in order to transition towards a greener and more sustainable economy.
The Ho Chi Minh City People’s Committee has outlined a list of 28 projects seeking investment to drive green growth. Among these, three high-tech manufacturing projects in electronics and semiconductors require over $178 million in funding. Additionally, the city is inviting investments for a data center project valued at over $300 million.
The metropolis is also actively seeking investments for research and development projects in electronics and semiconductors, amounting to approximately $8.7 million, along with supporting industrial production projects incorporating high technology, totaling $14.3 million.
Furthermore, there are projects dedicated to upgrading and expanding major routes, including National Highway 13, National Highway 22, Thu Thiem 4 Bridge, Can Gio Bridge, and Ho Chi Minh City-Moc Bai Expressway.
In addition to infrastructural projects, Ho Chi Minh City is actively seeking funds for projects related to wastewater treatment, environmental improvement, and urban embellishment.
Recent research from the Institute of Environment and Natural Resources at Ho Chi Minh City National University revealed that the city annually emits around 60 million tonnes of CO2, primarily from industrial production, traffic, and daily activities. Simultaneously, the city faces challenges related to climate change, environmental pollution, resource scarcity, and economic crises.
Ho Chi Minh City and The World Bank established a joint working group two years ago, yielding positive outcomes such as a $650 million investment package for a 10-year program, an investment scheme for public asset upgrades, and an integrated flood management initiative.
The World Bank remains dedicated to assisting Ho Chi Minh City in accessing financial resources and attracting foreign investments to reduce carbon emissions. The carbon credit market is identified as a promising resource, and there is optimism that Ho Chi Minh City can participate in the voluntary carbon market.
