Ho Chi Minh City is inviting investments in 28 projects valued at approximately VND160 trillion (over $6.7 billion) with a focus on green growth objectives. These projects were presented at a conference held on January 24 at Lotte Hotel.
The city is actively seeking investor involvement in six projects centered around research and development, electronics, semiconductors, high-tech supporting industries, and data centers. Additionally, there are four wastewater treatment plant projects and various initiatives to revitalize canals, as well as upgrade or construct new bridges, roads, and apartment buildings.
Phan Van Mai, Chairman of Ho Chi Minh City People’s Committee, highlighted two priority projects: the The Duc city waterlogging management project and the low-carbon program.
“Waterlogging management is a substantial and pressing project essential for further expansion,” stated Mai. The first phase comprises three components: a flood information system, a wastewater treatment plant with an 80,000 cubic meters per day capacity, and 30km of open canals, underground piping, along with other associated tasks.
Research from the Institute of Environment and Natural Resources at Vietnam National University in Ho Chi Minh City indicates that the city emits over 60 million tonnes of CO2 annually, primarily from industrial activities (nearly 20 million tonnes) and transportation (over 13 million tonnes), with the remainder from residential and other activities.
The city grapples with challenges arising from climate change, environmental pollution, resource shortages, and economic difficulties.
Consequently, the economic hub of the country has adopted green growth as its development strategy, aiming to reduce emissions by 10 percent by 2030.
Doan Manh Thang, director of Water and Urban Planning at HaskoningDHV Vietnam, part of the Ho Chi Minh City Planning Consultancy Consortium, outlined the scenario for the city’s feasible economic development. The target is an average GDP growth of 8.3 percent per annum from 2021 to 2030, with a projected population of nearly 12 million by 2030.
“This requires an estimated investment of $316 billion by 2030, with 25 percent from the budget, to develop a green and sustainable economy and society,” Thang remarked, recommending a focus on investments in high-tech industries, financial services, tourism, logistics, and modern retail.
The World Bank estimates Ho Chi Minh City’s annual economic losses due to flooding at $250 million, but this figure could escalate beyond $300 million.