Green economy - Ho Chi Minh City's new growth pole.

Following the success of the Forums in 2018, 2019, and 2022, Ho Chi Minh City is organizing the fourth Ho Chi Minh City Economic Forum in 2023 (HEF 2023) with the theme “Green Growth – A Journey Towards Net Zero Emission Reduction” from September 13-17.

TP. Hồ Chí Minh đã và đang chọn cách tiếp cập khác, hướng suy nghĩ khác trong hơn một năm phục hồi sau đại dịch Covid-19, trong đó có hướng phát triển xanh. Ảnh minh họa.

Ho Chi Minh City has been choosing a different approach and a different way of thinking in its recovery from the Covid-19 pandemic for over a year, including a green development direction. (Illustrative image)

Despite a remarkable growth rate of 5.87% in the second quarter of 2023, following a mere 0.7% increase in the first quarter, the city's economy still faces numerous difficulties and challenges due to a lack of new growth drivers. Furthermore, increasing issues such as environmental pollution, flooding, and air pollution are also impacting the quality of growth.

In this context, Ho Chi Minh City leaders have identified green transformation as a key driver of growth in the coming period. This will not only support the city's sustainable development but also contribute to the government 's commitment to achieving net-zero emissions by 2050.

New growth drivers

According to the Chairman of the People's Committee of Ho Chi Minh City, Phan Van Mai, with the internal problems the city is facing, such as declining growth momentum and climate change, if it does not transition to a green economy and does not have specific long-term policies, Ho Chi Minh City's economy will certainly lack new competitiveness and will not be able to contribute effectively to the national economy. Along with this understanding, Ho Chi Minh City has identified its mission as a leading locality, undertaking the biggest tasks in green transformation and sustainable development, contributing to fulfilling national commitments in international cooperation.

At the end of 2022, the Politburo issued Resolution No. 31-NQ/TW on the direction and tasks for the development of Ho Chi Minh City until 2030, with a vision to 2045, and recently the National Assembly issued Resolution 98/2023/QH15.

In particular, the official entry into force of Resolution 98/2023/QH15 at the beginning of August 2023 has opened up several specific mechanisms to support Ho Chi Minh City in its green transformation process; including the development of rooftop solar power on public buildings (hospitals, schools, etc.); attracting strategic investors in renewable and green energy projects; and piloting a financial mechanism for carbon credit exchange and offsetting…

Dr. Truong Minh Huy Vu, Deputy Director of the Ho Chi Minh City Institute for Development Research, noted that the policy group on green economy and green transformation is one of the noteworthy new points in Resolution 98/2023/QH15. This is also a policy group that he and the Ho Chi Minh City Institute for Development Research highly appreciate and wish to promote to create new growth drivers for the city in the coming period.

Ho Chi Minh City has experienced rapid growth over the past 10 years, but the growth rate is no longer at the expected double-digit levels. Therefore, the city has been adopting a different approach and mindset during its more than one year of recovery from the Covid-19 pandemic; this includes a green development strategy.

Currently, the Ho Chi Minh City Institute for Development Research and the Institute for Circular Economy Development (ICED) under the Vietnam National University Ho Chi Minh City are developing a roadmap for green economic development for the city. Accordingly, the plan on the orientation of industrial development in Ho Chi Minh City until 2030, proposed by the Institute for Development Research, also identifies the pilot conversion of 5 out of 17 industrial zones towards a greener approach.

Furthermore, Ho Chi Minh City is piloting a program to develop the Can Gio area into a model net-zero (carbon-neutral) urban area by 2030. This is expected to create new growth momentum for the city after a period of stagnation; and at the same time contribute to fulfilling national commitments in international cooperation.

The Ho Chi Minh City Economic Forum (HEF) 2023 revolved around themes such as: Trends in green growth and circular economy development for megacities like Ho Chi Minh City; Building an ecosystem for the circular economy model in the context of aiming for zero emissions; Policies in building green growth towards zero emissions and the mission of businesses; Resources in developing a circular economy towards zero emissions and the mission of businesses; Lessons and experiences from around the world promoting green growth and the circular economy; The current situation of Ho Chi Minh City and solutions in the process of applying the green growth model.

Change from awareness to action.

Following the success of the Forums in 2018, 2019, and 2022, Ho Chi Minh City will continue to organize the fourth Ho Chi Minh City Economic Forum in 2023 (HEF 2023) with the theme "Green Growth - A Journey Towards Net Zero Emissions" from September 13-17.

Through this Forum, Ho Chi Minh City aims to find feasible solutions to promote green development and a circular economy in the city in particular and the whole country in general. At the same time, this is also an opportunity for the city to meet and exchange ideas with international ministries, agencies, and localities to deepen relations between Ho Chi Minh City, Vietnam, and international partners, and to propose specific short-term, medium-term, and long-term collaborations.

Through this Forum, the City aims to be a gathering place for major domestic and international businesses and corporations interested in investing in and developing Ho Chi Minh City and Vietnam, thereby sending the message "Ho Chi Minh City, Vietnam always welcomes you".

In its green growth strategy, the Ho Chi Minh City People's Committee has identified businesses as the decisive force for the success of green transformation. Building and developing a green economy in Ho Chi Minh City requires significant resources and determination from all parties, especially the coordination of government agencies and businesses, including both state-owned and private enterprises.

Therefore, solutions, policies to support businesses, and recommendations for the green transformation process in Ho Chi Minh City are expected to be discussed by management agencies and experts at the HEF 2023 series of events. These solutions will aim to support businesses in accessing green finance to transform production, access markets, and achieve sustainable development.

According to Vice Chairman of the Ho Chi Minh City People's Committee Vo Van Hoan, the choice of this year's Forum theme is consistent with the city's orientation in implementing the government's goals as committed at the 26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP 26). The content of the Forum reflects the city's goals and efforts towards green growth to meet the demands of the world in the new situation.

As a major economic center and the economic engine of the country, the city requires a shift in awareness and new knowledge regarding green economy and green growth throughout the political system, businesses, and the people. This will lead to appropriate solutions and actions for the sustainable growth of the city.

“Green growth and a green economy are inevitable trends in the global economy; therefore, the city itself and the business community will have to change from awareness to action to integrate and adapt to that trend. Thus, through HEF 2023, the leaders of Ho Chi Minh City will also convey a strong message on this issue,” the Vice Chairman of Ho Chi Minh City emphasized.

Within the framework of the Forum, there will be a program on "Bilateral Economic Cooperation between Vietnam and the Flanders Region - Kingdom of Belgium on building sustainable cities and adapting to climate conditions"; the announcement of the cooperation program between Ho Chi Minh City and the World Economic Forum (WEF); a program where city leaders meet with ministries, localities, and international experts; and the "CEO 100 Tea Connect" program connecting city leaders with VIP guests and 100 CEOs from Vietnam and internationally; talk shows by domestic and international experts and speakers; direct interaction between international experts and students and businesses; and a sightseeing program for international guests...

The HEF 2023 event series also includes an exhibition space showcasing green growth products and services on Nguyen Hue pedestrian street (officially open to the public and tourists from September 13-17); and the awarding ceremony for "Green Enterprises" to businesses in the city that have projects, products, services, or ideas that have applied or are applying green growth and sustainable development models.

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