Is Ho Chi Minh City going green?

Thursday, January 25, 2024

Ho Chi Minh City is actively seeking to revolutionize its approach towards a greener, more sustainable future, emphasizing the need for public investments in innovative and international collaborations. This was the key message delivered by Phan Van Mai, Chairman of the city’s People’s Committee, at a recent conference focused on the city’s green growth, held on January 24.

Mai highlighted that Ho Chi Minh City, Vietnam’s largest economic center, is alarmingly one of the top 10 global cities severely impacted by climate change. He referenced a study from the Vietnam National University – HCM City’s Institute of Environment and Natural Resources, revealing that the city’s greenhouse gas emissions surpass 60 million tonnes of CO2 annually.

In response to these environmental challenges, the city has embraced green growth as its primary development strategy. Mai emphasized that this approach is vital not just for economic growth but also for ensuring environmental sustainability and social equity. A significant goal set by the city is to reduce greenhouse gas emissions by 10% by 2030.

Carolyn Turk, the World Bank’s Country Director for Vietnam, who also spoke at the conference co-organized by the city and the World Bank, underscored the urgent need for HCM City to devise an effective strategy to meet this target. She pointed out the considerable risks the city faces from climate change and persistent flooding, which lead to average annual economic losses of around 250 million USD, a figure expected to rise each year.

Turk suggested that the city should create incentives to motivate private sector participation in its transition to greener practices. She affirmed the World Bank’s commitment to assisting HCM City in both reducing emissions and accessing financial resources.

During the event, the municipal People’s Committee introduced 28 projects open for investment. These projects span various sectors including high-tech, finance, commercial center development, transport infrastructure, and wastewater treatment, reflecting the city’s comprehensive approach towards a sustainable and resilient future.

This strategic shift by Ho Chi Minh City to focus on green growth and sustainable development, coupled with its call for international cooperation and public investment, marks a significant step in addressing the challenges posed by climate change, offering potential for both economic growth and environmental conservation.

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