German companies eager to invest in Vietnam’s sustainable development projects

During the Germany-Vietnam Business Forum, Alexander Ziehe, chairman of the German Business Association (GBA), revealed that several German companies are keen to invest in sustainable development projects in Vietnam, aligning with green policies and the goal of achieving net-zero carbon emissions.

Ziehe emphasized the crucial role of green growth in fostering new economic opportunities and enhancing business competitiveness. He highlighted the emergence of innovative business models and technologies, alongside the transformation of supply chains, as key drivers for Vietnam’s economic advancement.

To support this growth, Ziehe called for strategic policy improvements across various sectors, including financial, administrative, infrastructural, digital, and labor, to facilitate technological progress and elevate industry standards.

The forum, themed ‘Collaborative Pathways to Green Growth in Ho Chi Minh City’, was a joint effort between GBA, the Ho Chi Minh City Investment and Trade Promotion Centre (ITPC), and the United Overseas Bank (UOB).

Erick Contreras, chairman of the EuroCham green growth sector sub-committee, recommended clear mechanisms to incentivize energy-efficient investments, such as reducing electricity subsidies. He stressed the importance of prompt and cohesive strategies to integrate renewable energy into the national grid effectively.

Contreras also underscored the need for eco-friendly building materials, recycling initiatives, and comprehensive urban planning encompassing green infrastructure, water management, waste management, and transportation.

The collaboration between German and Vietnamese entities reflects a shared commitment to sustainable development and green growth, paving the way for mutually beneficial investments and advancements in Vietnam’s environmental and economic landscapes.