German firms keen to invest in sustainable, green projects in Vietnam

Ziehe told the Germany-Vietnam Business Forum that green growth has a pivotal role in creating novel economic prospects and enhancing business competitiveness.

He emphasised the rise of innovative business models and technologies, alongside the evolution of supply chains, as key drivers in advancing Vietnam’s economic development.

Ziehe called for strategic policy improvements in financial, administrative, infrastructural, digital and labour sectors to facilitate technological progress and raise industry standards, a GBA release said.

The forum, with the theme ‘Collaborative pathways to green growth in Ho Chi Minh City’, was a collaborative initiative 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 that Vietnam and Ho Chi Minh City adopt clear mechanisms to encourage energy-efficient investments, such as reducing electricity subsidies.

He urged for prompt and cohesive strategies to integrate renewable energy into the national grid effectively.

Contreras also highlighted the necessity for eco-friendly building materials, recycling and comprehensive urban planning that includes green infrastructure, water, waste and transportation management.

Fibre2Fashion News Desk (DS)