HCMC leaders met with 100 CEOs of leading corporations on green economy

CEO 100 Tea Connect is within the framework of the Ho Chi Minh City Economic Forum 2023 (HEF), and for the first time ever, the People’s Committee of Ho Chi Minh City (HCMC) organized the event in the form of a “tea party”.

CEO 100 Tea Connect is inspired by the 600 CEO model of the World Economic Forum (WEF) - a tea party for members of "World Economic Forum Partners" to together discuss world issues. For the opening, HCMC welcomed the guests by having them enjoy three special types of Vietnamese tea as a way to introduce Vietnam’s quality tea products to international friends.

According to Chairman of Ho Chi Minh City People's Committee Phan Van Mai, HCMC is a large city of over 10 million people, the economic, cultural, educational, science and technology center of Vietnam. However, this city is facing many challenges, for example, climate change, traffic congestion, lack of workforce, and impacts of the socio-economic cycle.

The city is restructuring its economy, identifying green economy as the driving force for sustainable growth and development in the future. HCMC sets out a green development strategic framework until 2030 with vision toward 2050, taking people and businesses as the center of transformation. Its focus identifies 4 contents: green resources (qualified workforce), green finance and international cooperation; green infrastructure; green behavior (green consumption, green transportation and construction); green transformation industries (high-tech manufacturing, green startups, innovation, tourism, agriculture).

Resolution 98 states that Ho Chi Minh City can pilot carbon credit transactions. The ultimate goal is to construct Can Gio as a district with zero plastic waste, develop green tourism in Can Gio, and pilot carbon credit with Can Gio forest to make it a local advantage.

Ho Chi Minh City is therefore in need of sharing and recommendations of experts and leaders on green energy conversion particularly in green transportation, waste and wastewater treatment, and carbon credits as the city aims to transform Can Gio district into a green locality.

Ho Chi Minh City is one of Vietnam’s biggest innovative start-up centers with aspirations to build a regional innovation hub in service of green economy and green development. The problem lies in the institutional framework, policies, models and methods to realize these aspirations.

"The thousand-mile journey starts with the first steps. We believe that we are here to take that first step. HCMC is looking forward to specific initiatives from the delegates and hopes to continue cooperating in the green journey, the future of sustainable development," said Chairman Phan Van Mai.

At CEO 100 Tea Connect, Ricardo Valente, Councilor for Finance, Economy, and Employment, Porto City (Portugal), said that Vietnam has favorable conditions to develop green environment in the heart of cities.

In order to develop green growth effectively, he believed that the city needs to create a circulating business spirit, as well as pose challenges for businesses to meet the requirements of the city, especially start-ups. Businesses with effective solutions will be chosen as a spearhead for the city’s green development.

"The local government is the largest consumer in society, so it will pioneer the use of green products, thereby creating motivation for businesses to produce green products,” he said, adding that Porto has built an environmental index and tax exemption policies for companies that meet these indicators. This city also develops an energy center to serve its citizens, provides assistance in building green houses and meeting environment-safety criteria.

Gabor Fluit, Chairman of the European Chamber of Commerce in Vietnam (EuroCham), affirmed that the green agreements of the European Union, or the carbon border adjustment mechanism (CBAM) all aim at the net-zero target in 2050.

EuroCham is ready to provide support through technology transfer, model sharing, and capacity building for projects so that Ho Chi Minh City can become a strong export center for the EU. According to Chairman Gabor Fluit, EuroCham will hold a grand event in November with the participation of the European Commission and the Dutch government so that businesses can discuss solutions to relieve pressure from the new EU regulations and also help Vietnam achieve sustainable development goals.