HCM City (VNA) - The European Chamber of Commerce in Vietnam (EuroCham) has launched its first publication of the EuroCham Greenbook in Vietnam in Ho Chi Minh City.

The first edition of EuroCham Greenbook in Vietnam offers an overview of thebusiness state of affairs related to renewable energy, water and wastetreatment, smart cities and green buildings. It not only introduces businessopportunities, but also raises issues regarding policies and recommendations,to improve the green business environment in Vietnam.

In addition to the success stories of projects run by EuroCham membercompanies, European businesses as well as other foreign investors in Vietnam,the EuroCham Greenbook also introduces prestigious experts in this field fromacross the country.

On this occasion, EuroCham also launched its first Greenbook website in Vietnam, to support the provision of information, especially policy mechanisms andprogrammes to support the European and Vietnamese business communities in theirinvestment and operation activities.

Speaking at the launch ceremony, EuroCham Vice Chairman, Tomaso Andreatta, saidthat Vietnam now sees many domestic and foreign companies providingenvironmental improvement services and products and committed towards asocially responsible business. European businesses in particular are veryinterested in investing in clean energy in Vietnam.

However, according to Andreatta, the administrative procedures related toinvestment licensing in the field of clean energy in Vietnam are quite complexand not as simplified as the businesses’ expectations. 

European businesses have encountered high investment risk because this is atime-consuming industry that requires more time than other sectors to recovercapital, while the mechanism of investment incentives in Vietnam is not strongenough to be a momentum for investors. For example, clean electricity price islow.

Faced with this situation, in the time to come, EuroCham will make manyrecommendations to the Vietnamese Government on necessary measures to promotethe improvement of the investment environment in the field of clean energy,Andreatta said.

Particularly for HCM City to be able to become a smart city, experts said thatthe city’s authorities need to minimise the damage caused by climate change andenvironmental pollution. 

At the same time, the city should step up the programme of action to promoteboth internal and external resources and mobilise funds outside the localbudget, to build a comprehensive and synchronous solution in infrastructure tomeet development needs such as transport, environment, flood control, watertreatment and water use. 

The solution cannot be implemented individually but requires a certain roadmapand the agreement of the business and social communities.-VNA