The European Chamber of Commerce in Viet Nam (EuroCham) officially launched its first publication of the EuroCham Greenbook in Viet Nam on Thursday in HCM City.

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

In addition to the success stories of projects run by EuroCham member companies, European businesses as well as other foreign investors in Viet Nam, the EuroCham Greenbook also introduces prestigious experts in this field from across the country.

On this occasion, EuroCham also launched its first Greenbook website in Viet Nam, to support the provision of information, especially policy mechanisms and programmes to support the European and Vietnamese business communities in their investment and operation activities.

Speaking at the launch ceremony, EuroCham Vice Chairman, Tomaso Andreatta, said that Viet Nam now sees many domestic and foreign companies providing environmental improvement services and products and committed towards a socially responsible business. European businesses in particular are very interested in investing in clean energy in Viet Nam.

However, according to Andreatta, the administrative procedures related to investment licensing in the field of clean energy in Viet Nam are quite complex and not as simplified as the businesses’ expectations.

European businesses have encountered high investment risk because this is a time-consuming industry that requires more time than other sectors to recover capital, while the mechanism of investment incentives in Viet Nam is not strong enough to be a momentum for investors. For example, clean electricity price is low.

Faced with this situation, in the time to come, EuroCham will make many recommendations to the Vietnamese Government on necessary measures to promote the 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 that the city’s authorities need to minimise the damage caused by climate change and environmental pollution.

At the same time, the city should step up the programme of action to promote both internal and external resources and mobilise funds outside the local budget, to build a comprehensive and synchronous solution in infrastructure to meet development needs such as transport, environment, flood control, water treatment and water use.

The solution cannot be implemented individually but requires a certain roadmap and the agreement of the business and social communities. — VNS