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Monday, July 15, 2024

European businesses plan investment expansion in Vietnam

The Saigon Times

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HCMC – European businesses are looking forward to growing operations in Vietnam in a range of sectors, according to the European Chamber of Commerce in Vietnam (EuroCham).

According to a recent EuroCham analysis, half of the enterprises polled remain optimistic about Vietnam’s economic recovery, with 69% intending to expand operations.

Business confidence is expected to rise in the wake of the post-pandemic growth momentum, according to Alain Cany, chairman of EuroCham.

In particular, the environmental conservation sector is regarded as a high-potential investment, particularly in urban areas such as HCMC.

The HCMC Urban Environment Company Limited (CITENCO) recently sought approval for a waste-to-energy project in Cu Chi District, covering 4.15 hectares with a capacity of 1,000 tons per day.

The effort is meant to help the city reach its target of recycling and reusing 80% of its garbage by 2025 and 100% by 2030.

Still, obstacles remain, given the city’s limited capability in the waste processing industry. In addition, daily trash concerns have long posed significant challenges to the development of HCMC.

The city faces 9,000 tons of household garbage, 2,500–3,000 tons of industrial production waste and 1,500 tons of construction debris daily, among others, according to the HCMC Department of Natural Resources and Environment.

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