European businesses plan investment expansion in Vietnam
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 Ho Chi Minh City.
The HCM City 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 tonnes 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 HCM City.
The city faces 9,000 tonnes of household garbage, 2,500–3,000 tonnes of industrial production waste and 1,500 tonnes of construction debris daily, among others, according to the HCM City Department of Natural Resources and Environment.