Vietnam HCMC Seeks Support from IMF to Develop Green Economy

Mr. Phan Van Mai, chairman of the People’s Committee of Vietnam’s southern economic hub of Ho Chi Minh City, has asked the International Monetary Fund (IMF) to help the city in terms of orientation for economic restructuring, activities in climate change response, and the trend to develop green economy, local media reported.

Mr. Mai made the request when receiving Professor Jochen M. Schmittmann, regional resident representative for the IMF Resident Offices in Vietnam, on September 14.

He proposed the IMF connect the city with experts to share experience in building the legal framework and action plans for carbon credit and emission reduction, as well as discuss the economic and financial fields.

The official hoped that HCMC and the IMF could build a cooperation mechanism to make the city a pioneer and role model for effective collaboration between the organization and Vietnam.

For his part, Mr. Schmittmann affirmed the importance and necessity of developing carbon credit in HCMC, facilitating its strategy toward a green economy. He stated that the IMF will enhance cooperation activities with the city. (Vietnam Plus, hcmcpv.org.vn)