E-Mobility, Green Financing on Show at Eurocham Green Economy Forum and Exhibition
- E-mobility could be very successful in Vietnam with the right support.
- Green financing will be key to a cleaner Vietnamese economy.
- The hydrogen fuel market in Vietnam may hold opportunities for foreign investors.
**Dezan Shira and Associates was an in-kind sponsor of this event and is the owner of the Vietnam Briefing.**
The European Chamber of Commerce in Vietnam (Eurocham) officially wrapped up its Green Economy Forum and Exhibition (GEFE) in Ho Chi Minh City, Wednesday, after three days of seminars and conferences.
The event saw hundreds of business owners and thought leaders discussing Vietnam’s transition to a cleaner economy and went off without any noticeable hitches.
“My first impression was that Eurocham did a great job with the event organization,” said Filipo Scaglia, Senior Associate, with Dezan Shira and Associates.
“Everything was efficiently planned and seemed in order, or under control anyway, and I did not encounter any issues accessing the building, registration or anything else,” he said.
“I believe it worked as a great introduction to Vietnam, as a country for potential investments or trades, for foreigner visitors,” he went on to say.
Scaglia attended the first day of the event alongside a number of VIPs including: Pham Minh Chinh, Prime Minister of the Socialist Republic of Vietnam; Giorgio Aliberti, European Union Ambassador to Vietnam; and Carolyn Turk, Country Director for the World Bank in Vietnam.
The event, which concluded November 30, had more than 150 exhibitors presenting the latest green solutions and innovations. Among the exhibitors were multinationals, some of Vietnam’s top enterprises, start-ups, SMEs, and other organizations from Europe, Vietnam, and around the region.
This was coupled with more than 30 conference sessions and panel discussions, with more than 150 expert speakers from over 20 different green sectors. Among the topics discussed were: the circular economy, green tourism, renewable energy, smart cities, sustainable agriculture, and water treatment.
E-mobilty in Vietnam seminar highlights opportunities, challenges
Panelists at the seminar came from a selection of high-profile companies in the e-mobility sector including Vinfast, Audi, Porsche, and KPMG.
The panelists covered the industry broadly and noted Vietnam’s potential as a market for EVs–its booming middle class and rising awareness among young people of environmental issues driving interest in the field.
“However, what was more interesting was the frank discussion on the barriers to entry for the auto sector in Vietnam,” Samuel said.
The high price, regulatory issues, a lack of universal charging stations, and a lack of charging stations more generally were all listed as key obstacles the EV market faces, he said.
Green financing key to a cleaner, greener Vietnam
Alexiane Monier, Associate, ASEAN Business Advisory, at Dezan Shira and Associates, however, was keen to see what France had on offer at the forum, and she was not disappointed.
“I was really impressed to see how imposing the French Pavilion was,” she said.
In particular, she was pleased to see Climate Fresk had its own stand.
Climate Fresk is a French NGO that was established in 2018 to raise awareness and bring people and organizations on board with the transition to a cleaner, greener climate.
More broadly, however, she said her focus at the event was on green financing.
“For us, the transition to a green economy will not be feasible and practical without private entities and banks funding projects and local initiatives. Fortunately, there were a number of green-funding providers on hand,” she said. “This was a plus for the forum.”
“We had lots of opportunities to speak with stakeholders from the green financing sector, which is crucial to facilitating a faster transition to a greener economy,” she went on to say.
“We also briefly discussed green hydrogen, and although it’s becoming very big in Europe and the US, it not quite as big in Asia yet, which – we think – could be an opportunity for foreign investors. It’s safer than nuclear energy, and definitively greener than fossil fuels,” she said.
The transition to a greener and cleaner economy has become incredibly important in Vietnam. At COP26 last year, the burgeoning Southeast Asian nation announced it would target net-zero emissions by 2050. This is a big commitment for an emerging market and will require extensive work from government and industry.
There is, however, a growing appetite for change with Vietnam `being one of the countries most exposed to sea level rises in the world. Residents of Vietnam’s biggest cities are also growing increasingly concerned about air pollution, and the health implications that come with it. Hanoi, in particular, is often listed among the top 10 cities for the worst air pollution in the world.
For more on Vietnam’s carbon commitments see: COP27: Vietnam’s Net Zero Commitment One Year On
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Dezan Shira & Associates provide business intelligence, due diligence, legal, tax and advisory services throughout the Vietnam and the Asian region. We maintain offices in Hanoi and Ho Chi Minh City, as well as throughout China, South-East Asia, India, and Russia. For assistance with investments into Vietnam please contact us at email@example.com or visit us at www.dezshira.com
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