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Vietnam Today

Sustainable economic alliance between L.A.'s business groups and HCMC founded

Released at: 07:55, 04/08/2018

Sustainable economic alliance between L.A.'s business groups and HCMC founded

Photo: Amcham

New partnership designed to drive economic growth and deliver environmental benefits.

by Hong Nhung

The Los Angeles Business Council (LABC), the American Chamber of Commerce in Vietnam (AmCham), and the Vietnam Chamber of Commerce & Industry in Ho Chi Minh City (VCCCI-HCMC) signed a memorandum of understanding (MoU) a few days ago for an alliance designed to promote economic development through collaboration and information sharing in the areas of solar energy generation, infrastructure development, and sustainable investment activities in Ho Chi Minh City.

The organizations recognize the importance of meeting the energy infrastructure demands of their growing populations and that they must do so in a manner that effectively addresses the challenges of climate change. Ho Chi Minh’s population is expected to increase to 13.9 million by 2025 and L.A.’s population is expected to rise to 15.7 million during the same timeframe. Both cities also share the desire to realize the market potential for solar energy which the MOU addresses with a commitment to share city-to-city knowledge of technology and design to promote environmental sustainability.

“Our two cities have many common interests such as increasing the use of clean energy and reducing reliance on coal-fired power,” said LABC President Mary Leslie. “This new partnership between our two cities will support emerging technologies, companies, and energy providers dedicated to a future of clean energy.”

The LABC, one of the most influential advocacy and educational organizations in California, has spearheaded business-friendly solar energy policies in Los Angeles, which today boasts of having the most solar power installations in the nation. The group also spearheaded a clean energy coalition that drove the development of the most successful feed-in-tariff program in the United States. 

AmCham Vietnam’s primary mission is to increase trade and investment between the U.S. and Vietnam and to further the development of sustainable energy programs throughout the country. VCCI-HCMC’s mission is to protect and assist businesses and to contribute to Vietnam’s socio-economic development by promoting economic, commercial, and technology cooperation between Vietnam and the rest of the world. This new alliance brings together these influential business groups formalizing their relationship and setting goals for information sharing and problem-solving. 

Los Angeles Mayor Eric Garcetti, a champion for sustainable energy development, participated in the event where the MOU was signed. The mayor is leading a 10-day Asia trade mission that's intended to develop trade opportunities and encourage direct investment in L.A. and to tackle issues like climate change and sustainable planning for the 2028 Olympic Games which will be held in Los Angeles. To date, the mayor and his delegation have met with key government and private sector leaders in Tokyo, Seoul, and Hanoi. From Ho Chi Minh City, the mayor will travel to Hong Kong where he will conclude the mission.

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