HCM City, Los Angeles establish sustainable economic alliance hinh anh 1Officials of Ho Chi Minh City and Los Angeles pose for a group photo. (Source: VNA)

HCM City (VNA) – Ho Chi Minh City and Los Angeles have established an economic alliance to promote the cooperation and sharing of information in solar energy development and infrastructure investment.

The Los Angeles Business Council (LABC), along with the American Chamber of Commerce in Vietnam (AmCham), and the Vietnam Chamber of Commerce and Industry (VCCI) signed a memorandum of understanding (MoU) on the establishment of the alliance in Vietnam’s southern economic hub on July 30.

Under the MoU, the two cities will study respective strengths and exchange know-how in smart urban development and renewable energy, as well as share information on public and private projects to promote economic and environmental sustainability.

Mayor of Los Angeles Eric Garcetti said both cities recognised the importance of cooperation to effectively cope with challenges posed by climate change.

The two sides also hope to develop a solar energy market as signed in the MoU and pledged to share technology and knowledge in the field, he added.

LABC President Mary Leslie said HCM City and Los Angeles share the same interest in making more effective use of green energy.

Vice Chairman of the VCCI Doan Duy Khuong said the US is one of the biggest economic partners and export markets of Vietnam, with HCM City as its economic and financial hub boasting the largest number of businesses.

He hailed the initiative to establish the business alliance between the LABC, AmCham, and VCCI, saying it will open up numerous development opportunities and prosperity for both cities. –VNA