In the context of Vietnam’s commitment to achieving net-zero emissions by 2050 and accelerating green economic transition, sustainable investment is becoming a crucial pillar for urban development in major cities such as Ho Chi Minh City (HCMC). However, over the past five years (2020–2025), HCMC has faced numerous barriers in attracting and implementing sustainable investment projects. These challenges include unclear legal frameworks, cumbersome administrative procedures, high costs of ESG auditing, insufficient green infrastructure, limited ESG governance capacity, lack of transparency, and risks of corruption and project delays. This study systematically analyzes these key barriers and proposes strategic solutions: (i) developing a clear and harmonized green taxonomy aligned with international standards; (ii) establishing an integrated online “green one-stop service” for streamlined project approval; (iii) creating a fund to subsidize ESG auditing and technical assistance; (iv) investing in smart grid infrastructure and EV charging hubs; (v) establishing an ESG Academy to enhance human resource capacity; (vi) implementing independent ESG audits and publishing HCMC’s Green Investment Index; and (vii) strengthening community oversight and transparency in project approval processes. The research provides a practical roadmap for implementing these solutions, with a phased approach from short-term to long-term. The results aim to enhance HCMC’s green financial ecosystem, improve transparency and investor confidence, and position the city as a regional leader in sustainable urban development.
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