Forum on green solutions for industrial parks and investment promotion organised in Vinh Phuc

Forum on green solutions for industrial parks and investment promotion organised in Vinh Phuc

The forum attracted 300 participants from international organisations, state management agencies, Vinh Phuc People’s Committee and investors. On the same day, the Organising Board set up a field trip to CNCTech Thang Long and ACCTON factories in Thang Long Vinh Phuc Industrial Park, Ba Thien 1 IP and Ba Thien II IP.

At the forum, experts and representatives of state management agencies will share an overview of foreign direct investment (FDI) attraction in Vietnam and policy orientation to attract high-quality FDI in the country in general and Vinh Phuc in particular.

Besides that, they will also present the context, policy orientation and state support for the development of green and ecological industrial parks in Vietnam to welcome the new wave of investment—opportunities and challenges for Vietnam in the process of greening industrial parks.

An important part of the forum is discussion on proposals, solutions on trends, international experiences and recommendations for Vinh Phuc province in attracting high-quality investment.

According to Lawyer Nguyen Hong Chung, vice chairman and general secretary of VIPFA said, "The forum is not only a place to meet and discuss green solutions, new technologies, and sustainable development models for industrial parks, but also an important investment promotion event to help Vinh Phuc engage high-quality FDI capital."

“Green and ecological industrial parks ‘eco-IP’ will contribute significantly to efforts to respond to climate change, mobilise resources from the private sector for green industrial solutions, ensure energy security, and demonstrate the government's political determination in implementing sustainable development commitments,” said lawyer Chung.

Green and eco-IPs are becoming the selection criteria of foreign investors with the goal of sustainable development, economic benefits along responsibility to the community and society.

In mid-July, Decree No.35/2022/ND-CP stipulating the management of industrial and economic zones came into effect. The decree stipulates that eco-IPs participate in cleaner production and efficient use of resources, are linked, and cooperate in production to realise industrial symbiosis.

Before Decree 35, almost all eco-IPs in Vietnam were implemented under a pilot model. In 2020, the Ministry of Planning and Investment (MPI) in collaboration with the United Nations Industrial Development Organization and the State Secretariat for Economic Affairs of Switzerland launched the model on eco-IP intervention in Vietnam, utilising perspectives from the Global Eco-IPs Programme.

The Ministry of Planning and Investment is cooperating with other ministries and relevant authorities to build the circular guiding the implementation of Decree 35.

“There are many barriers to expanding eco-IPs across the country. An eco-IP is a new definition, so it takes a lot of time and effort to communicate work to real estate developers and manufacturers, In addition, the implementation of this model requires a large investment capital, which is a weakness of domestic enterprises because the participants are mainly small and medium-sized enterprises,” said Tran Quoc Trung, deputy director of the Economic Zones Management Department under the MPI.

“Moreover, according to reflections on authorities’ IPs and economic zones, Vietnam has no special preferential financial mechanism to encourage the implementation of eco-IP initiatives. The investors also face psychological barriers and lack management capacity and experience, making them confused about their investment decision,” Trung said.

Localities, including Vinh Phuc, target to complete industrial infrastructure to attract high-tech investment influx.

Vietnam Export Promotion Forum discusses sustainable trade The rapidly evolving international trade landscape has made sustainable development a mandatory requirement. New regulations on sustainable trade from importers are pushing countries like Vietnam to accelerate the transformation of its production processes.

Real estate developers pin hopes on eco-IP regulations Industrial real estate developers are waiting for a new law to open the path for developing greener models of industrial parks.

Incentives can boost eco-IP ambitions Encouraging the development of new models of industrial parks, including eco-industrial parks, is considered one of the most outstanding impacts of Decree No.35/2022/ND-CP on the management of parks and economic zones.

Best results will come from eco-IP direction Although the initial investment cost is higher than the cost of building traditional industrial parks, developers are still encouraged to follow the strategy of building green industrial areas for long-term gains.

DEEP C implements large-scale eco-industrial park model DEEP C Industrial Zones has scored laudable achievements after many years pursuing an eco-industrial park (eco-IP) model.

The first eco-IP emerges at Ho Chi Minh City’s western gateway As the Mekong Delta’s first and largest eco-industrial park, Prodezi is committed to sustainability with a focus on renewable energy, water recycling, green construction and warehousing, and facilitating a circular economy.