IDICO lists sustainability among key criteria

January 26, 2024 | 18:11
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More than 300 businesses met at the first session of the Vietnam Industrial Real Estate Association (VIREA) held on January 18 to discuss solutions for developing industrial real estate, as well as topics related to the organisation and its operational regulations.

IDICO, with a desire to exchange knowledge and experiences on industrial park (IP) development with other members of Vietnam's industrial real estate sector, was one of the first businesses to join the VIREA, and has consistently aimed for sustainable development based on the principles of environmental, social, and governance (ESG) standards.

IDICO highlights sustainability as a development criterion

Rooftop solar power by IDICO at Nhon Trach 5 Industrial Park

Sustainable business development is not just about creating profits, it must also be beneficial for all stakeholders. IDICO is pursuing a strategy of building and developing synchronous, high-quality infrastructure in its IPs according to its ESG orientation, demonstrating its commitment to sustainable development and providing high-quality infrastructure to investors.

In terms of environmental standards, IDICO focuses on using raw materials and natural resources economically and effectively. Specifically, the company has invested in building wastewater treatment plants by modern technological processes, ensuring the quality of water discharged into the environment is of the highest standards.

In addition, IDICO has been implementing rooftop solar systems of its own design on ready-built factories and is encouraging businesses in its parks to deploy solutions to reduce greenhouse gasemissions, striving to achieve the 'net-zero by 2050' target.

IDICO promotes respect and fairness as it builds relationships with its stakeholders, while focussing on the wellbeing of its personnel, by creating the best possible conditions for the experts and workers living in and around its IPs.

As for governance, IDICO promotes management ethics, business responsibility, and risk management through transparent and clear policies that protect the interests of all parties. Through the structure of its board of directors and departmental leadership, IDICO also ensures gender equality by increasing the proportion of female management positions.

IDICO has been investing in and managing 10 IPs throughout Vietnam with a total land area of about 3,300 hectares, attracting around $8 billion in investment capital from nearly 300 businesses.

Some investors include Suntory Pepsico in Huu Thanh IP, Long An province, Hyosung & Posco Steel in Phu My II IP, Ba Ria-Vung Tau province, Heineken in My Xuan A IP, Ba Ria-Vung Tau province, and Honda in Kim Hoa IP, Vinh Phuc province.

In addition to existing land that is ready for investment in Huu Thanh, Phu My II and Phu My II Expanded IPs, Cau Nghin, and Que Vo II, IDICO is continuing to look for areas for potential development in key locations across the country. Within the next 3–5 years, IDICO plans to expand and develop a further 2,000ha of industrial land.

The company also provides ready-built-factory and warehouse solutions to meet the diverse needs of investors.

IDICO will continue to deploy effective solutions with a strong commitment to pursuing an ESG-oriented strategy, contributing to the development of Vietnam's industry, and creating benefits for shareholders, investors, and related parties.

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By Bich Ngoc

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