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PROPERTY

Long Thanh High-Tech IP with total capital
of $282 million, which aims to attract
modern manufacturing industries and is
expected to create additional tech-based
value while contributing to local socio-
economic development.
An MPI report summarizing 30 years
of IP and economic zone (EZ) development
states that, by 2030, 40-50 per cent of
localities are to convert existing IP into
eco-IPs and 8-10 per cent of localities will
build new eco-IPs. “In Vietnam, the trend
towards developing green or eco-IPs and
promoting cleaner production is gaining
momentum,” said Ms. Trang Bui, Country
Head of Cushman & Wakefield Vietnam.
“The move towards eco-IPs and cleaner
production aligns with global sustainability
Smart & sustainable goals and positions Vietnam as a respon-
sible and forward-thinking player in indus-
trial development.”

Green and eco-industrial parks are expected Attracting high-quality capital
Despite the gloomy outlook surrounding
to add to Vietnam’s FDI attraction efforts.
the global economy, FDI continues to flow
strongly into Vietnam. More than $6.17
billion was registered in the first quarter
By NGOC LAN
of this year, an increase of 13.4 per cent
over the same period of 2023, according to
MPI, and FDI attraction reached a record
conomic models are changing devel- the framework of cooperation between the $36.6 billion in 2023. Large international
opment goals around the world and MPI and international donors, but has investors now have high requirements on
E Vietnam has also entered into a new spread to other IPs with self-funding,” Mr. environmental and technological criteria
stage of development. Building green Le Thanh Quan, Director General of the in their investment processes, and many
industrial parks (IPs) and eco-IPs, and Department of Economic Zones Manage- US and EU investors have expressed a
converting existing IPs into eco-IPs, have ment at MPI, was quoted as saying. desire to invest in IPs that not only meet
recently become more pressing as the DEEP C was selected to participate in conditions in geographical location and
country adapts to new circumstances. the GEIPP-Vietnam project, and in the scale but also green and smart criteria.
first phase, with support from UNIDO, it A KPMG survey of 200 FDI enterprises
managed to engage 15 tenants in the shows that, in addition to priorities such as
Taking shape
According to real estate consultants Resource Efficiency and Cleaner Production location, human resources, and logistics
Cushman & Wakefield, among the 400 (RECP) project. Some 131 solutions were infrastructure, trends in green IPs are also
IPs licensed in Vietnam are about 290 proposed, 84 of which were implemented, factors these enterprises prioritize when
currently in operation, but only about 1-2 resulting in a reduction of 30 million kWh selecting investment locations. There are
per cent of those are implementing steps of power, 56,000 cu m of water, and 29,500 currently four IP models attracting foreign
to become green or eco-IPs. The figure is, tons of greenhouse gas (GHG) emissions investors. Of most interest is eco-IPs, which
however, on the rise. a year. DEEP C is encouraging more clients are a global trend, followed by urban service
The Ministry of Planning and Invest- to participate in the RECP project to cut IPs, where workers have a place to live and
ment (MPI) has coordinated with the more resources consumption and lessen work, then smart IPs, with management,
United Nations Industrial Development the carbon footprint. electrical systems, and wastewater treatment
Organization (UNIDO) to implement the “Vietnam is at a crucial stage of its linked to smart systems, and IPs integrating
Eco-Industrial Park Intervention in Viet- development,” Mr. Bruno Jaspaert, CEO logistics, warehouses, and ports.
nam (GEIPP-Vietnam) project, with a of the DEEP C Industrial Park, told VET. It is no coincidence that Denmark’s
total budget of $1.82 million, which was “For a green future that promotes sus- Lego Group chose the VSIP III Green Indus-
piloted from 2020 to 2024 in five localities: tainable and long-term growth, I believe trial Park in southern Binh Duong province
Ho Chi Minh City, Can Tho, Dong Nai, that the initiative to set up eco-IPs is a to build the world’s first carbon neutral fac-
Da Nang, and Hai Phong. Among IPs very good start.” tory, costing $1 billion. VSIP’s green IP
selected for project intervention were the In 2023, VSIP - a joint venture between model uses clean materials, reducing carbon
Amata Industrial Park, the Deep C Indus- Becamex IDC from Vietnam and a coalition emissions into the environment and meeting
trial Park, and the Hiep Phuoc Industrial of Singaporean investors led by Sembcorp the requirements of many manufacturers.
Park. Technical support was also provided Development - announced the development According to Deep C’s observations,
to IPs involved in a previous UNIDO proj- of five green, smart, and sustainable IPs tenants in green IPs are interested in
ect: the Tra Noc 1&2 Industrial Parks and in Vietnam over the following three years, environment, social, governance (ESG)-
the Hoa Khanh Industrial Park. with total investment of approximately $1 driven solutions for their own ESG report-
“The transformation from conventional billion. Also last year, the Amata Group ing, as many stock-listed companies are
IPs into eco-IPs does not stop at IPs within from Thailand invested in building the now obliged to report on such achieve-

44 Vietnam Economic Times April 15, 2024 en.vneconomy.vn