Vietnam should build clear legal framework for green industrial parks: Phu My 3 IP chairwoman
Vietnam should build a clear legal framework to facilitate the green growth of industrial parks, such as penalizing investors for failing to meet their green growth requirements, said Nguyen Thi Thao Nhi, chairwoman of industrial real estate developer Thanh Binh Phu My JSC.
Nguyen Thi Thao Nhi, chairwoman of Thanh Binh Phu My JSC, at the Vietnam Industrial Park Forum 2023: Towards Green Growth in Ho Chi Minh City, November 16, 2023. Photo by The Investor/Le Toan.
Nhi made the statement at the Vietnam Industrial Park Forum 2023: Towards Green Growth hosted by The Investor on Thursday, while giving recommendations based on the success of Phu My 3 Specialized Industrial Park (PM3 SIP) as a green industrial park in the southern coastal province of Ba Ria-Vung Tau.
Presenting Phu My 3 Specialized Industrial Park's development over the past decade, amid the unclear legal framework on eco-industrial park, Nhi highlighted that PM3 SIP's strategy is to accompany and ensure that investors follow green requirements. For example, PM3 SIP enforces a rule of cutting off water suppliers to investors that break environmental regulations.
Besides, local authorities should update their requirements on green growth, green economy and green industry, the executive added.
Panelists at the Vietnam Industrial Park Forum 2023: Towards Green Growth in Ho Chi Minh City, November 16, 2023. Photo by The Investor/Le Toan.
Nhi highlighted PM3 SIP’s achievements, including the Prime Minister’s approval for its establishment in 2014, the support of the Japan International Cooperation Agency (JICA), attraction of $3 billion from 41 investors since 2017, and its utilization of the province’s strengths, and others.
Attracting major investors is not an easy task, Nhi noted, suggesting that industrial park developers should focus on connecting investors with local authorities in order to gain their appreciation and allure more investment.
"The critical point is we must understand investors and accompany them on their path," she said.
At the forum, Kazama Toshio, deputy CEO of Thanh Binh Phu My JSC, noted Phu My 3 Specialized Industrial Park's advantages for investors, including its proximity to Cai Mep-Thi Vai seaport and expressways, stable supplies of water and electricity, the gas pipeline, single-window services, and others.
Investment in the industrial park is expected to grow from the current $3 billion to $5.5 billion in 2026, or $8-9 million per hectare on average, he said.
- Read More
Japan's leading transport firm eyes forming driver training center, AI lab in Vietnam
Yamato Holdings, which holds approximately 46% of Japan’s home delivery market, intends to set up a professional driver training center in Vietnam to supply human resources to Japan, said its president Nagao Yutaka.
Industries - Tue, February 18, 2025 | 11:37 am GMT+7
Vietnam plans to stop 2 coal-fired power plants by 2030, all inefficient ones by 2040
Vietnam aims to stop two coal-fired power plants by 2030 and then all inefficient ones that cannot be improved by 2040, according to a decision signed by Prime Minister Pham Minh Chinh on Monday.
Energy - Tue, February 18, 2025 | 11:15 am GMT+7
Vietnam's property market strongly performs in 2024 on solid fundamentals: Knight Frank
Vietnam's real estate market made a strong performance in 2024 across the office, ready-built factories/warehouses, and apartment segments thanks to solid fundamentals, write Knight Frank analysts.
Real Estate - Tue, February 18, 2025 | 8:00 am GMT+7
Thailand, Australia boost ties in transport, logistics
Thailand and Australia are seeking to strengthen cooperation in transport infrastructure and carbon emission reduction in the logistics sector.
Southeast Asia - Mon, February 17, 2025 | 8:20 pm GMT+7
China surpasses US as biggest importer of Vietnamese shrimp
China imported $834 million worth of Vietnamese shrimp last year, surpassing the U.S. to become the largest buyer of this item from Vietnam, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
Economy - Mon, February 17, 2025 | 7:51 pm GMT+7
Malaysia, S Korea resume FTA talks
Malaysia and South Korea are set to hold their seventh round of negotiations for a bilateral free trade agreement (FTA) as they look to expand their trade portfolio and strengthen cooperation, according to the latter's Ministry of Trade, Industry and Energy.
Southeast Asia - Mon, February 17, 2025 | 5:23 pm GMT+7
Indonesia to launch new sovereign wealth fund this month
Indonesia will launch a new sovereign wealth fund called Danantara this month, with an initial capital of around $20 billion.
Southeast Asia - Mon, February 17, 2025 | 5:19 pm GMT+7
Singapore's Billion Union builds $70 mln fabric factory in Vietnam
Hong Kong-invested Thanh Hoa Billion Union Textile kicked off the construction of a $70 million factory in Vietnam’s central province of Thanh Hoa on Monday.
Industries - Mon, February 17, 2025 | 5:04 pm GMT+7
Vietnam’s construction ministry plans real estate exchanges for improved transparency
The Vietnamese Ministry of Construction is advancing a plan to establish real estate exchanges, similar to the stock market, in a bid to enhance transparency and efficiency in property transactions.
Real Estate - Mon, February 17, 2025 | 4:57 pm GMT+7
Vietnam plans to increase electricity imports from China, Laos by 2030
The Vietnamese Ministry of Industry and Trade (MoIT) aims to raise electricity imports from China and Laos by 3,000 MW and 2,500 MW by 2030, over 5 times and nearly 1.6 times higher than those stated in the current Power Development Plan VIII (PDP VIII), respectively.
Energy - Mon, February 17, 2025 | 4:14 pm GMT+7
Vietnam urges Turkish contractor to speed up mega Long Thanh airport's terminal construction
Türkiye-based IC ICTAS, the lead contractor of the passenger terminal within the under-construction Long Thanh International Airport, should speed up the construction of the package, said Vietnamese Deputy Prime Minister Tran Hong Ha.
Infrastructure - Mon, February 17, 2025 | 3:27 pm GMT+7
Vietnam tech giant FPT to provide high-quality AI human resources
With the groundbreaking of an inter-level school on Sunday, FPT Corporation is completing its education system from elementary to university levels in the south-central province of Binh Dinh, to provide high-quality human resources, particularly in AI.
Companies - Mon, February 17, 2025 | 11:32 am GMT+7
Japan pneumatics firm SMC to start $330 mln Vietnam expansion from July
SMC Manufacturing Vietnam, under Japanese pneumatic instrument producer SMC, aims to start its $330 million expansion in Vietnam from July.
Industries - Mon, February 17, 2025 | 10:47 am GMT+7
Institutional breakthroughs to provide solid foundation for heightened business confidence: economists
At a meeting of the National Assembly's Economic Committee in early February, the government proposed the 2025 GDP growth be "8% or more", instead of 6.5-7% set last November. The Investor introduces opinions of some leading Vietnamese economists on this proposed target.
Economy - Mon, February 17, 2025 | 8:02 am GMT+7
Vietnam consumer credit enters new growth cycle
After the decrease in consumer capital demand, negative growth, and peaking bad debts in 2023, Vietnam’s consumer financial market is entering a new growth cycle, backed by positive signs from the macroeconomic environment.
Finance - Sun, February 16, 2025 | 3:19 pm GMT+7
Vietnam property investors seek new opportunities in provincial markets
Real estate investors in Vietnam, both individuals and organizations, are shifting their investments from city centers to suburban regions and neighboring provinces where land remains abundant and significant investments are being made in infrastructure, particularly in transportation.
Real Estate - Sun, February 16, 2025 | 2:00 pm GMT+7
