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
New rules on foreign investors’ acquisition of shares in Vietnamese credit institutions
Vilaf lawers provide an insight into the government's new Decree 69/2025/ND-CP which amends a number of provisions of Decree 01/2014/ND-CP on foreign investors’ acquisition of shares in Vietnamese credit institutions.
Banking - Sat, May 17, 2025 | 8:17 am GMT+7
Vietnam forecast to become world’s second-largest rice importer by 2025-2026
Vietnam is projected to become the world’s second-largest rice importer in 2025-2026, only after the Philippines, as the country must ramp up imports to meet export demand amid falls in domestic production, according to the latest World Agricultural Supply and Demand Estimates, released by the US Department of Agriculture (USDA).
Southeast Asia - Fri, May 16, 2025 | 11:36 pm GMT+7
The Trump Organization gets okay for $1.5 bln property project in northern Vietnam
A $1.5 billion golf, eco-tourism and urban complex proposed by a joint venture between Hung Yen Investment and Development Group and IDG Capital, which represents The Trump Organization, has received in-principle approval from the Vietnamese Government.
Real Estate - Fri, May 16, 2025 | 10:46 pm GMT+7
Vietnam's leading developer Becamex seeks to become billion-dollar company
Becamex, a leading industrial real estate developer in Vietnam, is strongly restructuring itself, attracting more private investment capital, and reducing state ownership, with an aim to become a billion-dollar company.
Companies - Fri, May 16, 2025 | 5:10 pm GMT+7
S Korea's Hanwha Energy eyes more LNG power projects in Vietnam
Hanwha Energy is keen to invest in more LNG-to-power projects in Vietnam, vice president Kim Young-Wook said in a meeting with the country's Ministry of Industry and Trade on Thursday.
Energy - Fri, May 16, 2025 | 3:32 pm GMT+7
Vietnam, Thailand elevate relations to comprehensive strategic partnership
Vietnam and Thailand have upgraded their relations from a strategic partnership, established in 2013, to a comprehensive strategic partnership.
Politics - Fri, May 16, 2025 | 12:44 pm GMT+7
Vietnam, China firms partner to develop pumped storage hydropower in Vietnam
Vietnam's Power Generation Corporation 2 (EVNGENCO2) and China's Lancang-Mekong International Company Limited (CSG-LMI) have signed an MoU on cooperation to develop pumped storage hydropower projects in Vietnam.
Companies - Fri, May 16, 2025 | 12:27 pm GMT+7
Vietnam market rebound in May: Leading stocks begin to rally
A new wave of stock market gains appears to be forming in Vietnam, opening up promising investment opportunities for both institutional and retail investors.
Finance - Fri, May 16, 2025 | 11:12 am GMT+7
Malaysia's TNB proposes partnership with Vietnam's EVN in connecting regional power grids
TNB, Malaysia's largest utility, has proposed Vietnam's state-owned utility EVN to cooperate in building a power transmission network connecting countries, including a line between Malaysia and Vietnam, via land and sea.
Energy - Fri, May 16, 2025 | 8:17 am GMT+7
New Vietnam-China int'l road transport route opens
Convoys carrying electronic components, fresh vegetables, and daily necessities departed simultaneously from Nanning in south China's Guangxi Zhuang Autonomous Region and Kunming in southwest China's Yunnan province on Wednesday morning, heading for Hanoi, the capital of Vietnam.
Southeast Asia - Thu, May 15, 2025 | 10:34 pm GMT+7
Indonesia’s rice reserve set to hit record 4 mln tons
Indonesia’s rice reserves are on track to surpass 4 million tons, setting an all-time high after reaching a new record of 3.7 million tons in mid-May.
Southeast Asia - Thu, May 15, 2025 | 10:24 pm GMT+7
China's giant Huadian Group eyes enlarging renewable energy portfolio in Vietnam
Huadian Group, a wholly state-owned company of China, is keen to further invest in Vietnam’s renewable energy sector.
Energy - Thu, May 15, 2025 | 9:40 pm GMT+7
Vietnam’s macroeconomic indicators 'broadly positive': Dragon Capital
Vietnam's macroeconomic indicators remained broadly positive, with both trade and FDI attraction performing well in the first four months of the year, write Dragon Capital analysts.
Economy - Thu, May 15, 2025 | 5:47 pm GMT+7
'How many new jobs created’ should be new KPI for local governments: VCCI leader
With a shift in thinking about the role of the private sector, local governments may soon prioritize creation of new jobs and businesses over traditional growth metrics, according to Dau Anh Tuan, deputy secretary-general of the Vietnam Chamber of Commerce and Industry (VCCI).
Economy - Thu, May 15, 2025 | 5:23 pm GMT+7
Herbalife’s Vietnam earnings hit $75.4 mln in Q1, exceed China tally
Herbalife, a global multi-level marketing corporation selling dietary supplements, recorded $75.4 million in net sales in Vietnam in the first quarter of 2025, according to the firm’s report.
Companies - Thu, May 15, 2025 | 5:01 pm GMT+7
Japan’s Nitto Denko to quadruple northern Vietnam plant's production capacity
Nitto Vietnam, a subsidiary of Japan’s multi-sector corporation Nitto Denko, has decided to raise the investment in its Hung Yen province-based plant by $28 million to $160 million.
Investing - Thu, May 15, 2025 | 3:58 pm GMT+7
