Prioritizing Green, Eco-friendly Projects

10:28:28 AM | 9/23/2023

Not only focusing on attracting investors with large, high-tech investment projects, Vinh Phuc has also prioritized investors with green, high-tech projects powered by clean energy and rejected projects exposed to environmental pollution in a bid to support green and sustainable economic development.

Assa Abloy Smart Product Co., Ltd in Ba Thien II Industrial Park

Implementing the resolution of the 13th National Party Congress and the resolution of the 17th Provincial Party Congress, especially five key tasks and three breakthrough stages, Vinh Phuc has rapidly changed its growth pattern and economic structure from breadth to depth, from low-tech content and low added value to higher-tech content and higher added value.

The province has actively adapted its investment attraction strategy to place more focus on key industries and fields based on effective cooperation with strategic investment partners and turn Vinh Phuc into a high-tech industrial manufacturing center of Vietnam, the region and the world.

To do this, protecting the environment, building a green business community and prioritizing high-tech investment projects are key factors. As an administrator of industrial parks in the province, the Vinh Phuc Industrial Zones Management Board has closely coordinated with relevant agencies to plan and attract investment projects into industrial parks, with an emphasis on clean, high-tech industries. When appraising and licensing investment projects, the board always prioritizes environmentally friendly resource-efficient projects and high-tech projects.

In a bid to build an industrial zone that not only has synchronous and modern infrastructure for investors but also ensures green and environmentally friendly elements, since it started designing and executing the project, Vina CPK Joint Stock Company - the investor of Ba Thien 2 Industrial Park, Binh Xuyen district - has focused on green landscape, waste collection and treatment in the industrial park. Accordingly, the company used more than 11% of the land area for trees, lawns, water surfaces and roads. To date, 100% of tenants in Ba Thien II Industrial Park signed waste collection and treatment agreements with environmental companies. Besides guaranteed infrastructure, Vina CPK has focused on attracting investors with high technology and environmental friendliness.

Based in Ba Thien 2 Industrial Park, ASSA ABLOY Vietnam Smart Products Co., Ltd, a member of ASSA ABLOY Group of Sweden, produces digital smart door locks, smart levers and smart door-locking devices. To meet product requirements for export to the United States and Europe, the company invested in modern machinery, applied digital technology to corporate governance, built a friendly and secure working environment for workers, and complied with environmental processes in production, thus creating a clean, green and safe working environment.

Clearly expressing its views on investment attraction, Vinh Phuc province has attracted many enormous investment projects, strategic investors and multinational corporations to date. In 2022, Vinh Phuc was honored to be a Top 10 province in terms of excellent economic management quality. Specifically, it ranked 9th out of 63 on the Green Index launched by the Vietnam Chamber of Commerce and Industry (VCCI). This confirmed the province’s stance of not sacrificing the environment for economic development in the past time.

In the current context of deeper international integration, economic development coupled with environmental protection is an inevitable trend. In the coming time, Vinh Phuc will continue to attract strategic investors and multinational corporations with investment projects that use advanced technology, apply modern administration and generate high-added value. At the same time, the province will improve the localization ratio and added value of companies and uphold social responsibility and environmental protection to enhance the outcome of foreign investment cooperation.

By Nguyet Tham, Vietnam Business Forum