Green iP-1: Making Thai Binh a Strong Magnet to Green and Sustainable Investment

With the continuous reception of large investors, including many high-tech industrial projects that are environmentally friendly, Lien Ha Thai Industrial Park (Green iP-1) has increasingly asserted its position as a key investment destination and turned Thai Binh into a “magnet” to attract green and sustainable investment.

Principle agreement signing ceremony, land and infrastructure sublease in Lien Ha Thai (Green Park iP-1) IP between Green i-Park Corporation and Pegavison Corporation

Bright investment destination

Established under Decision 464/QD-UBND dated February 17, 2021 of the Thai Binh Provincial People’s Committee, Lien Ha Thai Industrial Park (Green iP-1) covers nearly 600 ha of land. Green i-Park Corporation is the infrastructure investor.

After more than three years since establishment, the industrial park has attracted 25 investors with over US$1.5 billion of registered investment capital from many countries and territories. Tenants are mainly engaged in high-tech and environmentally friendly industries like electricity, electronics, automation and auto components, featured by Compal, Pegavision, Lotes, Ohsung and Greenwork. Notably, Hitejinro, the largest beverage producer in South Korea, has chosen Lien Ha Thai Industrial Park (Green iP-1) for its first overseas investment.

In 2023 alone, the industrial park attracted six FDI projects, helping Thai Binh province reach the milestone of nearly US$3 billion of FDI capital for the first time and become the Top 5 recipients of FDI in the country. This has asserted its leadership in FDI attraction in Thai Binh province. The positive performance has also helped increase its occupancy rate to nearly 50% in the first phase (588 ha).

To achieve this result, Mr. Bui The Long, General Director of Green i-Park, said: With its favorable geographical location, convenient transportation, synchronous and modern infrastructure investment and available clean land, Lien Ha Thai Industrial Park (Green iP-1) fully meets all requirements of large domestic and foreign investors. In addition, the industrial park also has a "dynamic advantage", always receives strong support from provincial leaders and enjoys its own attractive incentive policies. Besides, the operator is committed to constantly supporting and accompanying tenants.

Keeping the current investment inflow speed will be a favorable condition for the company to soon launch Green iP-2 Project (about 400 ha) - second phase - and synchronously invest in utility services for the industrial park like an R&D research area, banking services, customs, insurance and transportation, he said. Additionally, Green i-Park Corporation will also continue to improve and upgrade infrastructure, use clean energy, move towards a sustainable development model, and form a green and smart industrial park.

Toward a leading industrial park

In recent years, Thai Binh has been developing rapidly and sustainably. To become one of major industrial hubs in the country, the province has focused on developing green and smart industrial parks to draw “clean” investment capital and modern technology, increase added value and sharpen competitiveness. In particular, Lien Ha Thai Industrial Park (Green iP-1) is oriented by the Provincial People's Committee to attract high-tech projects and circular production with high added value and environmental friendliness.

Following this orientation, since its establishment, Green i-Park has invested in a centralized wastewater treatment system with advanced technology, capable of processing 25,000 cubic meters a day, divided into many phases. The first phase has completed building a tank with a treatment capacity of 5,000 cubic meters a day. It is powered by chemical and biological treatment technology and the treated wastewater discharged into the environment meets national technical standards, thus ensuring safety for the ecosystem and the environment.

Furthermore, the industrial park has also developed an extensive network of canals and green spaces, significantly enhancing coverage rates. It features water reservoirs designed for efficient water supply and drainage, contributing to flood prevention and fire safety. These initiatives support air conditioning, improve air quality, and foster a green environment, all while aligning with local construction plans and the economic development goals of Thai Binh province. This is also the earliest project to promote environmental protection efficiency.

To woo investors, Green-iP1 does not simply follow the occupancy rate criteria but selectively attracts high-tech industries, electronic industry, and green and clean technology. It does not accept toxic industries that pollute the environment and consume too much energy. Moreover, it focuses on investors who are extended satellites in supply chains and meet "industrial symbiosis" requirements. The output of an enterprise can be the optimal input for other ones, hence reducing waste discharged into the environment.

The Thai Binh Provincial Planning for the 2021 - 2030 period, with a vision to 2050, sets the goal: By 2030, Thai Binh will become a relatively developed province, one of industrial centers of the Red River Delta and have a modern economic structure with industry as the main driving force for growth.

“The successful construction of a green, clean, smart, eco-friendly industrial park and a model in the economic zone like Lien Ha Thai Industrial Park (Green iP-1) not only meets the trends and goals stated in the planning but also comes up with the expectations of the Party, authorities, business community and people in the province,” Long emphasized.

The company will strive to build a closed infrastructure of the entire industrial park and brace up investment promotion. It will focus on building a green Lien Ha Thai Industrial Park (Green iP-1), gradually switch to using clean energy sources, and apply smart management systems.

As a result, the industrial park will help make Thai Binh a “magnet” to investors and realize the goal of building Thai Binh into a developed province of the Red River Delta, with a prosperous economy, progressive society and a guaranteed ecological environment by 2050 in general.

By Tran Trang (Vietnam Business Forum)