Socio-ecological industrial parks to become an inevitable trend for real estate developers
November 29 2022 - 9:52PM
As Vietnam speeds up the transformation toward a sustainable
development model following the National Green Growth Strategy,
domestic and foreign investors are paying attention to its circular
economy development strategy and policies for building
eco-industrial parks.
There are nearly 400 industrial parks and
economic zones in Vietnam, attracting approximately US$12 billion
in foreign direct investment capital, which accounted for 80-90% of
foreign-invested projects in the manufacturing sector.
Vietnam is accelerating the establishment of
social-eco industrial parks to meet the demand and catch up with
global trends. Not only increasing economic efficiency, but the
transformation of traditional industrial parks into ecological ones
also opens up opportunities to attract high-quality investment
capital and increase competitiveness for enterprises.
The recent Decree 35 aims to promote
specialized, modern, green, clean industrial parks and provide a
clearer direction for investors. It means the transformation of
existing industrial parks into eco-industrial parks with complete
infrastructure, higher local quality jobs through improving working
conditions and enhancing cohesion, social benefits, and
responsibilities towards the community.
Vietnamese government targets that by 2030,
40-50% of provinces will plan to convert traditional industrial
parks into eco-industrial parks.
On November 2022, the LEGO Group kicked off the
construction of the US$1 billion first carbon-neutral factory in
Binh Duong Province. In a statement, the company aims to achieve
100% energy consumption through solar panels on its roof and nearby
farm.
With strong government support, Vietnam is on
its way to establishing itself as a global leader in renewable
energy production and becoming an ideal destination for many
leading global corporations such as Samsung, Canon, LG, Apple,
Dell, Sumitomo, Foxconn, and Pegatron to set up manufacturing
facilities. These big manufacturers are looking for high-quality
real estate facilities that meet the condition of a sustainable
industrial park.Among industrial real estate developers engaging in
the trend, Aurora IP, developed by one of Vietnam's leading real
estate developers Cat Tuong Group, is oriented to become an
eco-smart textile industrial park.
Aurora IP, which has a total phase 1 area of
about 520 hectares, provides a complete infrastructure of a
socio-ecological industrial park. It aims to build a top
textile-dyeing specialized industrial park with a green – clean –
sustainable development orientation. Located in a convenient
position within Ninh Co Economic Zone which covers 14,000 hectares,
including airport, seaport and power supply facilities, Aurora IP
offers a comprehensive infrastructure network to link local
suppliers with its logistics chain.
To ensure green and clean factors, the
industrial park is equipped with a wastewater treatment system of
110,000 m3/day night and a surface clean water system of 170,000
m3/day night, meeting the strict requirements of the textile dyeing
process.
Regarding human resources, Aurora IP will have
10,000 local workers with high school graduates or basic training,
while 130,000 people aged 21-35 are available in surrounding
districts.
As a socio-industrial park, Aurora IP also
provides other supporting items and facilities to ensure stable,
comfortable and safe accommodation for workers and officials in the
industrial park, with complete telecommunications infrastructure,
co-working space, and electric vehicles, bringing a new industrial
lifestyle for workers.
Many large foreign investors recognized Aurora
IP’s effort. Previously, it signed two large-scale projects with
total investment capital of $210 million with TOPT Textile Ltd and
Jehong Textile Co., Ltd. Accompany Aurora IP on the journey to
promote sustainable growth for Vietnam's textile and garment
industry, Jehong Textile was recently awarded three green-related
ISO certifications by the British Standards Institution.
Last month, Aurora IP signed another contract
with a Hong Kong-based top textile company Partner Corporation,
increasing the total foreign investment capital into Aurora IP to
$300 million. Once operated, these projects’ production capacity is
expected to reach nearly 90 million meters of fabric annually and
create 4,000 jobs.
"It's time to transform from traditional
industrial zones to more sustainable ones," said Mr. Tran Quoc
Viet-Chairman & CEO of Cat Tuong Group. "Our mission is to
provide a socio-ecological industrial park in compliance with local
and international green building certifications to reduce
industrial and commercial carbon footprint and ensure a good human
resource for manufacturers."
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