50% Vietnam firms lag in sustainable park awareness: Reports

With 418 IPs covering 129,900 hectares, they contribute around 50 per cent of the country’s total export turnover, aiding in shifting Vietnam’s trade balance towards surplus and significantly bolstering state revenue.

However, despite their critical economic role, a VCCI survey revealed concerning gaps in understanding sustainable IP concepts. Half of the businesses surveyed admitted to being unaware of the concept, hindering progress towards national green growth goals.

Vietnamese IPs are mandated to transition towards environmentally friendly and sustainable models as per the National Strategy on Green Growth. Yet, the survey highlighted substantial obstacles, with only 22 per cent possessing international management system certificates and a dearth of enterprise-level audit information on financial, social, and environmental aspects.

Business representatives at the forum voiced challenges in achieving sustainable IPs, notably capital constraints and regulatory ambiguity even if developing IPs demands substantial upfront investment in infrastructure, while unclear regulations impede model transitions.

Vuong Thi Minh Hieu, deputy director of the Department of Economic Zone Management at the Ministry of Planning and Investment, pledged governmental support in developing green, sustainable IPs, adding efforts will focus on institutionalising this model into legal frameworks to facilitate industry adaptation and growth.

The forum underscored the urgent need for collaborative action to address these challenges, emphasising the importance of clear regulations, adequate financial resources, and governmental support to advance sustainable industrial park development in Vietnam.

Fibre2Fashion News Desk (DR)