The green industrial zone in a circular economy

Many industrial zones in Ho Chi Minh City have been and are gradually turning production business into a circular, green economy for sustainable development.

Creating a circular economy based on an ecological, sustainable, and green model is a popular trend nowadays to attract high-quality investment. Vietnam saw the potential early on and devised a green financial growth plan to reduce carbon emissions...Many HCMC industrial areas have steadily changed the manufacturing company into a circular economy, greened for long-term growth.

Grabbing the opportunities for the green industrial model.

Hiep Phuoc industrial area, Nha Be District, HCM City, is currently the only municipality of HCM City to participate in the project "Development of Ecological Municipalities in Vietnam from the Global Ecological Municipality Programme." This is the approach from a traditional industrial model to a more sustainable green economy.

The operations here have resulted in a specific metamorphosis. The term "industrial biotechnology" has become more popular in the United States. When one company's garbage becomes the raw material for another. At the Meizan Factory, the single, hot vapor from the oil distillation process is passed to the drying process. Mold debris is recycled into stainless tiles and utilized as raw materials in other manufacturing processes. For example, the Xuan Mai Paper Company takes paper waste from various firms and recycles it into paper rolls, toilet paper, and so on.

Internet source

Located in the overall planning of the 3,900-hectare urban area of Hiep Phuoc Port, Long Huan industrial zone has more than 200 domestic and foreign enterprises operating. The majority of our business customers are concentrated in countries like Japan, South Korea, the EU, the US... The regulatory factors from the production chain are the main factors that help the enterprise to promote a green factory at the outset.

According to Mr. Bui Le Anh Hieu, Director of Business Marketing and Technical Director of Long Huan Company, the green economy has become mandatory if enterprises want greater effectiveness in attracting investment, trade, and primarily foreign investors. The manager of an industrial zone has also shown consistency in recruiting investment by looking for clients who share a degree of environmental consciousness.

"This is also a significant difficulty because investment and commercial demands are constant. How can management discover the proper audience and attract the right consumers using the correct strategy? It is not a matter of one or two years. It is the project's complete 50-year life cycle. So, maintaining the project continually by environmental rules is critical and requires long-term attention", he added.

All industrial districts in HCM City and the critical Southern area aspire to create a diverse industrial environment and long-term growth. A green economy, or circular economy, is a long-term sustainability that requires an objective evaluation test split into particular criteria for parallel consistency.

Quantity by policy

Overall, green growth means that the economy needs to grow and grow based on regard for natural resources and follow an environmentally sustainable path. However, there is no "all-in-one" approach to promoting green growth due to differences in each country.

Many experts argue that effective, practical, and flexible policy tools are central to creating successful and sustainable green growth. Especially in developing countries, these policy tools can direct investment flows to the appropriate level, sector, and region at the right time to stimulate the growth of the whole system.

An industrial zone operates most effectively when the particular quantification of requirements, constraints, and the proper legislative framework aids firms. As a result, a more ambitious and thorough strategy for cyclical economic growth is required to enable Vietnam and localities, particularly HCM City, to acquire green finance and capital support from partners to meet the objectives established.

Source: Ministry of Finance and Trade