The Ministry of Planning and Investment (MPI), the Swiss Embassy in Vietnam, and the United Nations Industrial Development Organization (UNIDO) have signed a collaboration to implement the project “Scaling up Eco-Industrial Park approaches to promote Circular Economy in Vietnam."

Funded by the Swiss State Secretariat for Economic Affairs (SECO) with nearly $3.4 million, the project aims to promote a circular economy and mitigate climate change impacts in Vietnam's industrial zones from 2024 to 2028.

This funding will support the nationwide replication of the eco-industrial park model, building on the successes achieved between 2014 and 2024.

The initiative focuses on improving resource efficiency, reducing waste, promoting recycling, and enhancing the economic, environmental, and social performance of businesses, contributing to sustainable and comprehensive industrial development.

According to the MPI, SECO's support has enabled Vietnam to successfully convert four industrial parks into eco-industrial parks from 2015 to 2019 and is currently in the process of converting three more from 2020 to 2024.

Speaking at the signing ceremony, Deputy Minister of Planning and Investment Do Thanh Trung expressed gratitude for SECO and UNIDO's continued support and highlighted Vietnam's selection as one of five countries to receive support for eco-industrial park development under the Global Eco-Industrial Park Program Phase 2 (2024-2028).

“The project will further accelerate the development and conversion of eco-industrial parks in Vietnam, implement the circular economy, and contribute to sustainable industrial development,” he said.

Currently, Vietnam has 436 industrial parks, which attract approximately 35-40% of annual Foreign Direct Investment (FDI). With over 300 operational parks employing over 4.16 million workers directly, these parks contribute to more than 50% of the country's total export turnover.

Source: VnEconomy