Tue, 26 Sep 2023

HANOI, June 5 (Xinhua) -- The industrial sector is of much importance if the country is to achieve net-zero carbon emissions by 2050, Vietnam News reported on Monday.

Vietnam's industrial sector is responsible for around 47 percent of the country's energy consumption, according to the Ministry of Industry and Trade.

The Ministry of Planning and Investment said 40-50 percent of local authorities would develop detailed plans to transform existing industrial parks to eco-efficient industrial clusters by 2030, and 8-10 percent would create the first net-zero industrial zones from scratch.

Vietnam currently has more than 400 industrial parks, and many have yet to see significant advantages to participation due to the lack of policy measures, said economist Mai Van Sy.

Besides, environment, social, corporate governance commitments can be a challenge for the private sector as they must bear the high cost of clean production, he added.

Industrial park developers said businesses need motivations which vary for why firms participate and allocate their managerial and financial resources for compliance with the government's carbon-neutral priorities.

Nam Cau Kien Industrial Park, located in the northern port city of Hai Phong, was faced with several challenges associated with land use, land planning and environment regulations, in its transition to the country's first eco-industrial park, said Pham Hong Diep, chairman of Shinec, the main investor of the project.

Becoming a developed country by 2045 and reaching net zero emissions by 2050 is a challenge for a developing country like Vietnam, said Deputy Minister of Planning and Investment Nguyen Thi Bich Ngoc.

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