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Viet Nam to establish net-zero industrial zones

09:17 01/10/2024

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Ho Chi Minh City will transform its industrial zones into net-zero industrial parks (NZIP). This initiative was formalized through a memorandum of understanding signed between the Climateworks Centre (Monash University, Australia) and the Ho Chi Minh City Institute for Development Studies.

According to the memorandum, Climateworks will work with Ho Chi Minh City over the next 12 months to develop a roadmap for converting industrial zones into NZIP. Drawing from the experiences of industrial decarbonization initiatives in Australia and Indonesia, Climateworks will support the city in capacity building, policy development, and investment mobilization.

The plan includes creating a roadmap for NZIPs next year, with five areas adopting greener technologies to enhance sustainability. Many multinational companies in the city have focused on achieving net-zero emissions, significantly increasing the potential for green investment. Based on initial implementation in Ho Chi Minh City, the NZIP model will be replicated across Viet Nam.

Ms. Nguyen Van Trang, Southeast Asia Lead at the Climateworks Centre, explained that net-zero industrial zones are designed and operated to minimize greenhouse gas emissions while offsetting the remaining emissions through renewable energy, process improvements, and emission-reducing technologies. These zones aim to achieve net-zero emissions, contributing to sustainable development and climate change mitigation and serving as a tool and policy framework to create jobs in green manufacturing.

"NZIP can help scale up green steel, green aluminum, critical minerals, ammonia, or clean technologies such as batteries and electric vehicle components. The existing industrial park network in Viet Nam can be a solid foundation for launching NZIPs that align with Viet Nam's context. Viet Nam is discussing several infrastructure initiatives, including developing two renewable energy clusters for manufacturing, technology transfer, and production," Nguyen Van Trang affirmed.

The partnership between Climateworks and Ho Chi Minh City marks a significant step in Viet Nam's industrial decarbonization journey, providing a model that can attract green investment and support the country's long-term net-zero commitments.

The Climateworks Centre was established by collaborating with Monash University, the Australian government, and the Myer Foundation to bridge the gap between research and climate action in Australia, Southeast Asia, and the Pacific.

B.Tho

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