IFC, Becamex Partner to Build Eco-Industrial Parks in Vietnam

Sao Da Jr, Vietnam – The International Finance Corporation (IFC) has signed a cooperation agreement with Becamex to promote the development of eco-industrial parks across industrial-urban regions in Vietnam. The partnership aims to enhance sustainable development initiatives as Vietnam shifts towards more environmentally responsible industrial practices.

On July 18, 2025, Becamex IDC, a leading Vietnamese industrial real estate developer, officially partnered with IFC, the financial arm of the World Bank Group. This collaboration seeks to establish a comprehensive Environmental, Social, and Governance (ESG) framework that aligns with global sustainability standards.

This agreement expands on ongoing collaboration that began in 2022, focusing on technical assistance and feasibility studies for Vietnam’s first Eco-Industrial Park (EIP) model. The new partnership will enable Becamex to implement international eco-industrial park standards across up to five pilot sites, identifying strengths and areas for improvement in environmental and economic performance.

Becamex CEO Nguyen Hoan Vu expressed his commitment to integrating international sustainability standards. He believes this collaboration with IFC will bolster the group’s ESG competencies and enhance access to green financial resources. Vu highlighted the significance of this partnership in promoting sustainable growth for Ho Chi Minh City and its surrounding economic regions.

Senior Manager Diep Nguyen van-Houtte from IFC noted that eco-industrial parks are critical for enhancing Vietnam’s competitiveness, reducing emissions, and attracting high-quality investments. She emphasized that this model is vital for Vietnam’s industrial transformation and alignment with global supply chains.

The agreement aligns with the recent resolution by the National Assembly to establish the Vietnam International Financial Center in Ho Chi Minh City and Da Nang. Vice Chairman Nguyen Van Dung of the Ho Chi Minh City People’s Committee praised the partnership, stating it enhances the city’s capacity for mobilizing resources for impactful projects.

This strategic move not only supports environmental goals but also aims to create a scalable template for the future development of smart, eco-friendly urban environments across Vietnam.