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COVER STORY

BUILT TO LAST

FDI enterprises have been actively pouring capital into Vietnam
with a focus on sustainable development.

NGOC LAN Reports

PHOTO: VIET TUAN
he Binh Duong Provincial People’s ing to Dr. Majo George, a Lecturer at able Development (VBCSD), said that
Committee granted an investment RMIT University Vietnam. “Technology, Nestlé works closely with partners in all
T certificate on March 19 to Denmark’s processing and manufacturing, and green activities in Vietnam to “Create Shared
Lego Group for the construction of a 44-ha energy are becoming the main focus of Value”, contributing to the development
factory with total investment of more than FDI,” he noted. “The majority of recent of society while ensuring long-term business
$1 billion. The project will build its first FDI inflows are for high-quality, green, success. To date, Nestlé has invested $730
carbon-neutral plant, powered by renewable and renewable projects.” million in the country and currently employs
energy, and will meet LEED Gold standards, There have been many foreign enter- 2,200 workers at four factories. It is cur-
which cover all facets of sustainability, prises investing in sustainable development. rently the largest coffee buyer, with a total
including energy, water, and waste. Con- To promote the circular economy, all Nestlé annual purchase value of about 20-25 per
struction is to begin in the second half of factories in Vietnam are designed and built cent of Vietnam’s total coffee output, or
this year, with production set for 2024. to meet the highest standards of quality. $700 million a year.
Mr. Preben Elef, Vice Chairman of Nestlé has been pioneering regenerative Heineken Vietnam, meanwhile, has
the Lego Group, said this is the largest- agriculture in Vietnam through the contributed to the country’s prosperity in
ever project in Vietnam from a Danish NESCAFÉ Plan project. The company will continually investing to improve its per-
company. “The factory in Binh Duong deliver on this commitment by reducing formance. It has been a significant con-
will be the group’s most sustainable in carbon emissions throughout its operations tributor to GDP over the years, supporting
the world and create jobs for thousands and supply chain. NESCAFÉ Plan has so over 180,000 jobs across its value chain
of skilled workers,” he added. far distributed more than 53 million high- with local sourcing representing 85 per
yield, disease-resistant coffee saplings to cent of inputs, including 99 per cent of
INFLOWS FOR SUSTAINABLE farmers and helped rejuvenate 53,000 ha packaging materials. The brewer applies
DEVELOPMENT of aged coffee plantations in the central the circular economic model in its supply
Over recent years, FDI inflows into highlands. Mr. Binu Jacob, General Director chain to maximize resource cycles and
Vietnam have been concentrated more on of Nestlé Vietnam and Co-Chairman of minimize its impact on the environment,
sustainable development projects, accord- the Vietnam Business Council for Sustain- reusing or recycling all waste and by-prod-

12 | VIETNAM ECONOMIC TIMES | APRIL 2022 www.en.vneconomy.vn