Assessing the Feasibility of Eco-Industrial Parks in Developing Countries: A Case Study of Thang Long II Industrial Park in Vietnam

Tran Thi Mai Thanh, Do Dieu Huong, Nguyen Duc Long, Nguyen Duy Dat (), Mai Thanh Huyen and Hoang Cao Cuong
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Tran Thi Mai Thanh: Falculty of International Business and Economics, VNU University of Economics and Business, Hanoi 100000, Vietnam
Do Dieu Huong: Division for Development Economics, Vietnam Institute of Economics, Vietnam Academy of Social Sciences, Hanoi 100000, Vietnam
Nguyen Duc Long: Division for Development Economics, Vietnam Institute of Economics, Vietnam Academy of Social Sciences, Hanoi 100000, Vietnam
Nguyen Duy Dat: Falculty of International Economics and Business, Thuongmai University, Hanoi 100000, Vietnam
Mai Thanh Huyen: Falculty of International Economics and Business, Thuongmai University, Hanoi 100000, Vietnam
Hoang Cao Cuong: Falculty of International Economics and Business, Thuongmai University, Hanoi 100000, Vietnam

Sustainability, 2023, vol. 15, issue 21, 1-21

Abstract: Eco-industrial parks (EIPs) exemplify sustainable industrial development by maximizing resource efficiency through waste material reuse. However, their global implementation encounters challenges. This paper introduces two key contributions to the EIP literature. Firstly, it presents a simple, interdisciplinary framework for assessing the feasibility of transitioning to or establishing new EIPs. Secondly, it applies this framework to evaluate EIP development in Vietnam, focusing on Thang Long Industrial Park II (TLIPII) as a case study and drawing implications for other developing nations. TLIPII is remarkable for its adherence to national environmental standards, with a dual status of partial occupancy and ongoing infrastructure development. This study suggests the potential for a partial EIP transition in the occupied area and establishing a new EIP in the remaining portion. Yet substantial challenges persist due to institutional barriers like the absence of incentive policies, specific implementation guidance, and environmental regulations. TLIPIIs case underscores crucial success factors for EIP development: active stakeholder engagement, a comprehensive EIP management framework, clear stakeholder responsibilities, and the involvement of local-level actors. It also highlights the importance of flexible environmental regulations, incentives, robust stakeholder engagement, and well-defined policy frameworks. These lessons from TLIPII can inform actionable policy recommendations for other developing countries. By applying these insights, these nations can chart a roadmap for sustainable industrialization while addressing the challenges and opportunities of the EIP model.

Keywords: eco-industrial parks; feasibility analysis; industrial sustainability; environmental impact assessment; sustainable industrial development; ecological indicators (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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