ECO-INDUSTRIAL PARKS IN ASIAN COUNTRIES: THE MECHANISM OF FORMATION AND ECONOMIC EFFECTS (THE CASE OF VIETNAM)

Abstract

This article examines the mechanisms behind the development and functioning of special economic zones, particularly industrial parks, in Vietnam, as key instruments of industrial development, economic growth, the attraction of foreign direct investment (FDI), the formation of an export-oriented economic model, and the implementation of the state’s regional policy. It identifies the main features of economic zones and industrial parks, which in practice perform the functions of classical special economic zones (SEZs) by supporting the concentration of production, the development of infrastructure, and the country’s integration into global supply chains. The article also analyses the dynamics of Vietnam’s economic growth and, in particular, reveals the relationship between FDI inflows and GDP growth, which confirms the effectiveness of state policy in the area of investment regulation. The article further examines the transformation of industrial parks into eco-industrial parks (EIPs) as a response to the worsening environmental problems caused by Vietnam’s extensive development model. It explains the concept of eco-industrial parks, which are based on the principles of the circular economy, resource efficiency, and industrial symbiosis, where the waste of one enterprise becomes a resource for another. The article also examines UNIDO programmes aimed at developing eco-industrial park models on the basis of existing industrial parks are also examined. The main stages of this transformation are considered, including resource audits, the introduction of energy-efficient technologies, the development of an institutional framework, and the scaling up of successful practices. In addition, the article analyses indicators of the economic efficiency of the largest EIPs. The article also examines the role of state policy in promoting green development through a combination of tax, financial, regulatory, and market-based instruments, as well as the importance of international support, especially programs aimed at the implementation of resource-efficient and cleaner production. The key outcomes of implementing eco-industrial parks are identified, including lower emissions, more efficient use of resources, and increased investment attractiveness of the country. The article concludes that the Vietnamese model of the gradual transformation of industrial parks into eco-industrial parks is an effective instrument for combining economic growth with environmental security and may serve as a practical guide for the recovery and modernisation of Ukraine’s economy in the post-war period.