Riding the Green Wave: Unlocking US Investment Opportunities in Long An

Green Industrial Infrastructure

As of June 2024, Long An International Port is one of the pioneering ports in Vietnam to operate and utilize the CATOS system (for container cargo) and the MOST system for general cargo (bulk, dry, and breakbulk cargo).

The investment in advanced operating systems has optimized the supply chain, enabling cargo vessels, customers, and partners worldwide to connect directly and obtain real-time cargo information at the port, reducing the time spent on email and phone communications.

Vehicles entering and exiting the port use Autogate software with tractor teams meeting EURO 5 standards, and all cranes are electrically powered. Warehouse operations at the port are solar-powered with a capacity of 10MW; lighting and landscape architecture also use energy-efficient LED lights combined with solar energy.

Aiming to become a green and smart international port, Long An Port and Long Beach Port, USA, signed a letter of intent to establish a cooperative relationship, sharing experiences in port management and operations.

This collaboration not only enhances market connectivity and increases transshipment cargo volume but also strives for sustainable development in trade cooperation.

Mr. Tran Van Tuoi, Vice Director of the Long An Department of Planning and Investment, shared that the 2023 investment promotion efforts yielded significant results for Long An. Especially with eight delegations promoting investment abroad, many partners started working with Long An from the beginning of 2024. These included enterprises from 40 countries and territories currently investing in the province. The province also received many delegations preparing to receive investments.”

Long An province has attracted large-scale projects from well-known US investors, such as Pepsi, Coca Cola, and Avery Dennison.

Among these is Suntory Pepsico’s sixth factory in Asia, the largest in the region, with an investment of over $300 million, located in Hựu Thạnh Industrial Park, Đức Hòa. This factory is expected to operate using renewable energy sources, biomass fuel, and solar power, significantly reducing greenhouse gas emissions throughout its production activities.

Consequently, these substantial investments in Long An, supported by US delegations in Vietnam, have paved the way for the province’s investment attraction policies to become more practical.

Ms. Anne Benjaminson, Deputy Consul General of the United States in Ho Chi Minh City, remarked: “In Vietnam, this project is invested at an ideal time. The Vietnamese economy is experiencing strong growth… One of the important roles of the US delegation in Vietnam is to support the promotion of economic and trade relations between the two countries. Such projects will contribute to creating jobs for local people and bringing advanced technology and sustainable development initiatives with renewable energy.”

Long An is committed to attracting modern and large-scale industrial development projects, especially those that apply green technology and aim for sustainability. Priority is given to key sectors such as Industry 4.0 automation, electronics components and software production, semiconductor industry, artificial intelligence, smart eco-city development, port-related logistics services, border gate economy, high-tech agriculture, and renewable energy.

Leveraging Green Economy

From the beginning of 2024 until now, Long An has licensed 44 new foreign investment projects (an increase of 12 projects) with a total investment of $226 million. Notably, in June 2024, 10 new FDI projects were licensed with registered capital of nearly $16.5 million (an increase of $4 million).

Accordingly, in the first six months of 2024, the provincial gross domestic product (GRDP) is estimated to have grown by 5.26%, the highest growth rate since the COVID-19 pandemic. Long An’s Provincial Competitiveness Index (PCI) and Provincial Green Index (PGI) for 2023 showed significant improvements in scores and rankings, breaking into the top positions nationwide. Specifically, Long An’s PCI ranked 2nd out of 63 provinces and cities, an increase of eight places compared to 2022, while PGI also rose 16 places from the previous year, ranking 12th in the country.

With a strong recovery after the COVID-19 pandemic, Long An continues to set tasks and solutions to achieve its economic growth target of 8 to 8.5% for 2024.

Mr. Nguyen Van Ut, Chairman of the Long An People’s Committee, stated that the province is committed to improving statistics and forecasting to effectively implement solutions for economic restructuring. Enhancing the investment environment towards a green economy and sustainable development is not only to improve PCI and PGI rankings but also to attract more effective and sustainable investments.

“With the consistent principle of accompanying businesses and considering their difficulties as our own, and their success as our success, investors in Long An will be facilitated to succeed with their invested projects. We commit to enhancing transparency and tightening discipline, especially in monitoring the support for businesses’ difficulties and obstacles.” affirmed Mr. Nguyen Van Ut.