Ms. Le Vu Que Huong – Head of Composite Materials Branding, Phenikaa Corporation.
As part of the “Green Export Promotion Forum 2024” organized by the Ministry of Industry and Trade in collaboration with projects funded by the Swiss Government, Ms. Le Vu Que Huong, Head of Composite Materials Branding at Phenikaa Corporation, shared the company’s “green” story.
Vicostone is a well-known enterprise in the market, positioning its quartz stone products in the high-end segment. Its main markets are the US and Canada, while domestically, it ranks top in market share in Vietnam.
“Vicostone’s development strategy is based on four main pillars: green production, improving sustainable consumption, developing renewable energy, and reducing greenhouse gas emissions. We have perfected our green supply chain and achieved self-sufficiency in raw materials with two dedicated manufacturing plants. The company also focuses on developing long-lasting products inspired by nature,” said Ms. Le Vu Que Huong.
In addition, Ms. Huong shared the company’s emission reduction goals, including specific targets such as a 15% reduction in emissions by 2028, a 35% reduction by 2035, and net-zero emissions by 2050. Measures to achieve these goals include improving standards, reducing emissions in production activities, investing in carbon offset projects, and reforestation.
Vicostone’s roadmap to achieving its NetZero goals.
At the same time, Vicostone’s representative also shared:
“Vicostone has introduced products made from recycled materials such as glass and seashells. These recycled products account for about 33% of our total product range and contribute more than 15% to our revenue.”
Furthermore, Vicostone has minimized the use of raw materials, enhanced recycling and reuse practices, and transitioned to renewable energy sources. The company has also developed numerous new products using environmentally friendly materials, such as lightweight, energy-efficient artificial stone.
Vicostone Joint Stock Company is a member of the Phenikaa Group. Billionaire Ho Xuan Nang is the Chairman of the Board of Directors of both Phenikaa and Vicostone. Mr. Ho Xuan Nang is known in the business community as the “Jewish” tycoon. He also gained prominence through the high-profile acquisition of Vinaconex by Phenikaa in 2014.
The Green Production Incentive
Innovation is an objective necessity and a strategic choice for Vietnam to develop rapidly and sustainably, transforming its economy from ‘brown’ to ‘green’ to achieve its Net Zero goal by 2050.
The Electric Evolution: Unveiling VinBus and Its Strategic Calculations
VinBus is Vietnam’s first domestically produced electric bus and the country’s inaugural electric vehicle to be licensed for public transport services.
The Mega Project: A $67.3 Billion Venture Propelling Vietnam Towards Its 2050 International Commitments
This mega-project is an integral part of Vietnam’s commitment to the world by 2050 and a key driver in making that vision a reality.
The Billion-Dollar Behemoth: Racing Towards the Finish Line
The LEGO toy manufacturing plant in Binh Duong boasts a substantial investment of 1 billion USD and is expected to employ over 3,000 people. What truly sets this venture apart is the impressive 44.79 hectares of land allocated for its operations. This vast expanse of land enables the company to envision and execute expansive plans for future growth and development, ensuring their production capabilities can expand and adapt to meet the demands of their thriving business.
The Road to Carbon Market: Vietnam Aims for 2029 Launch
The Vietnamese government has unveiled an ambitious plan with the draft proposal for the ‘Establishment and Development of a Carbon Market in Vietnam’. This proposal outlines a pilot phase for a nationwide carbon market from 2025 to 2028, with an official launch in 2029. The market will facilitate the trading of carbon credits, with an initial focus on nationally-certified carbon credits, and will gradually expand to include a broader range of participants and credit types. This marks a significant step forward in Vietnam’s journey towards a more sustainable future, as the country actively seeks to reduce its carbon footprint and encourage environmentally conscious practices.
