On January 30, the Institute of Business Administration - University of Economics, Vietnam National University, Hanoi, in collaboration with Halcom Vietnam Joint Stock Company, organized the scientific conference "ESG and Sustainable Development Issues in Vietnam".
Speaking at the Conference, Dr. Vu Van Tien - Member of the Presidium, Head of the Propaganda Department - Central Committee of the Vietnam Fatherland Front said that the 14th Party Congress continued to affirm the requirement for rapid and sustainable development on the basis of science and technology, innovation and digital transformation; considering this as the main driving force for innovating the growth model, improving productivity, quality and competitiveness of the economy.
In that context, Dr. Vu Van Tien believes that ESG needs to be seen as a new management thinking, an important tool to realize the Party's guidelines and policies on sustainable development, green growth and building a modern national governance.
The core thing is not to apply ESG in sufficient form or according to trends, but to transform ESG into specific actions, suitable to Vietnam's practical conditions, associated with the implementation capacity of each industry, each locality, and each enterprise. When properly localized, ESG will not only be an integration requirement, but also become a driving force to promote rapid, sustainable and inclusive socio-economic development" - Dr. Vu Van Tien emphasized.
However, according to Dr. Vu Van Tien, it is necessary to frankly recognize that the implementation of ESG in Vietnam is still facing many challenges.
The sustainable development institution in our country today, although gradually built, is generally not complete and still has many obstacles. The international standard system is not fully compatible with the characteristics of the developing economy; data capacity, measurement and verification are still limited. Especially, most Vietnamese businesses are small and medium-sized enterprises, if there is no roadmap and appropriate support mechanisms, ESG may become a burden of compliance. It even increases the risk of formalization, "greening", going against the sustainable development goals that our Party has identified" - Dr. Vu Van Tien emphasized.
Speaking at the workshop, Mr. Nguyen Quang Huan - Vice Chairman of the Advisory Council on Science and Technology and Digital Transformation, Chairman of Halcom Vietnam's Board of Directors, emphasized that ESG is becoming an important content in the direction of private economic development according to Resolution 68 of the Politburo. This Resolution identifies the private economy as one of the most important driving forces of the economy, and at the same time sets out the requirement to prioritize access to resources, promote science and technology, green economy, circular economy and apply the ESG standard framework.
Sustainable development is no longer an ethical choice, but a condition for long-term survival. Businesses with a good ESG platform are often more stable in the face of shocks and crises. However, ESG in Vietnam is currently mainly driven by requirements from investors, international financial institutions and export markets, while the integration of ESG into business strategies and operations is still not really systematic" - Mr. Nguyen Quang Huan assessed.
From an academic perspective, Assoc. Prof. Dr. Phan Chi Anh - Director of the Institute of Business Administration, University of Economics, Vietnam National University, Hanoi, said that ESG is gradually becoming an important evaluation framework alongside traditional financial indicators. Assoc. Prof. Dr. Phan Chi Anh said that ESG is not only "business ethics" but is increasingly becoming a competitive condition, directly affecting the market access and international capital flow of Vietnamese businesses.
