Proactively transition to not miss opportunities
At Tan Quang Minh Trading and Production Co., Ltd. (Bidrico), the roadmap towards green production has been implemented early by the enterprise with methodical steps. According to the enterprise representative, the key contents include environmental protection, increased recycling, use of renewable energy and prioritizing green raw materials throughout the production process.
These orientations are not only limited to commitments, but have been realized by specific results. Over many years of implementation, the enterprise's environmental and recycling targets have all met requirements; the use of green materials in production has been implemented synchronously, gradually improving operational efficiency and reducing environmental impact.
According to Mr. Nguyen Dang Hien - General Director of Bidrico, the trend of green consumption and green production is an irreversible trend, not only in Vietnam but globally. In fact, in the past time, Vietnam has issued many support policies related to interest rates, green economic development and digital transformation, creating favorable conditions for businesses. However, whether these policies can be utilized depends very much on the proactive preparation of businesses themselves.
Currently, green credit opens up many opportunities for businesses, but if they are not well prepared and fully meet the criteria, businesses can easily miss this source of capital. To access green credit, businesses must meet the necessary standards and certificates, build green and sustainable production plans with a clear roadmap" - Mr. Nguyen Dang Hien emphasized.
In addition to the State's policies, businesses need to proactively improve capacity, standardize dossiers, be transparent in operation and build appropriate development strategies. These are key factors to be able to access and use support resources effectively in the context of increasingly fierce competition.
Enterprise internal strength - a decisive factor in breakthrough ability
From the perspective of the business community, Mr. Nguyen Ngoc Hoa - Chairman of the Ho Chi Minh City Business Association - said that the most important thing is that businesses must proactively change their thinking and adjust their business strategies towards sustainability.
According to Mr. Hoa, the State has issued many mechanisms and policies to support businesses, including breakthrough policies. For example, the formation of an international financial center will open up favorable conditions for businesses to access investment funds, invite projects and participate more deeply in development programs.
However, to take advantage of these opportunities, businesses must truly have internal strength. "Businesses need to reorganize management activities in a transparent direction, standardize the system of books, documents and databases. This is an important foundation to build trust with investors" - Mr. Nguyen Ngoc Hoa emphasized.
In addition, the Ho Chi Minh City Business Association is currently assigned a task by the city and has signed a contract with the University of Economics to develop a project, a scientific research topic on a breakthrough policy system, towards forming national and international branded enterprises. The focus of the project is to develop leading enterprises, and at the same time build a network of linked enterprises, jointly participating in development programs according to common orientations.
Another important driving force mentioned by Mr. Nguyen Ngoc Hoa is investment programs in the form of PPP, public-private partnerships, with many large infrastructure projects boldly assigned to the private sector to implement, such as high-speed railways, high-speed roads. When these projects are implemented, it will lead to the participation of a series of businesses in the fields of iron and steel, train cars, railways, bridge and road construction, drainage culverts...
With a strong decision-making mechanism, assigning the right people to the right jobs, the project preparation time can be significantly shortened, even only calculated in months instead of prolonging for many years as before. These are positive results that have been proven in practice.
Green economy - pillar of sustainable development strategy
In the global context, the green economy is being placed at the center of the development strategy as the requirement for growth associated with environmental protection and emission reduction becomes increasingly urgent. Tools such as carbon boundary adjustment mechanisms, sustainable development reporting requirements, or ESG standards not only reshape investment flows but also directly impact the competitiveness of economies.
In Vietnam, the policy of green transformation and green economic development has been identified by the Party throughout many stages. From Resolution No. 24-NQ/TW in 2013 to Conclusion No. 81-KL/TW in 2024 of the Politburo, the requirement to promote green transformation, circular economy and energy transformation is increasingly emphasized. Recent central resolutions such as Resolution No. 57-NQ/TW and Resolution No. 68-NQ/TW continue to affirm the role of science, technology, innovation and the business sector in the process of transforming the growth model.
According to EuroCham Vietnam Chairman Bruno Jaspaert, green transformation has gone beyond the scope of a strategic choice, becoming a condition for growth in the new context. He emphasized: "Green transformation is a must-win battle. Economic growth cannot be maintained without a steadfast strategy towards climate resilience and sustainable development.
What is noteworthy, according to Mr. Jaspaert, is that the green journey does not distinguish business scale. From large corporations to small and medium-sized enterprises can participate if starting from fundamental innovation in the production, management and energy use model. In the context of the European Union implementing the European Green Agreement with a mobilization scale of at least 1,000 billion Euros, along with the Global Gateway Initiative worth 300 billion Euros, Vietnam is facing a great opportunity to participate more deeply in the global green value chain.
Potential of renewable energy in the long-term growth problem
According to Dr. Bui Thanh Minh - Deputy Director of Professional Affairs of the Office of the Private Economic Development Research Board, Vietnam is simultaneously pursuing two challenging goals: To become a developed country with high income by 2045 and reach Net Zero by 2050. This requires a fundamental transformation of the growth model, in which renewable energy plays a key role. With the two-digit growth orientation for the period 2026-2030, electricity demand will increase very rapidly, while the current electricity source structure is still heavily dependent on high-emission sources.
Dr. Bui Thanh Minh pointed out that nearly 50% of the national electricity output still comes from coal, creating great pressure on emission reduction commitments, while increasing costs and resource dependence. Meanwhile, Vietnam has great potential for wind power, solar power and biomass, but the development process still faces many barriers in terms of transmission infrastructure, price mechanisms, investment procedures and long-term access to capital by private enterprises.
Mr. Minh emphasized that green transformation in the energy sector is not only a story of adding new capacity, but also restructuring the entire supply-demand system towards efficiency and sustainability. If the transformation is slow, Vietnam will not only face environmental risks, but also suffer negative impacts on economic growth, competitiveness and ability to participate in the global supply chain in the context of increasingly tight green barriers. LUC NGOC
Improving institutions to mobilize green resources
From the management agency's side, Deputy Minister of Finance Do Thanh Trung said that to make green transformation substantive, the key requirement is to improve institutions and build a set of green enterprise criteria suitable to the actual capacity of the economy.
According to the Deputy Minister, the Ministry of Finance previously advised on issuing a set of green growth criteria including 72 criteria applied to sectors, basically meeting international standards. In parallel, the ministry is promoting the mobilization of resources for green transformation through the development of green credit, green bonds and green capital markets.
Although green credit balance and the scale of green bond issuance have grown positively, it is still modest compared to the very large capital demand for energy transition, green infrastructure development and climate change response. "The issue is not only to mobilize capital, but to design a mechanism for businesses to access and use those resources effectively" - Deputy Minister Do Thanh Trung emphasized.
In the context of Vietnam simultaneously pursuing the goal of becoming a developed country with high income by 2045 and reaching Net Zero by 2050, green transformation is no longer an option, but an inevitable path. Businesses, with the central role of the economy, if they proactively green, improve internal strength and transparent governance, will not only take advantage of policies but also open the door to sustainable growth in the long term. LE GIANG
