Slow transition to green will face obstacles and challenges.

That was the message emphasized by Deputy Prime Minister Tran Hong Ha when speaking at the Vietnam Sustainable Business Forum (VCSF) 2023, themed: The Global Green Race from Strategy to Sustainable Business Practice, organized by the Vietnam Federation of Commerce and Industry (VCCI) and the Vietnam Business Council for Sustainable Development (VBCSD) on the afternoon of August 23rd in Hanoi .

Deputy Prime Minister Tran Hong Ha speaks at the VCSF Forum 2023

We hope businesses will offer suggestions to improve green transformation policies.

Deputy Prime Minister Tran Hong Ha noted that, through the VCSF forums in recent years, the business community has shifted from awareness to action, as Vietnam has seen many successful models of green economy , circular economy, and digital economy. This demonstrates the responsiveness of Vietnamese businesses to the development trends of the times.

Like many countries around the world, Vietnam has implemented numerous mechanisms and policies to support and encourage businesses to transform their production models towards sustainable development. Currently, competitiveness and the ability to attract investment no longer lie in cheap labor, tax incentives, or land support, but rather in renewable and clean energy sources.

Deputy Prime Minister Tran Hong Ha stated that businesses are currently facing opportunities for green transformation and digital transformation, and while this process offers many development opportunities, it also presents intertwined challenges and obstacles.

If businesses embrace green transformation, aligning their benefits with sustainable community interests, social responsibility, environmental protection, and cultural development, it will create numerous opportunities for long-term growth, leadership, and the development of new industries.

Conversely, green transition also presents challenges; if the transition is slow and emissions are not reduced in production, businesses will face numerous green technical barriers and find it difficult to penetrate markets.

The Deputy Prime Minister emphasized that the commitment to achieving Net Zero by 2050 is a huge challenge for a developing country like Vietnam.

But this is a historic moment and an opportunity for Vietnam to act together to achieve global goals; it is also an opportunity to restructure the economy, transform the growth model based on knowledge, digital transformation, green transformation, high-quality human resources, science and technology.

"The Government and the Prime Minister always listen to the opinions and suggestions of the business community in improving institutions to address challenges and seize opportunities to drive the country's rapid and sustainable development," Deputy Prime Minister Tran Hong Ha emphasized.

Helping farmers increase their income through sustainable purchasing.

Speaking at the forum, Mr. Binu Jacob, General Director of Nestlé Vietnam, stated that in the current period, businesses must pursue sustainable development if they want to succeed, and this transformation and sustainable development process will bring many benefits to the community.

Binu Jacob shared his experience in implementing green transformation to help farmers increase their income from coffee cultivation.

Mr. Binu Jacob cited that, to fulfill its commitment to sustainable coffee procurement, Nestlé Vietnam has implemented the Nescafé Plan sustainable coffee farming program in the Central Highlands provinces since 2011. To date, the program has supported more than 22,000 farming households in practicing sustainable coffee production; provided training to more than 330,000 farmers; and distributed 63.5 million disease-resistant, high-yield seedlings to help replant aging coffee plantations.

The program contributes to a 20% reduction in fertilizer use, a 40% saving in irrigation water, and helps farmers increase their income by 30-100% through the application of appropriate intercropping models.

Furthermore, this program applies digital technology to support the development and construction of farm logbook tools, helping farmers manage their production and business activities effectively through software applications, replacing paper-based management.

Mr. Nguyen Quang Vinh, Vice Chairman of VCCI and Chairman of VBCSD, believes that businesses should prioritize resources to promote "dual transformation"—digital transformation alongside green transformation. Businesses need to link long-term success and growth with the sustainable benefits of the community, society, and the environment.

"Faced with the current demands for sustainable development, the business community needs to redefine its success not only in terms of financial figures but also in its ability to adapt, withstand, and recover from unprecedented challenges," Mr. Vinh said.

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