ESG: "Parking ring" and core for the development of Vietnam's medical equipment industry

On November 20, Dan Tri newspaper organized a seminar on “ESG in medical equipment manufacturing: Journey towards sustainable development”, with the participation of representatives of the Ho Chi Minh City Department of Health, the Ho Chi Minh City Medical Equipment Association and Wembley Medical Factory Joint Stock Company - an enterprise operating in the Ho Chi Minh City High-Tech Park.

At the program, many remarkable information and proposals in particularly sensitive areas related to human health were presented.

The “parking lot” factor to approach the market

Mr. Truong Hung, Vice President of the Ho Chi Minh City Medical Equipment Association, said that in implementing ESG, medical equipment manufacturing enterprises previously paid attention to the G (Governance) factor first, then to S (Social) and E (Environmental).

However, the current global ESG criteria are shifting more attention to the environment. In the field of medical devices, this factor is especially harsh, when products must ensure high quality, medical safety, and environmental friendliness.

According to Mr. Hung, ESG commitments - especially environmental criteria - are becoming a "parking lot" for medical equipment businesses to be able to access further into the market. Foreign investment funds or banks also carefully consider how businesses handle the environment before investing.

And even today's consumers do not just stop at price, but also look at how businesses handle the environment when choosing products.

From the perspective of state management, last June, the Government also issued Decree 119/2025/ND-CP amending and supplementing a number of articles of Decree No. 06/2022/ND-CP of 2022 of the Government regulating the reduction of greenhouse gas emissions and protection of the ozone layer, demonstrating the importance of environmental protection in production.

Agreeing with the above opinion, Mr. Le Nhat Khoa Nguyen, Deputy Director of Wembley Medical Factory Joint Stock Company, said that since its establishment, this unit has paid attention to applying ESG criteria in its operations, especially environmental factors.

“We operate a medical waste treatment system and optimize energy consumption throughout the entire production process. The company designs product packaging to reduce plastic use, be more environmentally friendly, and optimize costs while still ensuring quality and medical safety,” Mr. Nguyen cited.

Wembley Medical representative shared that ESG implementation brings clear and measurable results, such as helping businesses operate more economically and efficiently, contributing to reducing product costs.

Dr. Luong Chan Lap, Deputy Head of the Financial Planning Department, Ho Chi Minh City Department of Health, said that in the context of globalization and increasing pressure on sustainable development, ESG has become an indispensable factor in the development strategy of businesses, especially in the Pharmaceutical - Medical Equipment industry.

ESG commitment and implementation is not only a trend but also an important driving force to help pharmaceutical and medical device enterprises enhance brand value, optimize operational efficiency and meet stakeholder expectations.

“ESG brings businesses benefits such as: increasing revenue and profit, attracting and recruiting high-quality human resources, improving the working environment for employees, enhancing brand image, enhancing international integration and protecting the environment,” Dr. Lap listed.

There is no official ESG criteria set for the medical device industry.

Experts said that although the State and businesses have recognized the importance of ESG implementation, the biggest challenge facing the medical equipment industry is that our country currently does not have an official set of ESG criteria for this field.

Mr. Truong Hung analyzed that not only in Vietnam, but also internationally, there are only ESG reports and ESG orientations in general, there is absolutely no specific set of criteria to evaluate medical equipment manufacturing enterprises.

This leads to a situation where many businesses - especially small and medium-sized enterprises - are confused about where to start, or struggle to evaluate results.

From the perspective of a pioneering enterprise in the production of high-tech medical equipment, a representative of Wembley Medical believes that the development of a set of ESG criteria specific to the medical equipment sector is very necessary and needs to be designed in a balanced - flexible - and clear roadmap direction.

Specifically, in terms of Environment (E), there should be specific standards for medical waste management, the use of clean energy and biosafe recycled materials. In terms of Society (S), there should be an emphasis on occupational safety, training of highly skilled personnel, and responsibilities to the medical community such as participating in research or supporting the primary health system.

Regarding Governance (G), it is necessary to encourage businesses to apply digital transformation in traceability, quality control and data transparency.

In addition, according to experts, Vietnam should develop a set of ESG criteria in medical device manufacturing according to the “3-level roadmap” model - from basic compliance, to improvement and finally innovation - so that small and medium-sized enterprises can also participate.

Besides the above difficulties, the implementation of ESG in medical device manufacturing in Vietnam still faces many other major barriers, such as resources and awareness.

At the discussion, all three guests agreed that the core factor for successful ESG implementation is the leader's mindset.

Mr. Le Nhat Khoa Nguyen emphasized that ESG is only effective when it becomes a common culture and belief, not just a slogan. Enterprises must consider ESG as a long-term strategy that brings value, instead of a temporary solution.

“The biggest difficulty is still the initial investment cost and changing operational thinking. Investing in environmental treatment systems, renewable energy or digital transformation requires significant financial and human resources.

In addition, for ESG to truly come into practice, businesses must change from leadership awareness to the habits of each employee. It is a long process, requiring consistency and continuity," Wembley Medical said.

On the side of the Ho Chi Minh City Medical Equipment Association, Mr. Truong Hung hopes that more and more business leaders will pioneer the implementation of ESG in production, to spread to other units. When leaders understand and convey the right message to employees, applying ESG will be much easier, similar to the awareness of saving electricity and water in the family.

Need to coordinate closely and build a comprehensive support ecosystem

Dr. Luong Chan Lap acknowledged that the current situation of ESG commitment and implementation in pharmaceutical and medical device companies shows a contrasting picture. While large enterprises are pioneering concrete steps, small and medium enterprises are lagging behind due to limited awareness and resources.

According to the Deputy Head of the Financial Planning Department, Ho Chi Minh City Department of Health, in order for the medical equipment industry to overcome the above difficulties and challenges, there needs to be close coordination between businesses, management agencies and organizations, to build a comprehensive support ecosystem, from finance, technology to human resource training.

On the occasion of the forum "ESG in medical equipment manufacturing" organized by Dan Tri newspaper, Wembley Medical representative hopes to continue receiving companionship and policy support from state management agencies.

Specifically, the management agency can offer preferential capital sources, green credit funds, incentive programs or incentives for businesses. This will be the motivation for small and medium enterprises to not stay out of the ESG game.

Besides, businesses themselves also need to prepare good internal resources, including complying with legal corridors, environmental regulations, and taking care of workers' lives properly and adequately.

Vice President of the Ho Chi Minh City Medical Equipment Association - Mr. Truong Hung - reiterated that investment funds currently often look at which businesses have sustainable development before investing capital.

This creates pressure, but also motivates businesses to "cut their coat according to their cloth", cannot have a "quick fix" mindset but must build ESG capacity through practical training and knowledge sharing between parties.

Only when ESG becomes a continuous learning ecosystem, not just a compliance requirement, can the Vietnamese medical device industry develop sustainably.

Workshop "ESG Implementation with Science and Technology - From Data to Action"

How to apply science and technology to implement ESG for different types of businesses, including small and medium enterprises (SMEs), is also part of the content shared at the workshop "Implementing ESG with science and technology - From data to action" organized by Dan Tri newspaper at 1:30 p.m. on November 26, in Hanoi.

This workshop is a satellite activity within the framework of the Vietnam ESG Forum 2025 with the theme "Science and technology and driving force for sustainable development".

Interested readers can register to attend the conference here.

Source: https://dantri.com.vn/suc-khoe/esg-vong-gui-xe-va-cot-loi-de-nganh-thiet-bi-y-te-viet-nam-phat-trien-20251121122903599.htm