At the seminar "Green Transformation: From Pressure to Business Opportunities," organized by the Nguoi Lao Dong newspaper on February 19th, Associate Professor Dr. Nguyen Dinh Tho, Director of the Institute of Strategy and Policy under the Ministry of Natural Resources and Environment , stated that one of the important elements of a green economy is green finance, based on a carbon market. Due to a lack of green finance, many businesses struggle to carefully calculate the equation of reinvestment, modernization of production lines, and environmental improvement...
"Therefore, for Vietnam to achieve a green economic transformation, it needs to improve its institutions, strengthen the development of green infrastructure and green finance, as well as promote technology transfer and innovation to meet the requirements of green transformation. Notably, Vietnam needs to build and develop a carbon market to create an important foundation, thereby fulfilling its commitments to respond to climate change, aiming for net-zero emissions by 2050," said Associate Professor Dr. Nguyen Dinh Tho.
Meanwhile, Mr. Lim Dyi Chang, Director of Corporate Banking at UOB Vietnam, believes that Vietnam is making significant progress in its green transition, striving to balance economic growth and sustainable development. In this process, financial institutions play a crucial role in promoting green growth through supportive policies and providing credit for environmentally friendly projects.
"Recently, Vietnamese banks have provided approximately VND 650 trillion in green credit, with nearly 45% allocated to renewable energy projects. However, the proportion of green finance in total loan balances remains limited, and long-term funding for sustainable projects has not met actual needs. At UOB Vietnam, we are also actively participating in this process with a series of initiatives to expand our green trade finance portfolio. Accordingly, the bank has financed 17 renewable energy projects and is continuously expanding the scale of sustainable finance," Mr. Lim Dyi Chang further shared.
According to Mr. Lim Dyi Chang, to accelerate the green transition and move towards the Net Zero goal, organizations need a multi-faceted approach to support the economy's shift from a traditional model to a green economy. Furthermore, the Vietnamese government needs to continue improving the legal and policy framework to facilitate businesses' adoption of green technologies and sustainable practices.
"In particular, green transformation also needs to be synchronized with the ongoing digital transformation in Vietnam. Accordingly, integrating digital technology into green initiatives will help businesses optimize operations, improve efficiency, and reduce carbon emissions. This requires investment in sustainable infrastructure as well as advanced technologies such as smart grids, energy-saving systems, and environmentally friendly production," said Mr. LimDyi Chang.
According to Mr. Dinh Hong Ky, Vice Chairman of the Ho Chi Minh City Business Association (HUBA), currently about 90% of Vietnamese businesses are small and medium-sized enterprises (SMEs), but they are limited in investing in green transformation. The reason is that SMEs face many difficulties in the greening process, from finance and human resources to technology and awareness... Those companies that boldly implement green transformation are mostly large corporations.
According to Mr. Dinh Hong Ky, one of the biggest obstacles to green transformation is finance. Statistics show that about 65% of businesses face difficulties in accessing capital to implement green projects. Although financial support mechanisms exist, directing this capital to the right recipients remains a major challenge. In addition, human resources are also a worrying factor. Only about 12% of businesses in Ho Chi Minh City possess personnel with expertise in ESG (environmental, social, and governance), which significantly hinders the transformation process. Vietnamese businesses believe that production and business require green capital, but products that comply with green standards also need a stable market.
Mr. Nguyen Thai Viet Huy, Chairman of the Board of Directors of Saty Holding Investment Joint Stock Company, also stated that although the company specializes in investing in sustainable agriculture, after investing in green technology in agriculture, Saty Holding has found that farmers are willing to change their production methods to move towards environmentally friendly models. However, one of the major obstacles that producers are concerned about is the lack of outlets for green products, especially when the market does not yet clearly distinguish between sustainably farmed agricultural products and traditional agricultural products.
"To address the lack of outlets for green products, the company is connecting with green factories, bringing clean agricultural products into the kitchens of businesses committed to using environmentally friendly products. This is considered a promising direction, helping to ensure outlets for farmers while creating a sustainable green supply chain, contributing to increasing the value of Vietnamese agricultural products in domestic and international markets," said Mr. Viet Huy.
According to Mr. Dinh Hong Ky, small and medium-sized enterprises find it very difficult to find markets for green transformation products in the agricultural sector. Therefore, in the long term, if Vietnam's high-tech agriculture sector wants to achieve green transformation, it must first learn how to digitally transform. Digital transformation here means improving labor productivity and product quality... by automating many stages of plant, animal, and seed care.
"Currently, some companies like Vinamilk and Phuc Sinh are considered green businesses, great examples of enhancing the value of agriculture and agricultural products. This is a strength of Vietnam, so first and foremost, we should promote green and digital transformation in these fields to compete, instead of just focusing on semiconductor chips or electric vehicles," Mr. Dinh Hong Ky emphasized.
Source: https://doanhnghiepvn.vn/chuyen-doi-so/phat-trien-kinh-te-xanh-phai-gan-lien-voi-chuyen-doi-so/20250219101322357
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