Slow green transition will face barriers and challenges

That is the message that Deputy Prime Minister Tran Hong Ha emphasized when speaking at the Vietnam Sustainable Business Forum (VCSF) 2023 with the theme: Global green race from strategy to sustainable business practices, organized by the Vietnam Federation of Commerce and Industry (VCCI) and the Vietnam Business Council for Sustainable Development (VBCSD) on the afternoon of August 23, in Hanoi.

Deputy Prime Minister Tran Hong Ha speaks at VCSF Forum 2023

Hope businesses "give advice" to perfect green transformation policy

Deputy Prime Minister Tran Hong Ha noted that through VCSF forums in recent years, the business community has transformed from awareness to action as Vietnam has had many successful green economic, circular economic, and digital economic models. This shows the acumen of Vietnamese enterprises in the face of the development trends of the times.

Like many countries in the world, Vietnam has many mechanisms and policies to support and promote businesses to transform their production models towards sustainable development. Currently, competitiveness and the ability to attract investment do not lie in cheap labor, preferential tax policies, or land support, but in the attraction of renewable energy and clean energy sources.

Deputy Prime Minister Tran Hong Ha said that currently, businesses are facing opportunities for green transformation and digital transformation, and this process brings many development opportunities but also intertwined challenges and barriers.

If businesses transform green so that their benefits are linked to sustainable community benefits, social responsibility, environmental protection, cultural development... it will bring many opportunities for long-term growth, leadership and development of new industries.

On the contrary, green transformation is also a challenge. If green transformation is slow and production does not reduce emissions, businesses will face many green technical barriers and find it difficult to penetrate the market.

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; at the same time, it is 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 opinions and suggestions from the business community in perfecting institutions to overcome challenges and take advantage of opportunities to develop the country quickly and sustainably," Deputy Prime Minister Tran Hong Ha emphasized.

Helping farmers increase income from sustainable purchasing

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

Mr. Binu Jacob shares his experience in green transformation to help farmers increase their income from coffee growing

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

The program contributes to reducing 20% ​​of fertilizer use, saving 40% of irrigation water, helping farmers increase their income by 30 - 100% thanks to applying reasonable intercropping models.

In addition, this program applies digital technology to support the development and construction of household diary tools, helping farmers manage production and business activities effectively through software applications, replacing paper management.

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

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

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