Identifying challenges in digital transformation and green transformation

NDO - On November 12, in Hanoi, Investment Newspaper organized a workshop on Pioneering Dual Transformation for a Greener Vietnam.

The event is part of the annual conference on sustainable development, aiming to share practical experiences in sustainable investment and business activities, thereby spreading inspiration for innovation and creativity for greener and more sustainable development in key areas of the economy.

Speaking at the workshop, Mr. Le Trong Minh, Editor-in-Chief of Investment Newspaper emphasized: For Vietnam, digital transformation, green transformation, and innovation are objective requirements, strategic choices, and top priorities for rapid and sustainable development, transforming the economy from brown to green.

Accompanying the Government on that journey, the effective role of the business community in Vietnam is indispensable.

In fact, businesses have made strong changes with many practical and effective actions in business investment activities in all fields and sub-sectors of the economy following two trends of digital transformation and green transformation.

According to Mr. Le Trong Minh, the dual transformation trend, including digital transformation and green transformation, is opening up huge opportunities, creating strong motivation for Vietnam to transform to a sustainable business model. However, this process also creates many challenges in terms of institutions, finance, technology, etc.

Many solutions have been implemented in recent times, bringing good results for businesses, the community and the country. However, the dual transformation process also poses difficult problems that need to be solved, especially the problem of resource mobilization.

Therefore, this is an important and necessary time to review and re-evaluate Vietnam's competitive advantages and potentials as well as the mechanisms and policies that have been and are being implemented, the positive and negative aspects, in order to find solutions to promote the dual transformation process, towards sustainable development.

At the workshop, Mr. Le Viet Anh, Director of the Department of Science, Education, Natural Resources and Environment, Ministry of Planning and Investment, said that for Vietnam, digital transformation has contributed to creating strong changes in the operations of both the state and private sectors.

In 2020, the contribution rate of the digital economy to GDP was 12%, by 2023, the digital economy contributed 16.5% of GDP, with a growth rate of more than 20%/year.

However, digital transformation and green transformation are not really parallel processes. The World Bank's 2023 report on the dual transformation trend has pointed out the connection between digital technology and green technology.

During the 2017-2021 period, Vietnam held 15% of the total 493 green patents in emerging markets, behind Malaysia (51%) and Thailand (20%). Most of Vietnam’s green transformation technology patents are related to wind energy, waste management, air and water pollution reduction, and green buildings.

Meanwhile, in terms of digital transformation technologies, Vietnam accounts for only 8% of the total 537 patents of developing economies, behind Malaysia (58%), the Philippines (16%) and Thailand (11%).

Analysis from the World Bank Report shows that digital transformation is an important driving force to promote the success of green transformation and the dual transformation trend. This is also an inevitable trend that the Vietnamese business community needs to grasp to take advantage of new business opportunities as well as bring sustainable benefits to society and the environment.

At the workshop, delegates focused on discussing issues facing the dual transformation process in Vietnam today, especially in businesses.

These are prioritizing investment in science, technology and training of high-quality human resources; the principle of ensuring fairness, equality and a roadmap to minimize impacts on vulnerable groups in the process of digital transformation and green transformation.

The implementation of dual transformation requires close and comprehensive coordination of all relevant parties. In which, the state plays a leading role, creating an institutional and policy framework, providing initial support, and the business community plays a pioneering and core role in this process, especially large enterprises.

Strengthening international cooperation, exchanging experiences, and sharing information to keep up with the world's progressive trends, especially advances in science, technology, and innovation, is also a very necessary factor for dual transformation.

In this process, large international enterprises, corporations, and foreign-invested enterprises need to promote their leading role and support small and medium-sized enterprises in developing countries like Vietnam to carry out dual transformation.

Source: https://nhandan.vn/doanh-nghiep-dong-vai-tro-tien-phong-trong-chuyen-doi-so-chuyen-doi-xanh-post844409.html