At the seminar "Green transformation: From pressure to business opportunities", organized by Nguoi Lao Dong newspaper on February 19, Associate Professor, Dr. Nguyen Dinh Tho, Director of the Institute of Strategy and Policy, under the Ministry of Natural Resources and Environment, said that one of the important factors of the green economy is green finance, based on the carbon market. Due to the lack of green finance, many businesses have to struggle to carefully calculate the problem of reinvestment, innovation of production lines and environmental improvement...
"Therefore, if Vietnam wants to green its economy, 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 implementing its commitments to respond to climate change, towards the goal of achieving net zero emissions by 2050," said Associate Professor, Dr. Nguyen Dinh Tho.
Mr. Lim Dyi Chang, Head of Corporate Banking at UOB Vietnam, said that Vietnam is making significant progress in the green transition process, striving to balance economic growth and sustainable development. In particular, financial institutions play an important role in promoting green growth through supporting policies and providing credit for environmentally friendly projects.
"Recently, Vietnamese banks have provided about VND650 trillion in green credit, of which nearly 45% has been allocated to renewable energy projects. However, the proportion of green finance in total outstanding loans is still limited and long-term capital for sustainable projects has not met actual needs. At UOB Vietnam, the unit is also actively participating in this process with a series of initiatives to expand the green trade finance portfolio. Accordingly, the bank has funded 17 renewable energy projects, while continuously expanding the scale of sustainable finance," Mr. Lim Dyi Chang added.
According to Mr. Lim Dyi Chang, to accelerate the green transition and move towards the Net Zero target, businesses need a multi-dimensional approach to support the economy to shift from a traditional model to a green economy. In addition, the Vietnamese Government needs to continue to improve the legal and policy framework to facilitate businesses to apply green technology and sustainable practices.
"In particular, green transformation also needs to be synchronized with the digital transformation process that is taking place strongly 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.
Mr. Dinh Hong Ky, Vice President of the Ho Chi Minh City Business Association (HUBA), said that currently, about 90% of Vietnamese enterprises are small and medium enterprises (SMEs), but investment in green transformation is limited. The reason is that SMEs face many difficulties in the green transformation process, from finance, human resources to technology and awareness... The units and enterprises that boldly carry out green transformation are large corporations.
According to Mr. Dinh Hong Ky, one of the biggest barriers to green transformation is finance. Statistics show that about 65% of businesses have difficulty accessing capital to implement green projects. Although there are financial support mechanisms, getting this capital to the right target is still a big challenge. In addition, the issue of human resources is also a worrying factor. Only about 12% of businesses in Ho Chi Minh City have a team of personnel with expertise in ESG (environment, society and governance), which is a major obstacle to the transformation process. Vietnamese businesses believe that production and business need green capital, but products that comply with green standards also need stable output.
Mr. Nguyen Thai Viet Huy, Chairman of the Board of Directors of Saty Holding Investment Joint Stock Company, also said that although the company specializes in investing in sustainable agriculture, after a period of investing in green technology in agriculture, Saty Holding realized that farmers are willing to change their production methods to move towards an environmentally friendly model. However, one of the major barriers that producers are concerned about is the lack of output for green products, especially when the market does not have a clear distinction between sustainable agricultural products and traditional agricultural products.
"To solve the problem of lack of output for green products, the company is connecting with green factories, bringing clean agricultural products into the kitchen systems of businesses committed to using environmentally friendly products. This is considered a potential direction, both helping to ensure output for farmers and creating a sustainable green supply chain, contributing to increasing the value of Vietnamese agricultural products in domestic and foreign markets," said Mr. Viet Huy.
According to Mr. Dinh Hong Ky, it is very difficult for small and medium-sized enterprises to find outlets for green transformation products in the agricultural sector. Therefore, in the long term, if Vietnam's high-tech agricultural sector wants to transform green, it must first learn how to transform digitally. Digital transformation here means improving labor productivity, product quality... by automating many stages of plant - animal - seed care.
"Currently, some companies such as Vinamilk and Phuc Sinh are considered green enterprises, great examples of increasing the value of agriculture and agricultural products. That is Vietnam's strength, so first of all, 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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