Despite macroeconomic challenges, numerous businesses in Vietnam remain dedicated to allocating more resources for eco-friendly and sustainable development.
Following the most challenging year in 30 years for textile and garment exports, as reported by the Vietnam Textile and Apparel Association, Garco 10 is striving to expedite recovery and achieve growth in 2024.
Nguyen Quang Vinh, vice chairman of the Vietnam Chamber of Commerce and Industry (VCCI), evaluated the business community’s landscape in 2023 as a spectrum of contrasting colors, with the commitment to sustainable development goals evident in both quantity and quality.
At the 10th Sustainable Businesses in Vietnam awards held by VCCI and the Vietnam Business Council for Sustainable Development at the close of last year, nearly 25 percent of the nearly 500 registered business applications were from new businesses contributing for the first time.
According to a sustainability survey conducted by Schneider Electric for 2023, published in January, 99 percent of Vietnamese businesses stated that they have established goals for sustainable development. Nearly half of them have implemented or are in the process of implementing comprehensive strategies to fulfill their commitments, but there remains a gap between aspiration and action.
Based on a survey by the Enterprise Development Agency under the Ministry of Planning and Investment, 83 percent of businesses believe that adopting green production practices enhances their image and reputation. Additionally, 57 percent recognize the necessity of transitioning to green and sustainable production to expand into European and American markets and to find partners.