HCM City (VNA) – Ensuring corporatesocial responsibility (CSR) and responsible business conduct (RBC) areimportant factors in promoting the sustainable development of businesses in thelight of global economic integration, heard a seminar in Ho Chi Minh City onJanuary 15.

The event, entitled “Responsible Supply Chain inAsia – Engagement of Strategic States”, was jointly held by the Vietnam Chamberof Commerce and Industry (VCCI)’s chapter in HCM City and the InternationalLabour Organisation (ILO).

Director of VCCI-HCM Vo Tan Thanh said theComprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)took effect in Vietnam on January 14, while the Vietnam-EU free trade agreement(EVFTA) is in the process of approval. This has opened up numerousopportunities for the Southeast Asian country to make inroads into majormarkets.

However, to enjoy the preferences of thesenew-generation FTAs, participating countries, including Vietnam, must complywith non-commercial commitments such as labour, environment, and corporatesocial responsibility, as well as factors to ensure sustainable development, henoted.

Over the past time, the VCCI has organised anumber of activities to improve the business investment environment in Vietnam,and increase the competitiveness of businesses in the international arena, hesaid.

From now until 2020, the VCCI and ILO willimplement a responsible supply chain project in Asia with a focus on supportingbusinesses operating in the two key export sectors of Vietnam: seafoodprocessing and timber processing, which are expected to obtain a lot ofopportunities in expanding markets as Vietnam joins the CPTPP and EVFTA.

Bui Thi Ninh, head of the VCCI-HCM’s bureau foremployers’ activities, said CSR and RBC are key to improving relations betweenemployers and employees. They not onlyhave great impact on the sustainable development of businesses, but also theirprestige and branding, she said.

Good practice of CSR and RBC will helpbusinesses reduce production costs, improve the efficiency of using resources,and increase revenue and profit, she added.

Chang-Hee Lee, Director of ILO Vietnam, saidVietnam has joined many supply chains of goods and services for large anddeveloped markets.

The practice of CSR and RBC will help promotesmart, sustainable, and inclusive growth for the business community, which inturn will improve their ability to access markets and optimise tariffpreferences from FTAs, he said.

At the seminar, experts suggested businessesthoroughly study the relevant provisions of FTAs that are about to take effect,and make active contributions to the building and amendment of legalregulations on businesses and employment.–VNA