Carbon mechanism prompts exporters to green up: Experts
The European Union (EU)’ Carbon Border Adjustment Mechanism (CBAM) is a challenge for many sectors of Vietnam but also a motivation for businesses to speed up green transition to meet sustainable production standards, heard a conference in Ho Chi Minh City on November 8.
HCM City (VNA) – The European Union (EU)’ CarbonBorder Adjustment Mechanism (CBAM) is a challenge for many sectors of Vietnam butalso a motivation for businesses to speed up green transition to meetsustainable production standards, heard a conference in Ho Chi Minh City onNovember 8.
Huynh Minh Vu, Deputy Director of the Ho Chi Minh City Centreof International Integration Support (CIIS), underlined that the EU is one ofthe most important trade partners of Vietnam and stressed that import policies of the union willhave a certain impact on Vietnamese exporters.
The CBAM, a policy of the European Green Deal (EGD), isexpected to help the EU reduce carbon emission by at least 55% by 2030 comparedto 1990. It is forecast to directly affect the goods supply chain ofbusinesses.
Do Huu Hung from the Europe-America Market Department under the Ministry ofIndustry and Trade said that the CBAM will impact Vietnam’s exports, initially steel andcement. At the same time, it is currently impossible to tell whether the EUwill expand the group of products applying the CBAM mechanism or not, he said, adding this mechanism, therefore is also a trendthat businesses need to consider from the beginning in the process of designingtheir production strategies.
The official held that in order to adapt to the common global trends,including the CBAM, sectors with export products should be clearly aware ofregulations and requirements of import markets. He advised businesses to greenup their production by investing more on clean technologies and power sufficientsolutions.
Businesses and stakeholders should coordinate with and conduct dialogues with theEU to ensure the CBAM is implemented in a fair and equal manner, he stated.
Dang Bui Khue, Training Manager at Bureau Veritas Vietnam, saidthat although so far only the EU has announced the CBAM, the greening up ofproduction is an indispensable requirement to protect the living environmentand maintain sustainable development.
As Vietnam has announced the commitment to net-zero emission by 2050, strengthened the replacement of fossil fuels with renewable anddeveloped green industry, sustainable agriculture and circular economy,businesses should actively build their own quality management system andrenovate their management and production process, he underlined.
Khue held that the application of taxes on carbon-intensiveproducts will prompt enterprises to speed up green transition but also motivatethem to join the carbon credit market, a promising market that will helpfirms create more added values./.
After the European Union (EU), the US will be the next to take its climate fight globally with the proposal of the Clean Competition Act, which, if passed, would impose border-adjusted carbon tariffs on its carbon-intensive imports.
Reducing emissions and targeting carbon neutrality have become common global goals that have also posed new requirements on Vietnamese businesses during international integration. Local businesses have been gradually adapting to these new requirements, striving to cut carbon emissions by introducing smart and innovative solutions and effectively using available resources.
Vietnam has paid due attention to energy transition as part of efforts to respond to climate change, highlighted Vietnamese trade counselor in Thailand Le Huu Phuc while attending the third Asian and Pacific Energy Forum (APEF 2023) in Bangkok on October 16-20.
Business transition in adaptation to a low-carbon consumption trend is inevitable for Vietnamese exporters who, in turn, should consider it a great opportunity to form relevant long-term visions and investments.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
Experts at the conference (Photo: VNA) 
