A view of the forum that takes theme of “Gaining a competitive edge – sustaining the future through the 2024 Vietnam ESG Initiative." (Photo: VNA) With the theme of “Gaining a competitive edge –sustaining the future through the 2024 Vietnam ESG Initiative,” the forum was organisedby the Agency for Enterprise Development under the Ministry of Planning andInvestment (MPI) in coordination with the US Agency for InternationalDevelopment (USAID) through its Vietnam Improving Private SectorCompetitiveness Project (IPSC).
The participants also discussed what businesses shoulddo to meet new requirements, and corporate administration strategies in the newcontext, among other issues.
Pham Thi Ngoc Thuy, Director of the Office of the PrivateEconomic Development Research Board (IV Board), said amidst global economicintegration, Vietnamese businesses are facing many challenges in meeting stringentrequirements for green, sustainable development set by investors, partners, andinternational markets and consumers, noting ESG practices would help them notbe left behind on the path towards green growth.
Some participants said green, sustainable transitionrequires huge investments, thus long-term investment visions in cutting-edgeand energy-saving machines should be set out.
They also suggested the establishment of ESG committeesat listed companies with their own personnel.
The forum provided a panorama picture of sustainable transformationrequirements at home and abroad, as well as their impacts on Vietnamese firms,and updates on the Vietnam ESG 2024 Initiative
The 2024 Vietnam ESG initiative, co-launched by USAID and the MPI, encouragesbusinesses to align sustainable development strategies with their businessgoals to seize new opportunities in the context of green transition, andimprove their competitiveness when joining the globally supply chain.
Enterprises, cooperatives and business households thatare committed to taking actions to deploy and apply ESG practices, transform orexpand a sustainable business environment are encouraged to register for theinitiative before 5:00 p.m. on March 31, 2024.
They should visit //esg.business.gov.vn/esg-vietnamor Facebook: //www.facebook.com/usaid.ipsc.to learn more about the eligibility criteria.
Participating businesses will receive support to approachdomestic and foreign partners that will help them with sustainable businessecosystems, improve their reputation, and attract clients, partners andrelevant sides.
Notably, three selected enterprises will receivetechnical support valued at up to 2 billion VND (81,000 USD) to pilot,implement, or roll out ESG initiatives towards green transition./.
VNA
