Vietnam: on the road to a digital and green transition

The "Taking the Lead Dual Transition for a Greener Vietnam" conference was held on November 12 in Hanoi, bringing together representatives from ministries, international organizations, as well as domestic and foreign companies committed to digital and green transformation in Vietnam.

"We come together to share solutions on digital transformation, green transformation, dual transformation, innovative applications, ESG initiatives and experiences in accessing green capital.... Some of these solutions have been implemented recently and have achieved good results for companies, the community and the country as a whole. However, we are still facing complex problems closely linked to the dual transition process, in particular the issue of resource mobilization, which require solutions", he said.cess solutions," said Lê Trong Minh, editor-in-chief of the Dâu Tu (Investments) newspaper, organizer of the event.

"This is therefore a crucial moment to recognize and reassess Vietnam's competitive advantages and potential, as well as the mechanisms and policies in place. With this in mind, we have chosen the theme of this conference - Pioneering Dual Transformation for a Greener Vietnam -" he added at the event's opening session.

At the ^26th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP26), the Vietnamese government pledged to achieve carbon neutrality by 2050. The country reaffirms its intention to take significant measures to reduce greenhouse gas emissions, accelerate green transformation and the energy transition. For Vietnam, green transformation, digital transformation and innovation are strategic imperatives and absolute priorities for rapid and sustainable development, enabling the economy to transform from brown to green.

To accompany the government on this path, business support in Vietnam is essential. The government has already made profound changes, with many practical and effective actions in investment and business activities, in line with the two major trends of digital and green transformation.

Lê Viêt Anh, Head of the Department of Science, Education, Natural Resources and the Environment of the Ministry of Planning and Investment, said that the conference would be an important opportunity to discuss the future of China's economy.Investment, said the conference creates opportunities for direct exchange between management bodies, experts and the business community. "It also enables participants to discuss effective solutions, concrete actions and ideas that can be replicated in the business community, thus contributing to helping Vietnam achieve its dual transformation goals for sustainable development," shared Mr. Viêt Anh.

During the discussions, the experts emphasized that double transformation is a key driver for businesses geared towards sustainable growth. They also highlighted the benefits of this transition, while warning of the risks for companies that fail to adapt. According to the participants, Vietnam has become a dynamic player in the global economy, where digital and green transformation is acting as an important catalyst for the country's growth and development. These transformations are not only inevitable and irreversible trends, but also an essential strategy for the sustainable development of the economy.

The interaction between digital and green transformation creates a synergy that reinforces the benefits of both. Digital transformation not only modernizes the economy, it also provides powerful tools to promote green growth, while green practices accelerate the adoption of sustainable digital solutions.

Dô Lê Thu Ngoc, Head of the Inclusive Development Office of the United Nations Development Programme (UNDP), explained that the dual transformation, thanks to the efforts of the Vietnamese government and many development organizations, has already had a positive impact on business in Vietnam. "However, we find that large companies are often more reactive and move more easily from awareness to action. Small and medium-sized enterprises (SMEs), on the other hand, are mostly still in the awareness phase and have yet to make any significant changes. As for microenterprises, cooperatives and sole proprietorships, they have hardly initiated any double transformation", she added.

In the Vietnamese context, where almost 98% of enterprises are SMEs,^Ms Thu Ngoc stressed that it is crucial to ensure that the transition is not only carried out by large companies, but also by SMEs to guarantee sustainable development.

The delegates also stressed that the dual transformation requires significant capital resources, raising the question of available financing to facilitate access to green capital. They also recognized Vietnam's competitive advantages, particularly in terms of preferential mechanisms and natural and human resources, which are conducive to achieving this double transformation.

Truong Bùi, Managing Director of Roland Berger Vietnam, declared that Vietnam's dual transformation strategy will be "a new engine for sustainable socio-economic growth. The green transition will minimize the environmental impact of industrialization, guarantee long-term sustainability and meet global environmental standards". He added that, at the same time, digital transformation will stimulate innovation, improve operational efficiency and open up new market opportunities.

By integrating these two priorities, he added, "Vietnam is strengthening its position as a preferred destination for high-grade foreign direct investment. s clear commitment to sustainable, technology-driven economic development. This strategic approach will also enable Vietnam to move up the global value chain, strengthening its competitive edge in the international marketplace".

Participants were also able to listen to testimonials and practical experiences from companies pioneering innovation and the implementation of green and sustainable initiatives. The companies present shared solutions for optimizing available resources, reducing the costs associated with green and digital transformation, and spreading these values throughout the community. They also proposed strategies for accessing green financing, as well as practical advice for overcoming obstacles together.

In particular, a number of solutions were put forward to resolve difficulties linked to management mechanisms with regulatory agencies.

At the conference, Scott James, Consul General and Trade Commissioner for New Zealand in Vietnam, shared someflexions on New Zealand's approach to sustainability and how the country can strive to be globally responsible.

On this occasion, the Dâu Tu newspaper launched its annual special issue on sustainable development 2024, with the theme "Pioneering the double transformation for a greener Vietnam".

The issue, published annually by the newspaper, aims to share valuable information and practical experiences in sustainable investment, production and business activities.

It is a source of inspiration to encourage stronger action in key areas such as digital transformation, green transformation, green investment, energy transition, sustainable agriculture, green finance, and high-tech healthcare, helping to promote green growth and sustainable development.

Source: lecourrier.vn/