Hanoi (VNA)𒉰 - The business community has plays a central role in advancing the sustainable development agenda in Vietnam, Deputy Prime Minister Ho Duc Phoc said at the 12th Vietnam Corporate Sustainability Forum (VCSF) in Hanoi on August 22.
Phoc, who also chairs the National Council on Sustainable Development, called firms “the place where creative ideas become reality, where new business models take shape and where Environmental, Social and Governance (ESG) standards take root".
He praised the Vietnam Business Council for Sustainable Development (VBCSD) under the Vietnam Chamber of Commerce and Industry (VCCI) for its 15-year journey in promoting responsible business practices. The Government will continue to act as a development enabler and companion of enterprises, Phoc stressed.
To support the transition, policies will focus on four key pillars: completing institutions and legal frameworks to ensure a favourable business environment; developing strategic infrastructure in transport, renewable energy, digital connectivity and climate resilience; boosting green finance and sustainable credit markets; and mobilising social and international resources to help enterprises adopt green and digital business models and improve their competitiveness in global value chains.
This is the time for businesses to accelerate transformation, to innovate and to embrace sustainable practices as part of their growth strategy, the Deputy PM said, noting that 2025 marks a critical juncture as it is the final year of the current five-year socio-economic development plan and the foundation for Vietnam’s path towards becoming a high-income country by 2045.
VCCI Chairman Pham Tan Cong said over the past 12 years, the forum has been a platform for dialogue and policy advocacy, helping translate the Party and Government's resolutions into practice, while enhancing Vietnam’s competitiveness and investment climate.
Marking VBCSD’s 15th anniversary this year, he reaffirmed the council’s role in connecting the Government, businesses and partners to advance sustainability.
VCCI Vice Chairman and VBCSD President Nguyen Quang Vinh echoed this view, stressing that sustainable development must be considered a “survival strategy, not merely a matter of corporate social responsibility”.
He said VBCSD will continue to expand awareness, training, international cooperation and partnerships to strengthen business commitment to sustainable and responsible growth, helping Vietnam move into a new era of greener, more inclusive prosperity.
A recurring theme at the forum was the importance of high-quality human resources in sustaining long-term growth.
Binu Jacob, General Director of Nestlé Vietnam and co-chair of VBCSD, said nurturing young talents is a key pillar of the company’s strategy and a decisive factor for Vietnam’s development.
Binu Jacob, General Director of Nestlé Vietnam and co-chair of VBCSD receives the VCCI Medal 'For the Development of Vietnamese Business'. (Photo: VNA)
“Through initiatives such as Nestlé Needs YOUth and the Nesternship programme, we want to create opportunities for young people to unlock their creativity and contribute to national progress,” he said.
Nestlé has also teamed up with Vietnam National University-Ho Chi Minh City to promote the 'three-party cooperation' model linking the Government, academia and enterprises, aligning education with market and technological needs.
“These are concrete actions to realise our commitment to a green, inclusive and sustainable future in line with Resolution 57-NQ/TW of the Politburo on science, technology, innovation and digital transformation,” he said.
For his contributions, Jacob received the VCCI Medal 'For the Development of Vietnamese Business' during the event.
Nguyen Hoang Giang, general director of Saigon Trading Co.Ltd (SATRACO), a member of SABECO, said that sustainability in the new era requires measurable and consistent action, not just vision statements.
“At SABECO, ESG is not a slogan but a philosophy of operations. It defines how we create value, measure success and uphold social responsibility,” he said.
“In a world of uncertainty, ESG strengthens resilience. We want to grow sustainably together with the Government, partners and the community, so that no one is left behind and the value we create endures for both the company and the country,” he said.
The forum, held annually since 2014, attracted over 400 delegates in person and thousands online, featuring more than 30 speakers. Discussions covered green transition practices, ESG strategies and innovation ecosystems to support sustainable business models./
The newly-issued Resolution No. 68-NQ/TW of the Politburo on the development of the private economic sector has garnered strong support from experts and the business community.
Prime Minister Pham Minh Chinh affirmed that Vietnam always listens to and understands the opinions of businesses at a dialogue between leaders and the business community on Public-Private Partnership for innovation and sustainability held in Hanoi on April 17 within the framework of the 4th Partnership for Green Growth and the Global Goals 2030 (P4G) Summit.
Party General Secretary and President To Lam affirmed the Party and State’s special attention to the Vietnamese business community while meeting with a delegation of the Vietnam Association of Small and Medium Enterprises (VINASME) in Hanoi on August 22.
Singapore’s United Overseas Bank (UOB) has boosted its 2025 GDP growth forecast for Vietnam to 7.5% from 6.9%, pointing to the economy’s resilience and dynamism despite tariff risks and uncertainties.
Spanning 8.4ha of gross floor area and rising to 30m, the package requires advanced steel–concrete solutions, synchronised execution and accelerated progress within 330 days.
Through this partnership, VinFast Philippines, a subsidiary of Vingroup JSC, one of Vietnam's largest conglomerates, will leverage on BDO's comprehensive suite of financial solutions including cash management, consumer banking, leasing, and insurance services and create tailored financing programmes for both retail and corporate customers.
Under the new system, passengers without checked luggage simply check in via VNeID or a kiosk, undergo facial recognition at security, and board by scanning their face. Those with baggage drop it at a counter before entering the same automated flow.
Vietnam values its international partnerships, including with the UK, Finance Minister Nguyen Van Thang noted, urging UK companies, funds and financial institutions, and those from Europe and worldwide, to continue expanding investment, transferring know-how, sharing management experience and advancing green finance and technology to realise Vietnam’s sustainable development vision.
Vietnamese Minister of Finance Nguyen Van Thang expressed gratitude for the UK’s active role in supporting Vietnam’s efforts to draft a National Assembly resolution on creating an international financial centre. The City of London, he noted, provided pivotal insights and recommendations to shape the groundwork and development roadmap for this hub.
Vietnam is ready to deepen economic cooperation with the Association of Southeast Asian Nations (ASEAN), China and other partners, embracing a strategy of “harmonised interests and shared risks” as it leverages its fast-growing economy and market of over 100 million people.
Tay Ninh, Nghe An and Quang Tri provinces have strategic locations and significant cooperation potential, said Nguyen Thi Thai Binh, Minister-Counsellor at the Vietnamese Embassy, expressing confidence that with creativity and determination, these provinces and their Korean partners will find ample opportunities for productive collaboration.
Jointly organised by the Vinexad National Trade Fair and Advertising JSC and Yorkers Exhibition Service Vietnam, the event features 1,200 booths of more than 650 exhibitors from 20 countries and territories, including Germany, India, Indonesia, Italy, Japan, the Republic of Korea, Singapore, Switzerland, Thailand, and the US.
Public investment should serve as a key driver of growth, acting as seed capital to catalyse and mobilise all social resources, thereby fostering economic expansion, creating jobs and livelihoods, and improving the material and spiritual well-being of the people, PM Pham Minh Chinh stated.
An official of the Foreign Trade Agency laid stress on the foundational role of rules of origin in international trade, highlighting the importance of capacity building for enforcement officers in the context of deep international integration.
Against the backdrop of the growing comprehensive strategic partnership between Vietnam and Russia, the promotion and export of Vietnam’s agricultural products not only diversify supply sources for the Russian market but also help enhance the brand values and competitiveness of Vietnamese enterprises in the market that remains untapped.
International trade is no longer merely an exchange of goods but a strategic lever enabling Vietnamese enterprises to enhance capacity, secure partnerships, and expand globally.
In the first eight months of 2025, Vietnam’s total trade value reached nearly 600 billion USD, up 16.3% year on year. Of this, exports stood at 306 billion USD, a 14.8% increase, already surpassing the full-year target.
Vietnam aims to maintain macroeconomic stability, control inflation below the target, achieve growth of 8.3-8.5%, ensure major economic balances, surpass budget revenue estimates by 25%, and control public debt, government debt, foreign debt, and budget deficit.
Reaffirming Vietnam’s commitment to foreign investors, Finance Minister Nguyen Van Thang said government policies always aim to ensure transparency, fairness and a mutually beneficial environment that promotes innovation and safeguards investor rights, making Vietnam a sustainable and long-term investment destination.
The State Bank of Vietnam must launch an official gold price information portal, study the establishment of gold exchanges, and issue guiding documents to implement the Government’s decree on the management of gold trading activities.
According to the World Bank Group, Vietnam will need approximately 368 billion USD in investment for climate adaptation and carbon reduction projects by 2040. Yet, as of the end of 2024, green credit accounted for just 4.5% of the country’s total outstanding loans.
