Vietnam's national strategy on green growth for the 2021-2030 period, with a vision to 2050, has set out many specific goals such as greening lifestyles and promoting sustainable consumption; greening economic sectors... However, for policies to be feasible and effective in practice, implementation needs to have specific, appropriate steps.

70% of businesses do not clearly understand green economy

As a force directly involved in the production process and promoting economic development, businesses play an important role in green growth. However, the challenge for many businesses in implementing circular economy and green development today is that they do not have much understanding of environmental standards and social responsibility.

According to the results of a survey conducted by the Department of Enterprise Development, Ministry of Planning and Investment, shared at the seminar "Green Development - Approach for Vietnamese brands" held in mid-August 2023, up to 70% of surveyed enterprises do not clearly understand what green economy, circular economy is as well as the benefits brought by these activities.

[caption id="attachment_372575" align="alignnone" width="650"] "Green living" customers can pay at the priority counter of AEON Vietnam (Photo: Ministry of Industry and Trade's electronic information portal).[/caption]

Enterprises also face difficulties due to limited resources for technological innovation. Green economy aims to use renewable energy, low carbon, invest in ecosystem restoration, solve livelihood problems associated with environmental restoration, so advanced technology is one of the prerequisites. However, compared to the world, production technology in Vietnam today is mostly old technology, consumes a lot of energy, poor waste treatment leads to low production efficiency, generates a large amount of polluting waste and increases greenhouse gas emissions. Clean energy production industries, such as: nuclear energy, wind, solar, biomass, geothermal... have not developed strongly enough to meet national energy needs.

According to a survey by the Department of Enterprise Development, Ministry of Planning and Investment, most of the pioneering enterprises in green production are FDI enterprises, public enterprises, enterprises with potential and export products. Small and medium enterprises mainly stop at the consideration level and have not yet taken comprehensive steps or made large investments.

Start with small actions…

To effectively promote policies in practice, many opinions say that businesses need to think correctly about green growth and implement them step by step according to their capabilities. “Businesses developing green do not need to think about macro things with large investments. Many actions, even small ones, still follow the standards of sustainable development such as saving energy, using recycled products, minimizing waste, etc., helping businesses step by step on the path to sustainable development. For example, a small restaurant takes just enough food for customers, without leaving any leftovers, that is also green development through anti-waste and minimizing waste,” said Mr. Lai Tien Manh, CEO of Mibrand Vietnam Joint Stock Company.

Many experts also believe that Vietnamese consumers are increasingly interested in a green living environment and tend to choose products from brands with sustainable development strategies, harmonizing business interests and contributing to making the community better.

In fact, many large domestic enterprises, especially foreign investors, when doing business in Vietnam have used green business strategies as a foundation for development and creating their competitive position. Since opening the first department store and supermarket in Vietnam in 2014, AEON Vietnam has used biodegradable bags (PHSH) to package goods throughout the AEON Vietnam system. In 2019, this retailer launched a project to reduce single-use plastic waste, focusing on initiatives to support customers and employees in making sustainable consumption decisions, gradually establishing the habit of bringing their own bags when shopping.

[caption id="attachment_372569" align="alignnone" width="600"] Items are reportedly wrapped in green banana leaves instead of plastic bags (Photo: Co.opmart Phan Thiet Supermarket).[/caption]

Lotte Mart has a separate area for environmentally friendly products such as bags, biodegradable cutlery, starch straws, bamboo straws and aims to become the first supermarket in Vietnam to not use plastic bags by 2025. Saigon Co.op supermarket system regularly cooperates with manufacturers to implement incentive programs for environmentally friendly products to stimulate consumption, helping green consumption become popular to many families...

Enterprises also need to approach innovation and green services. At the same time, they must affirm to the social community and management agencies the results of enterprises in implementing green development as well as being steadfast in their green development goals. Because green development is an investment that requires a long journey to produce clear results.

Thuy Duong