Above is one of issue stated by Deputy Prime Minister Vu Duc Dam in the meeting with Vietnam Business Council for Sustainable Development (VBCSD)’s Executive Board. The meeting is held under the scope of the 4th Vietnam Corporate Sustainability Forum (VCSF 2017), happened in Ha Noi on October 10.

Reported in the meeting, Mr. Nguyen Quang Vinh, VBCSD Vice Chairman, stated that actions to standardize sustainable development among enterprises had been taken since the last forum in 2016.

For example, Vietnam Chamber of Commerce and Industry (VCCI) has released the Corporate Sustainability Index (CSI). Ranking and benchmarking for corporate sustainability has been processed. Suggestions for sustainable development regulations has been presented to authorities.

VCSF 2017 is held under the topic “Scaling-up business solutions to sustainability challenges”. Entrepreneurs’ representatives and economic professionals has discussed on the build of sound business environment for the innovation of sustainability solutions. This targets at earning benefit for enterprises and solving social and environmental issues. Noticeably, the notion of Circular Economy has been on board, set the beginning for Vietnam Centre for Circular Economy and the very first project called “Zero Waste to Nature”. A set of standard for agricultural sustainability supporting has been called.

Deputy Prime Minister Vu Duc Dam at the meeting with VBCSD's Executive Board

Mr. Vu Tien Loc, VCCI President, insisted that a sustainable economy is not only friendly and humanistic but also setting chance for entrepreneurs. According to “Better Business-Better World” report from Business and Sustainable Development Commission, till 2030, sustainable development can create uncountable benefit for society and environment, a market that work 5 thousand billion USD, and 230 million jobs – which is approximately 12% of total labor recently.

From the preliminary result of the Forum, Deputy Prime Minister Vu Duc Dam assumed that more efforts need to be devoted to foster innovation and business engagement in the deployment of UN’s 17 SDGs. In recent, macroeconomics has positive evolvement due to the vital role of business community. However, better growth required more jobs, entrepreneurs, shift in economic structure and improvement of human resources, especially in a changing global market. This is the result from Industry 4.0 and world trade movement. Therefore, Vietnamese business community need more motivation to catch up with those opportunities and advantages.

“Resolution no.19, no.35 and other direction of the Government are all for creating a favorable conditions for startups and developing entrepreneurs, then generating jobs, leveling up productivity and improving national competitiveness”, said Mr. Vu Duc Dam.

Sustainable Development is not only the ground for conglomerates

He also affirmed that sustainable development can only be successful with the engagement of all entrepreneurs, therefore, hoping VBCSD could normalize the notion for SMEs and startups.

“It is understanding that sustainable development is the ground for conglomerates. We need to change it so that any business get it since their very beginning.”

“VCCI and mediators such as VBCSD need to build more dialogues between enterprises, authorities and others so that we can together facilitating the form and carrying out of regulations. The Government hope that managing process would foster business development.” He emphasized.