Businesses Driving Sustainable Development in New Era

Within this framework, the private sector is recognized as the key driver, with enterprises of all scales pursuing innovation, overcoming difficulties, and capturing opportunities through sustainable business practices.

Mr. Binu Jacob, General Director of Nestlé Vietnam and Co-Chair of VBCSD, receives a VCCI medal for 15 years of contributions to sustainable development in Vietnam

Commitment to sustainable development

At the 12th Vietnam Corporate Sustainability Forum (VCSF), Deputy Prime Minister Ho Duc Phoc highlighted four major Resolutions of the Politburo as the foundation for transformation: Resolution 57-NQ/TW on advances in science, technology, innovation, and digital transformation; Resolution 59-NQ/TW on international integration; Resolution 66-NQ/TW on reforming law-making and enforcement; and Resolution 68-NQ/TW on private sector development. He referred to them as “four beacons” guiding the nation’s path, shaping a new environment and momentum to realize national goals.

He said that the private sector, particularly enterprises committed to sustainable development, will play a central role in implementing policy, advancing technology, creating quality jobs, and generating social value. He said that progress toward the 2030 Sustainable Development Goals (SDGs) has slowed: 48% of targets are off track, with 31% showing minimal improvement, 17% showing no progress, and 18% falling below the 2015 baseline. “The gap to achieve the 2030 Agenda is enormous and demands extraordinary efforts from all countries,” he emphasized. Nevertheless, Vietnam remains a bright spot in the region. The country’s SDG index rose from 57.6 in 2016 to 73.4 in 2025, up 27.4% in less than a decade, ranking second in ASEAN, after Thailand. Among the 17 goals, Vietnam continues to lead in “poverty eradication” and has made strong progress in “clean and affordable energy.” Notably, the indicator on “economic growth and employment” surpassed 80 points for the first time (from 75.82 to 80.38), reflecting post-pandemic recovery efforts.

Deputy Prime Minister Ho Duc Phoc called on Vietnamese businesses to be proactive, resilient, and pioneering in advancing sustainable development. He urged them to enhance innovation, adopt digital technology and AI, invest in core and green technologies, and integrate more deeply into global value chains. Sustainability, he emphasized, must align with social responsibility, environmental protection, and effective governance to build trust with investors, partners, and consumers. He also underlined the importance of promoting the circular economy, ensuring a just energy transition, achieving the net-zero emissions target by 2050, and seizing opportunities from new-generation FTAs. He said that Vietnam cannot achieve these goals alone, and appealed to development partners, international organizations, and the global business community to continue supporting the country through knowledge sharing, technology transfer, technical assistance, and access to affordable green finance.

To build a strong foundation for transformation, Deputy Prime Minister Ho Duc Phoc affirmed that the Government will prioritize four pillars: strengthening institutions and transparent legal frameworks, reforming administrative procedures, and digitizing public services to protect investor and business rights; investing in modern and synchronized infrastructure, especially in transport, energy, digital, logistics, and green industrial systems; developing financial tools such as green credit, green bonds, and green investment funds to support sustainable projects; and mobilizing domestic and international resources to drive technology innovation, enhance workforce skills, and assist enterprises throughout the transition process.

Entrepreneurs as “peacetime soldiers”

At the forum, Mr. Pham Tan Cong, President of the Vietnam Chamber of Commerce and Industry (VCCI), described entrepreneurs as “peacetime soldiers” accompanying the nation in building an inclusive and sustainable economy toward a strong, globally integrated Vietnam. He stressed that VCSF, as an annual platform, plays an essential role in turning guidelines, policies, and resolutions into practice, advancing institutional reform, strengthening national competitiveness, and creating a favorable investment environment. From an international perspective, Ms. Ramla Khalidi, UNDP Resident Representative in Vietnam, observed that the country is entering a new phase. With Resolution 68 of the Politburo and Resolution 198 of the National Assembly, the private sector is positioned at the center of national development. “This is not only a policy change but a change in mindset, and UNDP is proud to accompany Vietnam,” she said.

On the policy front, Ms. Trinh Thi Huong, Deputy Director General of the Department of Private Enterprise and Collective Economy Development under the Ministry of Finance, stressed that the Government regards the private sector as the key growth driver. Resolution 68 sets the goal that by 2045, Vietnam will have 3 million enterprises, contributing 60% of GDP, and taking the lead in innovation and competitiveness. She highlighted that many supportive policies are being advanced, including tax incentives, technology development funds, subsidies for R&D, digital transformation, and green transition. In particular, the Ministry of Finance is drafting a decree to provide 2% annual interest rate support for green and circular projects, expected to be issued soon.

From the FDI community, Mr. Binu Jacob, General Director of Nestlé Vietnam and Co-Chair of Vietnam Business Council for Sustainable Development (VBCSD), underlined that developing high-quality human resources is critical for driving sustainability. Nestlé has launched initiatives such as Nestlé Needs YOUth, the Nesternship program, and the “three-stakeholder” cooperation model: government, schools, and enterprises, to link training with labor market and technology needs. “This is a concrete action to realize our corporate commitment to sustainability and contribute to implementing Resolution 57-NQ/TW,” he said.

From the domestic business sector, Mr. Nguyen Hoang Giang, CEO of Saigon Beer-Alcohol-Beverage Corporation (SABECO), affirmed that ESG has become the company’s guiding philosophy, serving as a benchmark of value and success. In an uncertain world, ESG enables businesses to remain resilient while promoting inclusivity. SABECO aims to cooperate with the Government, partners, and communities to drive sustainable growth, strengthen resilience, and generate long-term value for both enterprises and the country.

Mr. Le Hoang Minh, Executive Director of Production at Vinamilk, said that the company has invested in plant-based milk products to reduce emissions, introduced eco-friendly packaging that saves VND50 billion annually, restored 25 ha of mangrove forest in Ca Mau, planted over 1.1 million trees, adopted emission-reduction technologies, and implemented smart warehouses to advance its Net Zero 2050 target.

Mr. Nguyen Quang Vinh, Vice President of VCCI and Chair of VBCSD, stressed that sustainability should not only be viewed as corporate social responsibility but also as a strategy for survival. Over the past 15 years, VBCSD has advanced communication, training, research, and international cooperation to ensure businesses remain committed to responsible and sustainable growth. Concluding the forum, he emphasized: “The forum’s recommendations will be reported to the Government and the National Council for Sustainable Development, to translate the four Resolutions into business practice, toward realizing Vietnam’s Vision 2045 of greener, more prosperous, and more inclusive development.”