Dual transformation: A driver for sustainable economic growth

On the afternoon of October 30 in Hanoi, the forum titled “Dual Transformation – A Driver for Economic Growth: From Policy to Practice” was held by Business Forum Magazine in collaboration with relevant agencies under the direction of the Viet Nam Chamber of Commerce and Industry (VCCI).

Speaking at the event, VCCI Vice President Hoang Quang Phong emphasized that in the context of globalization and the Fourth Industrial Revolution, dual transformation—encompassing both digital and green shifts—has become a key factor in strengthening business competitiveness and fostering sustainable development.

According to the Ministry of Industry and Trade, adopting digital technologies and smart energy management systems can help enterprises reduce operating costs by 10–15%, increase productivity by 20%, and cut CO₂ emissions by 5–8% annually. McKinsey & Company estimates that digital transformation in manufacturing could boost labor productivity by up to 30% and reduce supply chain costs by 15–20%.

In practice, both digital and green transformations are advancing strongly across the manufacturing sector, improving internal capacities and contributing to Viet Nam’s commitments to sustainable development and the Net Zero target.

At the policy level, Resolution No. 57-NQ/TW and Resolution No. 68-NQ/TW of the Politburo outline key directions to promote the development of the private sector through innovation, digital transformation, green transition, and sustainable business models—aiming for Viet Nam to become a developed, high-income nation by 2045. These resolutions are being translated into concrete mechanisms and policies to support enterprises.

However, participants noted that gaps remain between policy intent and implementation. For dual transformation to truly become a driver of growth, stronger engagement from the business community is needed—not only as implementers but also as innovators and catalysts for change.

The forum served as a platform for policymakers, experts, and businesses to exchange insights and propose solutions to overcome challenges, ensuring Viet Nam’s dual transformation progresses faster, more effectively, and comprehensively.

Recommendations from the event will be compiled by VCCI and submitted to the Government and relevant ministries to help refine policies and create more favorable conditions for enterprises on their path toward sustainable development.