The HCM City Union of Business Associations and Saigon Giải Phóng newspaper sign an agreement to organise the 2023 Green Business award in HCM City on May 31. — VNS Photo

HCM CITY — The HCM City Union of Business Associations and Saigon Giải Phóng newspaper have launched the “Green Business” awards to honour businesses that comply with waste treatment regulations and produce environment-friendly products.

They will also provide firms with information about green technical barriers to trade in the domestic and export markets, and help them find the means to achieve green development.

Speaking at a ceremony held to announce the institution of the awards in HCM City on Wednesday, Tăng Hữu Phong, the newspaper’s editor-in-chief, said green growth and circular economy are becoming global trends as part of efforts to reduce greenhouse gas emissions and achieve carbon neutrality and sustainable development.

They are also giving rise to new trade and investment rules, with import markets imposing high taxes on products with large carbon footprints and setting stringent environmental regulations for imports, he said.

Nguyễn Ngọc Hòa, HUBA chairman, said: “Developing a green economy and circular economy is a mandatory and vital direction not only for businesses but also the country as a whole.”

But it is “not easy” considering the resources possessed by Vietnamese enterprises, he admitted.

“A HUBA survey of member businesses … found that businesses not meeting green standards find it difficult to procure new orders while those that meet green standards receive a lot of orders, with some even being overloaded with orders.”

The city People’s Committee had urged HUBA and the newspaper to give away the annual awards this year during the fourth HCM City Economic Forum titled “Green growth - The Journey to Zero Emissions” to be held in September, he said.

The successful conversion to green standards would enable businesses to enter the international market more confidently, he added.

The winners of the awards will be chosen by a panel of judges comprising leading economic and environmental experts.

The awards ceremony will be held in the second week of September. — VNS