Trần Phú Lữ, director of the Investment and Trade Promotion Centre of HCM City, speaks at the seminar on “Enhancing the competitiveness of Việt Nam's manufacturing industry through dual transformation” in HCM City on June 28. — Photo courtesy of ITPC

HCM CITY — Combining digital and green transformations, also known as “dual transformation,” has become an urgent requirement for businesses to achieve their goals and fulfil their social responsibility, according to the Investment and Trade Promotion Centre of HCM City (ITPC).

Speaking at a seminar on “Enhancing the competitiveness of Việt Nam's manufacturing industry through dual transformation” in HCM City on June 28, Trần Phú Lữ, director of the ITPC, said dual transformation is an inevitable global trend.

But firms face challenges in achieving it in terms of database establishment, data analysis, usage and security, human resources, having transformation support systems, and, importantly, finding the right solutions for their businesses, he said.

He said the transformation is not only about applying technologies towards environmental protection but also changing production and business processes to improve operational efficiency and reduce emissions to achieve a green economy and a circular economy.

The dual transformation could help the manufacturing sector come up with synchronised plans, attract more foreign investment and enter deeper into global production value chains, he added.

Trần Hoài Nam, deputy chairman of ​the HCM City Association of Mechanical - Electrical Enterprises (HAMEE), said the transformation of production models and increase in the use of digital technologies associated with green production and green exports would play a key role in improving the competitiveness of Vietnamese goods.

He also said that, thanks to HCM City’s investment stimulus programme, a number of its mechanical and electrical companies have “boldly” invested in modern machinery and technology and embraced digital transformation.

As a result, they have more products to participate in global value chains.

The city’s exports of machinery and equipment and parts were worth more than US$912 million in the first four months of the year, a year-on-year increase of 40.6 per cent, and exports of computers and electronic products and components topped $5.4 billion, up 113 per cent.

But the mechanical industry only meets about 30 per cent of domestic demand, and so has room for growth if firms know how to take advantage of market opportunities and foster dual transformation, he said.

Lữ said for the past many years the city has promoted digital and green transformations.

It has focused on restructuring the economy in association with reforming the growth model and reducing greenhouse emissions through efficient use of energy and resources, digital transformation and application of digital technologies, developing green and sustainable infrastructure, and building a green lifestyle, he added.

Organised by ITPC and HAMEE, the seminar was part of the Week for Business Matching and Introduction of Products in Mechanics, Digital Technology, Electrical and Electronics Industry being held in HCM City from June 27 to July 3. — VNS