Phan Đình Tuệ (C), a member of Sacombank’s board of directors, receive the “HCM City Green Businesses in 2024” trophy and certificate at a ceremony on August 30. — Photo courtesy of Sacombank

HCM CITY — The HCM City Union of Business Associations and Saigon Giải Phóng newspaper awarded the title of “HCM City Green Businesses in 2024” to 98 businesses in the city for their efforts to achieve sustainable development at a ceremony on Thursday.

Nguyễn Ngọc Hoà, Chairman of HUBA, said many countries are adopting green requirements in the importation of goods to protect the environment and promote sustainable development, meaning that businesses must adopt green practices if they want to export their goods.

Initiated in 2023, the awards aim to acknowledge and encourage businesses that comply with waste treatment regulations, produce environmentally friendly products, and exhibit corporate responsibility in environmental protection towards achieving sustainable growth. Additionally, it seeks to support green businesses in promoting their brands, enhancing competitiveness, and integrating into the global economy.

Out of 120 dossiers submitted by enterprises in two industries -manufacturing and trading-service-real estate this year - 98 firms were chosen for this recognition through strict evaluation criteria.

They included Duy Tân Plastic Recycling Corporation, Phú Nhuận Jewelry JSC, Saigon Co.op, Saigon Thương Tín Commercial Joint Stock Bank, MM Mega Market, Central Retail in Việt Nam, Vissan, Tân Quang Minh Manufacture and Trading Co., Ltd., and Fashion Link Joint Stock Company.

Hòa emphasised, "In the context of global climate change and resource depletion, adopting green technology and investing in renewable energy is no longer an option but an imperative requirement. This will drive sustainable business practices.”

Võ Văn Hoan, vice chairman of the city People's Committee, noted that businesses that do not adopt green practices will struggle to participate in global supply and export chains, as many markets have made "green" a mandatory criterion.

He also expressed hope that businesses will accelerate their green transformation to extend their reach both domestically and globally. This will not only help them achieve sustainable development but also elevate the national brands.

Nguyễn Anh Đức, chairman of the Vietnam Retailers Association and general director of Saigon Co.op, said demand for green products in the domestic market grew by 15 per cent per year on average between 2021 and 2023. Additionally, 72 per cent of Vietnamese consumers are willing to pay more for green products, reflecting the increasing awareness and concern for environmental protection among consumers.

The award is part of the fifth HCM City Economic Forum to be held from September 24-27 under the theme "Industrial Transformation: A New Driving Force for Sustainable Development in Ho Chi Minh City." — VNS