Workers at Yến Sào Xứ Thanh Production and Trading Co in Thanh Hóa Province. VNA/VNS Photo Tuấn Anh

HÀ NỘI — Responsible business is a core element of corporate culture and a decisive factor in enhancing competitiveness, Chairman of the Việt Nam Chamber of Commerce and Industry (VCCI) Phạm Tấn Công has said.

Công emphasised that responsible practices not only strengthen the reputation of individual enterprises, but also contribute to elevating the image of the entire nation on the global stage.

Moreover, it helps minimise risks, particularly legal risks, during the process of international integration, Công added. 

According to Công, many Vietnamese companies have begun to adopt a more holistic view of profit and investment returns, one that encompasses not only economic gains, but also social responsibility and environmental sustainability.

Businesses are increasingly going beyond legal compliance to address societal interests and environmental concerns, Công said, adding that this includes efforts such as addressing labour and employment issues, tackling environmental challenges, combating bribery and corruption and actively participating in community development.

He noted that responsible businesses not only contribute to economic performance but also play a vital role in fostering a sustainable living environment and promoting good governance throughout the supply chain.

A representative from the Ministry of Culture, Sports and Tourism, said that cultural values are the foundation of sustainable development in the business sector.

She said that long-term success requires more than the pursuit of profit, it demands a strong cultural base embedded in a company’s philosophy, mission, vision and day-to-day interactions with employees, partners and customers.

Phạm Hồng Thanh, former deputy director of Viettel Academy and vice president of the Nam Định Business Association in Hà Nội, said that business ethics are an inseparable part of corporate culture. In today’s digital era, every action, no matter how subtle, leaves a trace, making silent or unnoticed decisions a thing of the past.

According to Thanh, business today cannot exist without responsibility. Without it, there is no brand and even employees may walk away. Irresponsible conduct can also lead to serious legal consequences.

Thanh noted that responsibility is no longer a matter of choice, but a fundamental prerequisite for long-term success. It is the root of sustainability, shaped by the ethical boundaries that every businessperson must recognise.

He also outlined three key pillars of corporate social responsibility including responsibility for products, responsibility for employees and responsibility for the nation.

Expanding on the topic of corporate responsibility, Thanh stressed that product responsibility is one of the most critical aspects, as it is directly affecting consumers and reflecting the very honour and survival of a business.

For any enterprise, products are its lifeblood. A product is more than just a commodity, it is what shapes customer trust, loyalty and long-term brand identity, he said. 

For example, if a product can be sold for VNĐ6 million, but the company can produce it with a profit margin of VNĐ5 million, then the decision to price it at VNĐ5 million or VNĐ6 million is not merely a financial one, it is a matter of the leader’s conscience.

While underscoring the importance of ethics as the foundation of brand identity, within the business community, Phan Xuân Thủy, deputy head of the Central Dissemination and Mass Mobilisation Department, urged businesses to adhere to legal standards, foster innovation, and actively contribute to addressing societal issues.

Thủy also called on VCCI and business associations to continue promoting the six ethical codes for Vietnamese entrepreneurs, strengthening the connection between businesses and national cultural values; and recommended that the Government enhance institutional frameworks to ensure a transparent business environment that supports sustainable development.

A representative of Quảng Ngãi Sugar Joint Stock Company (QNS) shared practical insights into how responsible business practices have played a pivotal role in the company’s recent achievements.

By prioritising responsibility in relationships with shareholders, employees, customers, partners and the broader community, QNS has seen a steady rise in brand reputation and market confidence. — VNS