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Firms need to go green to tap global markets

Update: March, 13/2019 - 09:00
The trade for sustainable development (T4SD) hub in Việt Nam project was launched in Hà Nội on Tuesday. — Photo
Viet Nam News

HÀ NỘI — Businesses must step up to the plate and obtain green product certification as more and more people are eating healthier around the world.

That was the message from Vũ Bá Phú, director of Việt Nam Trade Promotion Agency under the Ministry of Industry and Trade who feels enterprises must get the right certification in order to penetrate the global market.

The consumption of green-certified products is becoming a trend in many countries, especially in developed ones.

He was speaking at the launch of workshop titled trade for sustainable development (T4SD) hub in Việt Nam held in Hà Nội on Tuesday.

Phú said sustainable development had become a prime target of most countries in the world as green growth tops product demand.

“In Việt Nam, green growth has been defined as a strategy toward sustainable development,” he said.

“In reality, firms applying green technologies would have big opportunities in attracting investment, customers and increasing their value despite of initial challenges.

“This could be an opportunity for Vietnamese financial institutions and businesses when promoting green finance, bringing sustainable benefits to community,” he said.

He added that most Vietnamese companies don’t have the correct framework to ‘go green’ due to financial restraints and climate change.

This, he said, is the reason the project aims to support firms and help develop more environmentally friendly products.

“Catching up to the global trend, the commercial project for sustainable development in Việt Nam aims to enhance competitiveness of Vietnamese enterprises and support them to effectively participate in the international value chain through grasping and integrating sustainable business strategies,” he said.

The project would be implemented within two years, focusing on three targets of providing technical supports to businesses, sustainable solutions through well-design tools of International Trade Centre (ITC) and guiding them to develop greener products.

In addition, the project would also help firms access markets and locate products internationally as well as helping them access loans.

Nguyễn Bảo Thoa, an advisor of the project said capital was one of difficulties developing sustainability because businesses need tens of millions of dollars to change the entire technology, equipment and process.

Therefore, supporting enterprises is an important factor for them to successfully transform from unsustainable to sustainable development. This capital will be invested in technology, improving their capacity, awareness and techniques.

The project will also be launched in HCM City today. — VNS

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