Foreign direct investment (FDI) titans like Samsung and LG were among the big winners at this year’s Golden Dragon Awards, held in Hai Phong City on 10 April.

The prestigious awards, now in their 23rd year, honor FDI companies demonstrating outstanding business results alongside a deep commitment to sustainable development in a rapidly evolving Vietnam.

The awards ceremony, a highlight of the Vietnam Connect Forum 2024, reflected Vietnam’s accelerating push toward a greener economy. Winners were lauded for their leadership in green transformation, circular economy models, low-emission practices, and adherence to environmental, social, and governance (ESG) standards.

Vietnam's FDI Magnet

Vietnam has become a magnet for FDI in recent decades, propelled by its young, dynamic workforce, strategic location, and government policies encouraging foreign investment. FDI has fueled the country's rapid economic growth, with multinational corporations setting up manufacturing hubs, technology centers, and service operations across the country.

"Sustainable and green development is an inseparable trend of today's global economy," stated Hong Sun, chairman of the Korean Chamber of Commerce and Industry in Vietnam (KOCHAM). "Korean companies...are determined to abide by our green and sustainable commitment in places where we operate, including in Vietnam."

Rigorous Assessment

The rigorous selection process for the Golden Dragon Awards whittled down 486 nominees to the top 50 outstanding FDI businesses. The winners represent diverse sectors, including manufacturing, finance, technology, infrastructure, real estate development, and even food and beverage. This year’s winners included well-known brands like energy giant AES, Deep C Industrial Zone, DHL - VNPT, Honda Vietnam, and Piaggio Vietnam etc.

Ten companies were further distinguished with top honors, among them global powerhouses Samsung, LG Display, Intel, Qualcomm, Heineken, HSBC, Lego, SCG, UOB, and Coca-Cola.

A Sign of Global Trust

For these multinational companies, the awards represent more than just recognition.

"This award shows that our current sustainability initiatives are on very good traction," affirmed LYM Di Chang, Country Head of Commercial Banking for United Overseas Bank (UOB) in Vietnam. "It also...sends a message to UOB headquarters in Singapore that our work here is progressing in the right direction."

Long-Standing Commitment

The Golden Dragon Awards were launched in 2001 by VnEconomy/Vietnam Economic Times. Their longevity underscores Vietnam’s enduring appeal as a destination for foreign investment, even as the country intensifies its focus on sustainable growth models in pursuit of ambitious net-zero goals set at COP26.

The Path to Net-Zero

Vietnam's emphasis on green FDI aligns with its commitment to achieving net-zero emissions by 2050. This pledge will require significant transformation across industries and substantial investments in renewable energy, sustainable infrastructure, and technology innovations.

The Golden Dragon Awards offer a glimpse of how foreign companies are rising to this challenge, setting a benchmark for a new era of investment in Vietnam.