Addressing the 12th Vietnam Corporate Sustainability Forum (VCSF), with the theme "Sustainable Development in New Era,” held in Hanoi on August 22, Deputy Prime Minister Ho Duc Phoc stated that the Government is committed to practically and effectively accompanying businesses in every step of the transition process, according to a report from the Government News.

The Deputy Prime Minister held that Vietnam is among the fastest-growing economies in the world and the second best performing country in Southeast Asia in terms of the Sustainable Development Goals (SDGs).

He urged enterprises to step up innovation, apply high technology, digital technology, and artificial intelligence, and make strong investments in developing core and foundational technologies in order to participate more deeply in global value chains.

Sustainable development must go hand in hand with social responsibility, environmental protection, and effective governance, thereby building trust with domestic and foreign investors, partners, and consumers, Deputy Prime Minister Phoc stressed, as quoted by the Government News.

It is necessary to strongly promote the circular economy model and a just energy transition, contributing to Vietnam's COP26 commitment to achieve net-zero emissions by 2050, stated the Deputy Prime Minister.

He called on enterprises to make more effective use of new-generation free trade agreement (FTAs) and quickly expand into new markets in addition to major and traditional ones.

He reiterated that the Government will continue improving institutions and policies, creating a favorable and transparent legal framework, and focusing on administrative procedure reform and digitalization of public services to ensure the legitimate rights and interests of investors and enterprises.

Priority will be given to investing in modern, synchronized, and sustainable infrastructure—particularly in transportation, energy, digital and telecommunications infrastructure, logistics, and industry towards green, sustainable, and environmentally friendly manners, affirmed the Deputy Prime Minister.

The Government will promote the development of financial instruments such as green credit, green bonds, and green investment funds to effectively support capital for sustainable development projects, he said.  

The Deputy Prime Minister asserted that the Government will strengthen the mobilization of social and international resources to support enterprises in technology innovation, workforce upskilling, and technology transfer.