And information about sustainable development has reached only 100,000 businesses.

While the Covid-19 pandemic continues, 98 percent of Vietnamese businesses remain indifferent to the poverty increasingly important model.

Vo Tri Thanh, a respected economist, said many businesses don’t want to pursue sustainable development because they think it would cost them much money.

But sustainable development brings practical economic benefits as it helps save resources and mitigates negative effects to the environment.

A representative of Nestle confirmed that when pursuing sustainable development, businesses can use resources more effectively and reduce production costs, and successfully manage risks in production and business.

Heineken Vietnam affirmed that it can save a lot of water, and reduce the amount of aluminum it needs by thousands of tons (for making beer cans), as well as recycle 99 percent of waste and by-products.

Biomass fuel, for example, can be used to brew beer, which can bring income of VND50 billion to farmers who sell their rice husks.

According to the World Business Council for Sustainable Development, the model of a circular economy alone can help create $7.7 trillion by 2030 for businesses and generate 380 million new job opportunities, while helping the sustainable development of the global economy.

VCCI’s Secretary General Nguyen Quang Vinh said Covid-19 is challenging business health. The businesses with strong commitments to patiently pursue a sustainable development strategy will have a higher resiliency than others, he said.

A survey by VCCI in September showed that 81 percent of businesses pursuing a sustainable development strategy can quickly adapt to new circumstances, boost e-commerce, develop online business, and carry out digital transformation, all of which helps reduce reliance on traditional business modes.

The survey found that businesses applying such a strategy can have higher productivity and production results.

VCCI Chair Pham Tan Cong said businesses need to change their thinking and pursue sustainable development as the only path that will help them stand firmly in the global market. Responsible business and sustainable development need to be commitments from businesses.

“Hundreds and thousands of dollars will be created from sustainable development, which will be an opportunity for all of us,” Cong said.

Deputy Prime Minister Vu Duc Dam affirmed that sustainable development is an irreversible trend. The Government of Vietnam has integrated sustainable development criteria into all of its socio-economic development strategies. 

Tran Thuy

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