Green transformation is quickly becoming a new global marketplace standard - on par with digital transformation. Together, these twin transitions are forming a double pressure point that Vietnamese enterprises must respond to or risk being shut out of export markets.

The journey toward a dual transformation

While digital transformation was once seen as a technological race, green transformation is now considered a non-negotiable rule of the global economy.

Vietnamese enterprises are no longer debating whether to act - but when and how. Should they act early or late, strategically or reactively? The pairing of digital and green transformation - what is now called twin transition - has shifted from a policy slogan to a matter of survival. This is especially true as Vietnam has committed to net-zero emissions by 2050, and major export markets are enforcing increasingly stringent "green barriers."

On the ground, Vietnam’s twin transition landscape is multilayered. Large corporations and foreign-invested enterprises (FDIs) are leading the charge. Small and medium-sized businesses remain uncertain. Meanwhile, micro-businesses, cooperatives, and household enterprises are only just beginning to grasp the implications.

This disparity, however, illustrates the natural dynamics of structural transformation: early movers gain market advantage and help define new standards for the entire ecosystem.

According to FPT Digital, a symbiotic relationship is emerging between digital and green transformation, forming a new economic ecosystem where the balance between development and environmental protection takes center stage.

Green transformation is creating new technology demands - spurring innovations such as blockchain for sustainable supply chain management and intelligent monitoring systems for renewable energy networks.

No enterprise can stand outside the twin transition

For years, green transformation was viewed as a long-term aspiration tied to social responsibility or brand image.

That paradigm has shifted.

Mechanisms such as the EU’s Carbon Border Adjustment Mechanism (CBAM), carbon traceability requirements in global supply chains, and the rise of green finance are turning sustainability into a hard market entry condition.

In Vietnam, this global pressure is reinforced by national commitments to green growth and net-zero, creating a double wave of transformation that now directly affects enterprises.

Experts widely agree: green and digital transformation are now inseparable twins. Green initiatives cannot succeed without digital support, and digital transformation without sustainability risks increasing energy use and emissions.

The most immediate pressure falls on exporters, global supply chain participants, and energy-intensive industries such as steel, cement, fertilizer, electricity, logistics, and agri-forestry-fisheries. For them, the twin transition is no longer a cost - it’s the price of admission to global markets, finance, and supply chain positioning.

Early adopters are already forming a new competitive landscape built on technology, data, and environmental, social, and governance (ESG) strategies.

According to FPT Digital, global green transformation is being led by the US, EU, and China - meaning Vietnamese firms cannot afford delay. Two imperatives stand out: having the right strategy and the right partners. The goal is to adapt swiftly and seize new opportunities. Early movers gain privileges - access to major markets like North America and the EU, supply chain control, and enhanced competitiveness.

Leading the way: FPT, Vingroup, and the green FDI wave

One striking example of Vietnam’s twin transition is the strategic partnership between FPT and Vingroup to promote green transformation using digital technologies.

This partnership is more than a business deal. It reflects a strategic mindset among major Vietnamese conglomerates to root green transition in core technological capabilities.

Vingroup, anchored by its electric vehicle brand VinFast, is pursuing a shift toward green products and ecosystems, with smart electric vehicles at the center.

Its decision to rely on FPT for automotive software, IT infrastructure, and digital services illustrates that its green strategy is inseparable from digital transformation.

Conversely, FPT is not just a tech vendor - it is a committed partner in Vingroup’s sustainability roadmap.

FPT has pledged to reach net-zero by 2040 and is deploying ESG solutions, greenhouse gas inventories, and its proprietary VertZéro platform. With more than 4,000 automotive tech experts and a vision to become a global automotive software leader, FPT is directly linking Vietnam’s green ambitions with the global tech value chain.

Beyond Vietnamese firms, FDIs are spreading transformation pressures across the business community.

Multinationals such as Samsung, HEINEKEN, and companies from New Zealand and Japan are embedding digital and green practices into their Vietnam operations.

These include renewable energy adoption, circular economy models, digitalized supply chains, and carbon traceability - all of which are quickly becoming default practices among FDIs.

As international consultants note, FDIs bring not only capital but also new “rules of the game” - centered on technology, ESG, and sustainable development. This creates a ripple effect that forces Vietnamese supply chain participants to adapt - or be left behind.

Technology and data: The backbone of green transformation

A common thread among pioneering enterprises is that they begin their green transformation with digital transformation.

Technology and data are not just tools for emissions measurement and reporting. They help optimize operations, cut costs, and guide strategic decision-making.

With ESG standards increasingly acting as a “passport” to green finance, digital tools are key to building transparent, consistent, and verifiable data systems.

Tasks like greenhouse gas inventorying, ESG reporting, and scenario modeling for emissions reduction all require robust, integrated data systems.

Solutions like FPT’s VertZéro represent a new approach: not just enabling compliance reporting, but helping businesses build data-driven decarbonization roadmaps.

Automated data collection, international-standard emission factors, and financial impact modeling of green scenarios empower firms to quantify the value of sustainable decisions.

For many small and medium enterprises, the main challenge is not technology itself - but data readiness and management capacity.

Firms that already use ERP systems, digital management tools, and core data platforms can cut the time and cost of ESG reporting significantly.

By contrast, those still operating manually will struggle to meet rising market demands.

This explains why many experts insist: green transformation cannot leapfrog over digitalization. Without digital foundations, sustainability efforts risk being superficial, opaque, and ultimately ineffective.

Barriers and the path forward for Vietnam’s private sector

Despite growing clarity around the twin transition, Vietnam’s business landscape still faces major hurdles.

The biggest gap is between large enterprises and micro, small, and medium-sized enterprises (MSMEs). Large corporations have the capital, technology, and human resources to implement structured transitions. Most smaller firms remain stuck at the awareness stage.

The second barrier is high upfront costs and uncertainty over short-term benefits.

Many businesses still view green transformation as a financial burden rather than a strategic investment to reduce risk, access new markets, and secure capital.

In this context, supportive mechanisms - green credit, financial incentives, and public-private partnerships - are critical.

The third challenge is human capital and management capability.

Twin transformation is not just about technology. It requires wholesale changes in business models and organizational culture.

Without strong leadership awareness and commitment, even the best tech solutions will falter.

And yet, these challenges also reveal new opportunities.

As experts note, the global restructuring of supply chains around green and digital standards creates openings for early and agile movers.

Vietnam has distinct advantages: renewable energy potential, a fast-growing digital economy, and a young workforce.

If leveraged well, these can help the country upgrade its position in global value chains.

In the long run, pursuing a twin transition will not only help Vietnamese firms meet market expectations - it will nurture a new generation of enterprises that are modern, transparent, and resilient.

In a world where green and digital standards are becoming the universal language of trade and investment, those who adapt early will not just survive - but thrive.

Thai Khang