Businesses should aim for sustainable economic development by using environmentally friendly production and “green” financial sources, experts have recommended.
HCM City’s recently launched project to promote sustainable development aims to help firms reach “green” standards. (Source: VNA)
HCM City (VNS/VNA) - Businesses should aim for sustainable economicdevelopment by using environmentally friendly production and “green” financialsources, experts have recommended.
Such goals are part of the “Trade for Sustainable Development” project, whichpromotes green production and green finance (finance that facilitatessustainable and environmentally friendly practices).
The project kicked off in Ho Chi Minh City in March. The city is the secondregion in Vietnam to launch the project after Hanoi. The two-year project isrun by the Vietnam Trade Promotion Agency under the Ministry of Industry andTrade and the International Trade Centre.
Bui Thi Thanh An, deputy head of the agency, said the project assistedbusinesses and co-operative groups in improving production value and joininginternational value chains through sustainable business strategies, greenstandards, and green finance.
The project provides technologies and solutions, and helps businesses identifyand access green financial sources, and penetrate international markets.
Many businesses, especially small to medium sized, and agriculturalco-operatives still lack the knowledge and skills for sustainable development,according to experts.
The project offers training and international upskilling courses (created byrenowned international universities), and helps firms improve their skills sothey can operate their businesses in a sustainable manner.
Green development is considered a key to sustainable development. Even thoughthe use of green technologies has high initial costs, businesses that use suchtechnology will attract more foreign investors and customers, according to arepresentative of ITC’s Department of Business and Organisation.
Dang Duc Tuan, a marketing analyst at ITC, said that sustainability standardshelped businesses become more competitive as more customers demand productsthat meet such standards.
However, costly investments are needed to set up new, more environmentallyfriendly production lines. Helping businesses gain access to green financesources is crucial, experts said. — VNS/VNA
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HCM City’s recently launched project to promote sustainable development aims to help firms reach “green” standards. (Source: VNA)
