Hanoi (VNA) – As part of efforts to advance sustainable business practices in Vietnam, in 2024, the Ministry of Planning and Investment (MPI) has leveraged resources from international organisations such as ESCAP, USAID, and UNDP to help businesses implement green, circular, and inclusive models.
The ministry said that significant progress has been seen in the collaboration frameworks, including developing tools to assess business readiness for adopting circular economy principles, ESG (Environmental, Social, and Governance), and Inclusive Business (IB) practices.
As a result, approximately 4,000 enterprises have received technical support, while over 100 businesses have joined an impact business advisory network. The Vietnam ESG Initiative, which runs from 2023 to 2025, has already attracted nearly 400 enterprises.
Additionally, the MPI has been proactive in supporting businesses' digital transformation. In collaboration with ministries, local authorities, and industry associations, the ministry has rolled out policies to help small and medium-sized enterprises (SMEs) transition digitally. International resources have funded training for over 14,000 businesses, backed by contributions from state budget, international organisations, and businesses themselves.
As part of this effort, the MPI, in partnership with USAID, has provided targeted training to businesses in sectors like tourism, agriculture, and manufacturing across 27 provinces. About 440 businesses have received expert guidance to develop and implement digital transformation roadmaps and improve management and production technologies.
The ministry also launched a digital platform at https://digital.business.gov.vn - where businesses can access tools, training materials, and digital transformation support packages. The portal has attracted over 2 million visits, and its resources have been downloaded 32,000 times. Nearly 5,500 businesses have used the platform to assess their readiness for digital transformation.
In response to the challenges faced by businesses, the Small and Medium Enterprise Development Fund (SME Fund), under the MPI, has applied a 2% reduction in loan interest rates, as part of the Government's Resolution No. 105/NQ-CP released in July 2023. The fund has also expanded its partnerships, with nine commercial banks now offering indirect loans, including OCB, VPBank, and VietABank.
The ministry is also focused on fostering innovation and creative entrepreneurship. In a historic first, MPI Minister Nguyen Chi Dung visited leading semiconductor companies in the US, securing commitments to support in training, artificial intelligence, and semiconductor development, with a focus on integrating Vietnam into the global value chain.
During the visit, the first-ever Vietnam-US Economic Dialogue took place, co-chaired by Minister Dung and the US Deputy Secretary of State. Discussions focused on critical areas such as semiconductor industry cooperation, energy and critical minerals, business environment improvements, high-quality investment attraction, and cybersecurity.
Looking ahead, the Vietnamese minister highlighted that the his ministry will continue to support new economic models, such as circular and sharing economies, while also developing industries like semiconductors, renewable energy, and AI. These initiatives are key to propelling Vietnam’s growth in the global economy./.
