Green economic development essential for businesses

Sustainable and green growth is emerging as an inexorable trend globally and been adopted by many countries, including Vietnam. This form of growth promotes the restructuring of the economy, fostering economic prosperity, environmental sustainability, and social equity.

Vietnam is among six countries most severely affected by climate change and has taken a leading role in fulfilling its green commitments.

However, transitioning to green development presents numerous challenges.

If not addressed in a timely manner, environmental and climate barriers in international trade will become significant obstacles, preventing Vietnamese goods from accessing stringent markets.

For exporters, delays in green transition will result in lost opportunities to boost their exports.

Vietnamese businesses, which are predominantly of small and medium size, are currently in a phase of development. They face significant technological limitations and a pressing need for technology transfer to innovate.

Given existing trends in digital and green transformation, technological innovation is not only necessary but also vital for survival.

Analysts believe that the success of a green revolution requires practical and effective support from the international community, an environment fostered by the government, robust local implementation, and, crucially, a central role for businesses and citizens in implementing and benefiting from these initiatives./.

VNA