Hanoi (VNA) – As environmental, social and governance (ESG) standards gain traction, human resources are emerging as a major bottleneck for Vietnamese enterprises.
The challenge underscores the urgent need to strengthen linkages between academia and industry to bridge the gap between theory and practice, thereby laying a foundation for sustainable capital market development.
ESG – a pillar of development strategies
Enhancing public understanding of securities and the stock market has long been a priority for regulators in Vietnam. In recent years, under the direction of the Government and the Ministry of Finance, the State Securities Commission of Vietnam (SSC), market operators, participants and training institutions have implemented a range of coordinated measures to improve financial literacy. These efforts have contributed to building a more transparent, efficient and sustainable stock market.
Amid deepening international economic integration, corporate governance aligned with ESG standards is becoming an important foundation for enterprises to improve competitiveness, attract investment flows and pursue long-term growth. ESG is no longer merely a compliance requirement, but a core criterion shaping business strategies and investors' decision-making.
Ha Duy Tung, Vice Chairman of the SSC, said sustainable development and ESG standards have been increasingly integrated into business operations and investment strategies, particularly in finance and capital markets. Investors are placing greater emphasis on sustainability factors when evaluating opportunities.
At the same time, awareness among shareholders and stakeholders has continued to improve, encouraging companies to enhance transparency, strengthen governance and adopt sustainable practices towards green growth.
In Vietnam, green growth and sustainable development have been identified as overarching strategies in socio-economic development. As a key medium- and long-term capital channel, the stock market is gradually promoting the integration of ESG factors into corporate and financial institution activities.
“The SSC has been implementing various measures to develop the capital market in a sustainable direction, focusing on perfecting the legal framework, enhancing disclosure quality and strengthening corporate governance. Transparency requirements, particularly regarding sustainability-related information, are being reinforced,” Tung noted.
Expanding access to green capital
Tung perceived that for ESG to be effectively implemented, human resources remain the decisive factor. Demand for professionals equipped with ESG knowledge and practical skills is rising rapidly, not only in manufacturing but also across finance, auditing and consulting sectors.
“Strengthening connections between training institutions and businesses is essential to ensure curricula stay aligned with market realities and meet increasingly stringent investor expectations on ESG standards,” he stressed.
Nguyen Van Si, head of the sustainable development division at PAN Group and Vinaseed, said Vietnam aims to become a high-income developed country by 2045. To achieve this goal, sustainable development is no longer optional but mandatory for enterprises, driven by both domestic and international requirements.
Access to green finance is also a crucial driver. Green loans and investment funds are expanding strongly, with more than 90% of major global institutional investors having integrated ESG into their investment strategies, offering more preferential treatment than traditional capital sources.
However, ESG human resources in Vietnam remain limited in both quantity and quality. The market lacks not only specialists with in-depth expertise but also professionals capable of integrating ESG into corporate governance and operations.
Another challenge lies in the persistent gap between training and practice. While sustainability-related standards and regulations evolve continuously, curricula at many institutions have yet to keep pace, leaving graduates short of practical skills and forcing businesses to retrain them. In addition, commitment levels among both enterprises and employees towards ESG remain modest, further complicating the development of dedicated ESG teams.
Associate Professor Bui Quang Hung, Vice President of the University of Economics Ho Chi Minh City, said teaching models need to be reformed by integrating ESG with sustainable development goals and strengthening collaboration with businesses. Universities play a central role in training and supplying human resources; enterprises provide practical implementation and feedback on demand; and regulators create the legal framework and development direction.
Close coordination among these three stakeholders will be key to improving the quality of ESG human resources in Vietnam in the coming years./.
