Business

Sustainability - lodestar for business development

Sustainable development should be put at the core of enterprises’ business strategy if they want to integrate into and rise higher in the global value chains, said General Secretary of the Vietnam Chamber of Commerce and industry (VCCI) Nguyen Quang Vinh.
Sustainability - lodestar for business development ảnh 1At the ceremony to launch annual programme ranking the most sustainable businesses in Vietnam in 2018 (Photo: VNA)

Hanoi (VNA) – Sustainable development should be put at the core ofenterprises’ business strategy if they want to integrate into and rise higherin the global value chains, said General Secretary of the Vietnam Chamber ofCommerce and Industry (VCCI) Nguyen Quang Vinh.

He made the remark at the ceremony held in Hanoi on May 8 to launch the annual programmeranking the most sustainable businesses in Vietnam in 2018.

Balancing sustainability with economic development is no longer an issue forindustrialised and wealthy countries alone, but is a critical concern for alleconomies, Vinh said, noting that Vietnamese businesses need to look farther ratherthan pursuing immediate profits.

He underlined that this year, the VCCI and the Vietnam Business Council forSustainable Development (VBCSD) will collaborate with a group of experts to decidea standard level for sustainable development. The move aims to encouragecompanies to measure their efforts towards sustainable development plansbesides honouring the top 100 pioneering and successful enterprises.

In order to rank 100 most sustainable companies, the Corporate SustainabilityIndex (CSI) continues to be used to evaluate the involved firms’ performancebased on 151 quantitative criteria.

According to Dao Thuy Ha, a representative from drug maker Traphaco JSC, theCSI gives comprehensive assessment on an enterprise’s operation in terms of notonly capital and finance, but also environmental, energy, climate change andworker issues.

Integrating CSI into sustainability report will make the overall picture of anenterprise become more transparent, she said, adding that the values that afirm generates are not only dividends but also job creation, environmentprotection and conservation of natural resources.

The top 100 sustainable businesses 2018 listing will be announced at a ceremonyheld in November.

The 2017 programme attracted the participation of over 500 enterprisesspecialising in a wide range of industries.-VNA
VNA
#Sustainable development #core of enterprises’ business strategy #global value chains #Vietnam Chamber of Commerce and Industry #the most sustainable businesses in Vietnam #Corporate Sustainability Index #Vietnam News Agency #Vietnamplus
Follow VietnamPlus

Related News

VCCI kicks off recycling plan

VCCI kicks off recycling plan

The Vietnam Chamber of Commerce and Industry (VCCI) on January 23 kicked off a programme for advancing circular economy to protect the environment.
PM vows best environment for agriculture, rural development

PM vows best environment for agriculture, rural development

The government will continue paying close attention to agriculture and rural areas and create the best environment for their development, Prime Minister Nguyen Xuan Phuc said during a dialogue with farmers in the northern province of Hai Duong on April 9.
HCM City summit talks social enterprises

HCM City summit talks social enterprises

Developing creative business models that help generate profits and at the same time improve the life of the community and well address social issues is the new way of doing business in Vietnam.

See more

Representatives from Vietnamese agencies at the booth of Vietnam Airlines and Saigontourist Group at the IBT Berlin 2025. (Photo: VNA)

Vietnam Airlines connects Vietnam with the world at ITB Berlin 2025

The booth at IBT Berlin 2025 is expected to help enhance the collective strength of Vietnam Airlines and Saigontourist, towards promoting Vietnamese tourism and further attracting European tourists in general and Germans in particular, said Cao Chinh Mien, Director of the Vietnam Airlines branch in Germany.

Bitcoin, a digital currency (Photo: VNA)

Vietnam plans pilot cryptocurrency exchange

The Vietnamese Ministry of Finance is preparing a proposal to pilot a digital currency exchange, Deputy Finance Minister Nguyen Duc Chi announced at the government’s regular press conference on March 5.

An Phat Complex industrial park in Hai Duong (Photo: VNA)

Half of localities to convert existing industrial parks into ecological models

The eco-industrial park is a special model in which businesses participate in production activities to create green products and optimise resource use. This industrial park model focuses on the connection and cooperation between businesses in the same industrial park to promote symbiotic production activities.

Workers process seafood for export in Ba Ria-Vung Tau province. (Photo: VNA)

Ministry proposes solutions to achieve 12% export growth target

Therefore, the ministry will focus on implementing effective solutions to bring into full play competitive advantages and seize opportunities by promoting and supporting businesses and industry associations in effectively exploiting traditional markets that still hold significant potential.

Chairman of the provincial People’s Committee Tran Hong Thai speaks at the event (Photo: VNA)

Chinese group eyes railway revival, int’l flight expansion in Lam Dong

At a working session on March 5 with the group’s Deputy General Director and Chief Accountant Guan Huapinh, Chairman of the provincial People’s Committee Tran Hong Thai confirmed that the Da Lat – Thap Cham railway line has been included in detailed planning under decisions issued by the Prime Minister and the Politburo.