Sustainable development seen as growth driver for businesses

Sustainable development seen as growth driver for businesses

The discussions focused on the view that growth in a new development phase should not be measured by scale alone, but increasingly by productivity, quality, innovation, resilience and the ability to create long-term value.

Experts at the Việt Nam Corporate Sustainability Forum 2026 in Hà Nội on Monday. —VNS Photo Vũ Hoa

Green transformation, innovation, digital transformation and efficient resource use are increasingly important to sustainable growth, attendees heard at the 2026 Việt Nam Corporate Sustainability Forum (VCSF) in Hà Nội on Monday.

Held under the theme 'Breakthrough Growth and Sustainable Development: Two Goals, One Journey', the forum brought together policymakers, local authorities, businesses, domestic and international organisations and experts to discuss ways to strengthen business competitiveness while supporting the country’s sustainable growth objectives.

The annual forum has been organised by the Vietnam Chamber of Commerce and Industry (VCCI), with the Vietnam Business Council for Sustainable Development (VBCSD) as its core, since 2014.

Discussions at the VCSF focused on the view that growth in a new development phase should not be measured by scale alone, but increasingly by productivity, quality, innovation, resilience and the ability to create long-term value.

Growth provides resources for transformation, while green and digital transformation, innovation, efficient resource use and responsible business practices can help businesses improve productivity, expand markets and strengthen competitiveness.

VCCI Chairman Hồ Sỹ Hùng said breakthrough growth and sustainable development should be pursued as part of a single process involving the Government, local authorities, businesses, science and technology and society.

“Breakthrough growth and sustainable development are not two separate paths. They are one journey, in which the State creates the conditions, local authorities support, businesses take the lead, science and technology provide momentum, and society as a whole participates,” he said.

VCCI will continue working with the Government, ministries, sectors, local authorities and businesses to support the transformation of the growth model, Hùng said.

Its efforts include promoting policy dialogue, connecting businesses with domestic and international partners, encouraging innovation, sharing sustainable business models and helping companies strengthen competitiveness and participate in value chains.

Professor Dr Nguyễn Xuân Thắng, Politburo member of the 13th Party Central Committee and Chairman of the Central Theoretical Council, discussed orientations and policies for renewing Việt Nam’s development model towards sustainable double-digit growth and the role of businesses in that process.

Chief Economist at the Asian Development Bank in Việt Nam, Bùi Minh Giáp, highlighted several factors supporting a resilient and sustainable economy, including higher productivity, stronger innovation, a greater role for domestic businesses, institutional improvement and workforce development. 

Sustainability linked to business efficiency

From a business perspective, speakers said sustainable development is increasingly linked to economic efficiency and competitiveness rather than being treated as a separate objective.

Binu Jacob, CEO of Nestlé Việt Nam and Co-Chairman of VBCSD, said sustainability would be more effective when linked to the economic interests of different participants across the value chain, from farmers and factories to suppliers of packaging, raw materials and logistics services.

“Green transformation is not only a responsibility, but also an opportunity for businesses to innovate, strengthen competitiveness and create a foundation for long-term growth,” he said.

James Crampton, Senior Director of Corporate Affairs at HEINEKEN Việt Nam and Vice Chairman of VBCSD, said sustainable development should extend beyond individual businesses.

He said stronger businesses could contribute to stronger ecosystems by improving local capabilities, supporting business partners and creating opportunities beyond individual companies.

Meanwhile, SABECO deputy general director Lee Chio Lim Larry said the company had found that its sustainability objectives were closely aligned with its business objectives.

Lee cited water and energy use as examples, saying efforts to reduce water consumption and improve energy efficiency could simultaneously reduce operating costs and environmental impacts.

Similarly, reducing the use of packaging materials such as aluminium and cardboard could deliver both business and environmental benefits, he said.

“This, in totality, shows that sustainability and our business objectives are really aligned,” Lee said.

For a large organisation like SABECO, which operates 26 breweries, 11 trading companies, a transport network and a mechanical company, as well as thousands of consumption outlets, consistency is particularly important when implementing changes across the organisation, he said.

Lee identified clear objectives, reliable data and a culture of continuous improvement as key factors in ensuring that different parts of an organisation move in the same direction.

He also said businesses need to reconsider how they define productivity.

“Productivity is not so much about how much more we can produce. To me, it is more about how we can utilise our existing resources to create value,” he said.

Nguyễn Quang Vinh, vice chairman of VCCI and chairman of VBCSD, said a dialogue through VCSF 2026 helped identify remaining gaps in policies, the business environment, innovation, personnel and financial resources.

The recommendations from the forum will be compiled by VBCSD and VCCI and reported to the Government and the National Council for Sustainable Development.

The forum highlighted that integrating green transformation, innovation, digital transformation and efficient resource use into business operations can help companies reduce environmental impacts while improving productivity and creating new opportunities for growth. 

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