Challenges in Connecting Businesses with Customers

Firstly, it is crucial to convey the concepts and urgency of the green transformation message. This will help raise awareness and translate it into specific actions by businesses.

Currently, with nearly 900 thousand existing businesses in Vietnam, approximately 150 thousand new businesses are established each year, with registered capital of around 1,500 trillion dong. This demonstrates that businesses have truly become the vanguard force in the country's green transformation.

Dr. Pham Phu Ngoc Trai emphasized: "The journey is still far and there are many challenges, but transitioning towards a circular economy, a green economy, is an important goal that Vietnam needs to implement in the coming years."

Through practical reviews, feedback, and synthesis of opinions from many member enterprises of the Vietnam Chamber of Commerce and Industry (VCCI), Mr. Pham Hoang Hai, Head of Partner Relations, Secretariat of the Business Council for Sustainable Development (VBCSD) under VCCI, stated that improvements and the level of development of science and technology, such as digital technology, manufacturing technology, and integrated solutions, are strong drivers for the transition to a circular economy. The role of businesses in implementing a circular economy lies in changing the way products are created, shaping the market, and making policy recommendations.

However, businesses are still facing many challenges in the process of connecting with customers and other businesses. Specifically, challenges related to regulations, legal frameworks regarding waste management, recycling, and product quality certification; capital sources and financial support; mechanisms for applying breakthrough new technologies developed by businesses to protect the rights of businesses and consumers.

To implement a circular economy model in Vietnam, businesses currently reflect the need for a legal framework to support eco-design activities as well as the expanded responsibility of producers for waste and secondary materials management. New approaches to tax policies, procurement, public investment with incentives for circular economy applied products and services; mechanisms to encourage access to financial incentives and implementation of sustainability reporting are also needed.

Mr. David Riddle, CEO of Tan Hiep Phat Group, stated that for the circular economy to enter daily life is a process that may take time and requires a change in mindset across multiple generations. Therefore, new approaches, even economic incentives, are needed to encourage the recycling process.

As one of the enterprises advocating for early green and sustainable transformations, Mr. Arghya Mandal, CEO of TH Milk Joint Stock Company, expressed that "green transformation" has become imperative for today's businesses. It is a great opportunity for those who are aware of trends early on. Only with serious upfront investment will the resulting achievements be evidence of the right choice. TH is steadfast in the chosen path and determined to collaborate with the Government to turn Vietnam's Net Zero commitment into action.

From its inception to the present, TH has consistently and continuously implemented and expanded initiatives to promote sustainable growth. This includes comprehensive assessments of TH Group's operational activities to identify CO2 emission sources. This led to the establishment of a professional team to seek and implement appropriate change solutions.

Despite numerous challenges, TH has achieved success in various areas such as clean energy production; waste and wastewater treatment; biodiversity conservation; emission and waste reduction; actively implementing Extended Producer Responsibility (EPR) such as organizing retrieval, processing of discarded products, and energy recovery from waste, promoting environmentally friendly consumer solutions, spreading and encouraging "green" lifestyles...

However, TH also hopes that leverage policies will be enacted soon. This will provide a legal basis for businesses and standards for all specific actions; it will also be positive signals for the global community to see specific and resolute actions by Vietnam in the race towards Net Zero.

TH Group hopes to inspire and motivate the business community and people to firmly commit to "commitment goes hand in hand with action" in environmental protection for a green future for the country, emphasized Mr. Arghya Mandal.

(baotintuc.vn)

Contact Information

Tâm Dương Packaging Co., Ltd.

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Email: marketing@tamduongpack.vn