Deputy Prime Minister Vu Duc Dam urged businesses to pay greater attention to sustainable development amid deepening global integration and growing competition at the Viet Nam Corporate Sustainability Forum 2015 held yesterday in Ha Noi.
The forum, jointly held by the Viet Nam Chamber of Commerce and Industry (VCCI) and the British Council, updated businesses on new sustainability themes and trends, and discussed models and solutions for such development.
Dam said that Viet Nam's business community needs a vision to establish and maintain a stable socio-economic development for the country, warning that many firms had yet to pay adequate attention to the issue.
Businesses should know their strengths and bring their advantages into play to secure a firm foothold in the market and develop their businesses. They should also actively seek new ways to benefit from global sustainability trends, he urged.
"Improving the business climate is critical for sustainable economic development," Dam said at the forum, adding that factors that lead to fair competition and access to resources must be encouraged.
Dam emphasised the Government's commitment to supporting the business community improve in productivity, competitiveness and sustainable development, as demonstrated by the promulgation of Resolution 19.
Experts at the forum pointed out that an advantageous business environment was one, among many, key factors needed to create a harmony between growth and sustainable development. They added that other important components are human factors such as social and environmental issues.
Vorapong Vorasuntharosoth, co-chairman of the Viet Nam Business Council for Sustainable Development (VBCSD), stressed the need to develop a measurement tool to track the efforts of businesses in sustainable development, quoted by the Voice of Viet Nam.
He added that VBCSD was planning to build a set of indices for sustainable corporate development that are in line with Viet Nam's political and social situation, as well as international benchmarks for concerned parties in business, government, investment and the public.
ASEAN General Secretary Le Luong Minh, stressed the role of business in building a sustainable ASEAN economic community, adding that through social responsibilities, businesses could contribute to and enhance sustainable development, social welfare, social equality and environment sustainability.