Vietnam clears programme to back private firms in sustainable business

This will contribute to completing 17 US Sustainable Development Goals (SDGs) in 2030.

It also aims to mobilise social resources for the growth of the ecosystem supporting the firms in sustainable business so that they can make positive contributions to job generation, improvement of living conditions for low-income people and disadvantaged groups, environmental protection and climate change response in Vietnam, according to a news agency report.

The awareness of private enterprises about the importance of sustainable business is expected to improve by 2025, by which at least 10 tools and solutions to measure, evaluate and recognise sustainable business will be developed to support about 10,000 private enterprises.

All these will help reach the target of saving 5-7 per cent of total power consumption of the country and raising labour productivity by about 7 per cent annually. A database and an ecosystem supporting sustainable business will also be developed.

The programme will be implemented on a national scale, covering all private enterprises implementing sustainable business, relevant organisations, ministries, agencies and localities.

The programme will give support to the firms in building sustainable business strategies and plans.

Those that are recognised as sustainable firms will receive assistance in personnel training, technology access, digital transformation, capital resources access, communications and trade promotion.

Small and medium-sized enterprises (SME) will receive the highest support in sustainable business development from the union budget in line with the Law on SME Support and relevant legal documents.

Fibre2Fashion News Desk (DS)