In his opening remark, Associate Professor Doctor Le Xuan Dinh highlighted that
“the business sector plays a vital role in providing additional financial resources for sustainable development, especially under Vietnam’s current conditions of budget constraints and decreasing foreign support. The participation of the business sector will ensure the successful achievement of the Sustainable Development Goals”.
Mr. Moritz Michel represented the Hanns Seidel Foundation and stressed again the need for active involvement of the business sector in the implementation of the Sustainable Development Goals in his opening remarks: “The private sector, especially the business sector, will play more and more of an important role as a source of investment to realize the implementation of the sustainable development goals by 2030. Prime Minister Nguyen Xuan Phuc underlined the current policy and said that Vietnam is planning on generating half of its economic output from the private sector in the next two years.”
Vietnam’s National Action Plan on the Implementation of the Sustainable Development Agenda in 2030 specifically pinpointed the need for the private sector’s involvement across different goals and targets. VSDG Target 12.6, for instance, calls for the “business community to adopt sustainable practices, including the use of cleaner production technologies, effective use of natural resources and environmental protection; implement corporate social responsibility to the poor and the vulnerable; and integrate sustainability information into their periodical reports”.
The Vietnam Business Council for Sustainable Development, established by Vietnam Chamber of Commerce and Industry in 2010, has introduced the Corporate Sustainability Index with 131 indicators to rank enterprises with regards to sustainability in management, economic growth, environmental and social impacts as well as to guide them to conduct Sustainability Reports. Bao Viet Corporation, a leader in the insurance market, showcased how the Sustainability Report has helped the corporation to increase its growth while still instilling responsible social values and minimizing environmental impact.
This workshop is among the series of activities of HSF Vietnam to promote and support the implementation of the Sustainable Development Goals in the country. In the same week, a consultative workshop was organized with support from HSF Vietnam to finalize the monitoring framework for the VSDG. To see more, click the link.