Attaching social responsibility to businesses to reach further

Enhancing exports not only in product quality but also with sustainable business activities. Photo: Nguyen Thanh

Attach responsibility to enhancing exports

After more than 10 years of operation, Vietnam Cinnamon Anise Export and Production Joint Stock Company (Vinasamex) has affirmed the position of cinnamon and Vietnamese anise products in high-end, fastidious markets in Europe along with markets in the US, Japan, Korea and Canada. In addition, the company has also put its products on many famous domestic and foreign e-commerce channels. Therefore, the export market accounts for 90% of the company's revenue.

According to a representative of Vinasamex, with its export-oriented strategy, the company quickly invested in organic production areas, which are recognized by international organizations. Currently, Vinasamex is one of the few cinnamon enterprises with Fairtrade certificate (international certification of fair trade), organic certification of EU organic products, and Forlife certification (protection of people, environment, social responsibility). In addition, the Company is aiming to develop more high-value product lines, towards the high-end segment, to supply pharmaceutical companies to produce beauty care products.

Similarly, Abavina Production and Trading Joint Stock Company replicate the model of producing clean agricultural products for a green environment and sustainable development. Abavina has built the foundation of Thuan Thien farming community, and help gather Vietnamese farmers to participate in the production and distribution of clean agricultural products. As a result, the Company's agricultural and agricultural products have been supplied to domestic partners and many companies that export high-quality agricultural products to Japan, the Netherlands, and India.

From production, business and trade activities, businesses all believe that there are many incentives to implement social responsibility in order to increase competitive advantage, economic benefits, and prestige with customers and reduce risks and easily recover from the crisis.

Towards a sustainable business community

Social responsibility (CSR) is not a new concept in Vietnam, especially with the business community. Because of the regulations of international integration, especially in the new generation of Free Trade Agreements (FTAs), there are clear standards for corporate social responsibility practice. Moreover, during the Covid-19 pandemic, the implementation of corporate social responsibility is considered even more important. Therefore, it requires businesses to practice social responsibility to meet the standards of goods export and international cooperation, business growth associated with the contribution to economic sustainable development - society and environment.

On the other hand, one of the requirements in the Strategy for Import and Export of Goods to 2030, approved by the Government at the end of April 2022, is to develop sustainable imports and exports on the basis of harmonizing the structure of goods and facilities, market structure and trade balance, associated with green trade and fair trade, environmental protection, biodiversity and adaptation to climate change. In addition, the Strategy also requires the development of product lines to focus on solutions to improve the ability to meet regulations, quality standards, food hygiene and safety, social responsibility standards, and environment, focusing on investment and development of export of green economic products, friendly to the environment.

Therefore, recently, the Vietnam Confederation of Commerce and Industry (VCCI) has announced a set of six business ethics codes of Vietnam, including articles on creating value for society and being socially responsible society and respecting nature and protecting the environment. According to VCCI, these rules will help ensure the sustainable development of Vietnamese entrepreneurs and businesses.

At this event, Mr. Pham Tan Cong, President of VCCI, said that the documents of the Party and the State all require the development of a team of business people who are strong in quantity and quality with a spirit of dedication to the nation, that has advanced cultural and ethical standards and has good management and business qualifications. The implementation of these rules will aim to build a strong and civilized Vietnamese business and business community.

However, not all businesses can implement social responsibility due to limitations in resources, human resources or business strategies. A representative of Abavina Company said that corporate social responsibility is not only an indispensable requirement for manufacturing enterprises that want to export products but must also be reflected in the determination of the vision and core values of the enterprise. However, if large enterprises can set up a department dedicated to implementing social responsibility, small and medium-sized enterprises do not have enough scale or potential to do so, so they can integrate into the business plan.

In addition, according to businesses, the investment in implementing social responsibility may not see immediate benefits, but in the long run, it will affirm the prestige with domestic and foreign partners and customers.