New export and business cooperation opportunities from "dual conversion"

Towards green growth

24% of consumers are now focusing on sustainable living in their short-term plans, demonstrating the growing influence of the eco-friendly living trend.

In particular, concerns about climate change and environmental impact have increased significantly, now ranking in the top five concerns with 14% of consumers choosing it.

According to NielsenIQ's research, not only in Vietnam but also 42% of consumers in the Asia-Pacific region believe that businesses proactively reducing environmental impact is "very important" and 34% rate this as an "important" factor.

Workshop "Pioneering dual transformation for a greener Vietnam" organized by Investment Newspaper.

Speaking at the workshop “Pioneering dual transformation for a greener Vietnam” on November 12, 2024, Ms. Le Minh Trang, Deputy Director of Retail Research at NielsenIQ Vietnam, said that businesses committed to green production will better meet consumer demands

In addition, switching to green production helps businesses reduce long-term costs by optimizing energy and raw material sources, reducing waste, thereby improving profit margins.

Furthermore, businesses also benefit from enhancing their brand image, creating a competitive advantage in the market.

According to Ms. Trang, compliance with international and national environmental standards opens up many new export and business cooperation opportunities for businesses.

Introducing at the workshop, Mr. Craig Richard Bradshaw, General Director of Masan High-Tech Materials, said that this company makes a difference in the global market thanks to its sustainable development strategy following the circular economic model, focusing on recycling, developing green products and aiming for green growth.

Specifically, the Company applies the 3Rs model "Reduce - Reuse - Recycle" to all production and operation activities, constantly improving towards the goal of minimizing waste and optimizing resources.

For the textile industry, Mr. Vang Vien Thong, CEO of the recycled material fashion brand REPEET, said that instead of using polyester derived from petroleum, REPEET produces sustainable fashion products from recycled polyester fibers sourced in Vietnam.

According to Mr. Thong, with a sustainable development strategy, REPEET is expanding to demanding markets such as Japan, the US and Europe - markets where product quality and sustainability criteria are top priorities.

Optimization through digital transformation

According to experts, meeting green transformation requirements requires a lot of resources as well as long-term strategies from businesses.

Therefore, the intersection of digital transformation and green transformation will create a synergy that supports the benefits of both.

Also on this issue, Mr. Alexander Evchenko, Director of 1C Vietnam Co., Ltd. said that "dual transformation" is a comprehensive process, in which digital transformation plays a role as a tool to promote green transformation.

Therefore, Vietnamese enterprises can take advantage of digital technologies to minimize environmental pollution such as applying digital solutions to manage waste, reduce emissions and save energy, while optimizing production processes, minimizing waste and increasing productivity...

At Masan High-Tech Materials, the company's leaders also said that to contribute to sustainable development, the company has developed high technology through two advanced research facilities in Germany and Vietnam.

At the same time, cooperate with technology enterprises, universities and research institutes… to improve the energy efficiency of the hard metal production process from ore/scrap to finished tools.

However, Vietnamese businesses, especially small and medium-sized enterprises, still face difficulties in accessing the necessary technology to implement sustainable solutions.

Additionally, adopting sustainable production methods often requires large initial investments that increase operating costs.

Therefore, a representative of NielsenIQ Vietnam said that small and medium enterprises need to carefully consider investment costs and long-term benefits to develop an effective sustainable strategy.

In addition, businesses need to understand each step in the supply chain to ensure that every process meets sustainability standards.

In addition, businesses should not increase prices too high for sustainable products. Unreasonable price increases can make consumers lose interest in the product.