Unlocking Resources to Accelerate Green Transition in Vietnamese Enterprises

"Although awareness of the benefits and importance of green transition among businesses is increasing, the actual implementation remains limited, especially for small and medium-sized enterprises." This observation by Dr. Trần Thị Hồng Minh, Director of the Institute for Policy and Strategy Research, not only underscores a pressing issue but also reflects a widespread reality facing Vietnamese enterprises on their path toward green growth and sustainable development. The green transition is not merely a destination—it is a litmus test for the adaptability and innovative mindset of the business community in a rapidly changing world.

On April 22, the Forum "Unlocking Resources to Support Enterprises in the Green Transition" was held in Hanoi by the People's Deputies Newspaper. The event brought together a broad range of participants including policymakers, experts, scholars, representatives from state management agencies, financial institutions, and both domestic and international enterprises. The forum served as a vital platform for dialogue in the context of Vietnam’s firm commitment to achieving net-zero emissions by 2050, as pledged at COP26.

In his opening remarks, Mr. Lê Thanh Kim, Deputy Editor-in-Chief of the People's Deputies Newspaper, emphasized that climate change poses the greatest global challenge of the 21st century. Its far-reaching impacts are evident not only in extreme weather events but also in the disruption of supply chains and threats to energy and food security. According to him, it is imperative for Vietnam to abandon traditional development models that heavily rely on resource consumption and environmental degradation, and to shift boldly toward a green, circular economy—one that is low-carbon and resilient to external shocks.

At the forum, Dr. Trần Thị Hồng Minh presented a report identifying major bottlenecks hindering the green transition in Vietnamese enterprises. Financial limitations are the first barrier, with most enterprises struggling to access green capital due to high initial investment costs and lengthy payback periods. Internal capacity is also lacking, with shortages in skilled personnel, limited access to new technologies and information, and inconsistent awareness across company levels. Technical infrastructure remains insufficient, the legal framework is still incomplete and fragmented, and green values have yet to be embedded in corporate culture.

Following this, a series of expert presentations highlighted different perspectives. Mr. Nguyễn Minh Khôi (Tony Blair Institute for Global Change) addressed policy mechanisms to support businesses; Mr. Nguyễn Thanh Sơn (Vietnam Banks Association) outlined the role of green finance and the banking system in fostering sustainable business development; Mr. Lê Nguyễn Trường Giang, Director of the Digital Transformation Strategy Institute, stressed that digital transformation and green transition must go hand-in-hand to enhance competitiveness; Dr. Nguyễn Quốc Việt from the Vietnam Institute for Economic and Policy Research analyzed sustainable economic models in relation to foreign direct investment.

A thematic panel discussion on mobilizing resources and solutions to support the green transition drew active participation from leading experts. Among them were Assoc. Prof. Dr. Bùi Quang Tuấn, Vice President of the Vietnam Economic Science Association, and Mr. Nguyễn Phương Tuấn, Deputy Chairman of the National Assembly's Committee on Science, Technology and Environment, alongside Mr. Phan Đức Hiếu, a full-time member of the National Assembly’s Economic and Financial Committee, as well as academics, policymakers, enterprise leaders, and international organizations. Discussions focused on mobilizing financial, human, and institutional resources from both domestic and international stakeholders. The panelists emphasized that achieving Vietnam’s 2050 net-zero commitment requires not only the efforts of large enterprises already engaging in green practices but also stronger support for SMEs—the backbone of Vietnam’s economy.

Participating in the forum, Ms. Nguyễn Thị Minh Huệ, Project Director of KLINOVA, highly praised the depth and quality of the expert discussions. She particularly highlighted the presentation by Dr. Trần Thị Hồng Minh, which clearly identified the key obstacles facing Vietnamese enterprises in their green transition journey.

According to Ms. Huệ, the challenges are especially acute for small and medium-sized enterprises (SMEs) in Vietnam. Therefore, a more coordinated and strategic effort is required—not only from the government but also from financial institutions, support organizations, and especially the enterprises themselves. Only when resources are effectively mobilized and partnerships are strengthened can Vietnamese businesses adapt, grow sustainably, and contribute to the nation’s 2050 Net Zero goal.

She further noted that as a pioneer in green transition consulting in Vietnam, KLINOVA has been providing specialized services including greenhouse gas inventories, green transition strategies, ESG reporting, and other tailored solutions. These efforts are aimed at enhancing the competitiveness of Vietnamese enterprises in the increasingly crucial context of a green economy.

The forum concluded in a spirit of openness, consensus, and hope. The insights, analyses, and commitments shared during the event not only offered new directions for resolving key barriers to green transition but also reaffirmed the central role of enterprises in implementing Vietnam’s national green growth strategy. It marked a meaningful step toward realizing the country’s vision for sustainable development by 2050 and beyond.