Vietnamese exporters are adjusting their businesses to the low-carbon consumption trend which is encouraging firms to implement green production. This is considered a considerable opportunity for these companies to make investments in sustainable manufacturing and build their own pertinent long-term visions.
The trend alludes to a method of production that has little detrimental effects on the environment. Therefore, businesses’ ability to secure or forfeit commercial prospects is determined by their own production and business plans, according to Hoang Van Tam, deputy chief of the Ministry of Industry and Trade’s (MoIT) Office for climate change and green growth.
Particularly, he stated that many multinational textile and apparel companies aim for net zero by 2050, necessitating the adoption of similar practices across their supply chains in several nations, including Vietnam. It implies that companies have to compute the carbon footprint of their supply networks and disclose their carbon emissions.
Vietnamese businesses must contend with competition from other markets for orders as well as technical obstacles posed by importers that require compliance with green standards. Both local and international customers have environmental friendliness expectations, with the move toward sustainability being essential for firms to boost competitiveness, sustain operations, and grow.
The Swiss Import Promotion Programme (SIPPO) in Vietnam, which supports Vietnamese businesses in exporting goods, emphasized that global retailers are under pressure from sustainability declarations in the EU and US markets.
In September 2023, around 300 global groups and buyers, including Walmart from the US, Aeon and Uniqlo from Japan, and IKEA from Sweden, gathered in Vietnam to seek suppliers. They highly evaluated Vietnam’s potential in green production and fast delivery, along with product quality and competitive prices.
(Source: Vietnam Plus)