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Vietnamese firms need to embrace green export strategy: forum

Vietnamese firms need to embrace green export strategy: forum

Wednesday, November 30, 2022, 13:47 GMT+7
Vietnamese firms need to embrace green export strategy: forum
Prime Minister Pham Minh Chinh attends the Green Economy Forum and Exhibition 2022 on November 28, 2022. Photo: N.Binh / Tuoi Tre

Vietnamese exporting enterprises should change their mindset and employ the green transition in their export strategy to meet the strict requirements of the market, said delegates at a seminar themed “green export promotion” held in Ho Chi Minh City on Monday.

Green transition becomes standard

At the seminar, which is in the framework of the Green Economy Forum and Exhibition 2022, Truong Dinh Hoe, general secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), said local firms need to pay more attention to the sustainability of their value chains.

He cited an example of a Vietnamese shrimp exporting firm losing an opportunity to ship its products to the European Union (EU) as it uses plastic trays for packaging and was slow to convert to environmentally-friendly packaging products.

Green and sustainable products have affected the growth of exporting enterprises. Therefore, embracing the green export strategy will help local enterprises gain foreign buyers’ preference, thus improving their competitiveness.

The textile and garment sector is among those subject to stringent green standards. Vietnamese apparel products must meet 75 to 96 criteria of other countries.

In particular, the EU requires that textile and garment exports can be recycled and repaired.

According to Vu Ba Phu, head of the Vietnam Trade Promotion Agency, green and sustainable development standards were earlier seen in high-end segments only. They now become a popular requirement in all segments.

Avoiding being off the table

Bartosz Cieleszynski, deputy head of the Division for Trade and Economic Affairs at the EU Delegation to Vietnam, said Vietnamese enterprises can gain benefits from the green technology application and promotion.

Green technology is within the reach of Vietnam, Cieleszynski added.

The EU also focuses on encouraging organic cultivation. Over the past few years, the bloc has increased organic imports from Vietnam, such as tropical fruits, vegetables, processed food, and seafood.

Speaking at the forum, Minister of Industry and Trade Nguyen Hong Dien said green growth and the circular economy have become trends. New requirements for trade and investment have been formed.

Key importing markets have imposed high tax rates on products with high carbon footprints, which means the greenhouse gas emissions generated by the products throughout their entire life cycle.

“Green production, green export, and green growth are issues of economic development and long-term strategies to which agencies under the ministry will attach much importance,” the minister said.

Speaking at the opening ceremony of the Green Economy Forum and Exhibition 2022, Prime Minister Pham Minh Chinh said Vietnam is one of the five countries most vulnerable to climate change.

Therefore, climate change alleviation and green growth are the country’s top priorities.

The government leader called on European enterprises investing in Vietnam to ensure both economic and human development benefits.

He expected European countries to provide advanced technology and low-cost green capital to Vietnam as the developing country is undertaking missions as a developed country.

Vietnam’s import-export turnover reached nearly US$620 billion in the January-October period of this year, up 14.1 percent year on year. 

The figure is expected to increase to $750 billion this year, rising 16 percent.

The country recorded a trade surplus of $9.4 billion in the 10-month period, Cong Thuong (Industry and trade) newspaper reported, citing Minister of Industry and Trade Dien.

The Green Economy Forum and Exhibition 2022, themed “European innovations and sustainable solutions for Vietnam, is being held by the European Chamber of Commerce in Vietnam and the Vietnamese Ministry of Industry and Trade in Ho Chi Minh City from November 28 to 30.

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

Vietnamese exporting enterprises should change their mindset and employ the green transition in their export strategy to meet the strict requirements of the market, said delegates at a seminar themed “green export promotion” held in Ho Chi Minh City on Monday.

Green transition becomes standard

At the seminar, which is in the framework of the Green Economy Forum and Exhibition 2022, Truong Dinh Hoe, general secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP), said local firms need to pay more attention to the sustainability of their value chains.

He cited an example of a Vietnamese shrimp exporting firm losing an opportunity to ship its products to the European Union (EU) as it uses plastic trays for packaging and was slow to convert to environmentally-friendly packaging products.

Green and sustainable products have affected the growth of exporting enterprises. Therefore, embracing the green export strategy will help local enterprises gain foreign buyers’ preference, thus improving their competitiveness.

The textile and garment sector is among those subject to stringent green standards. Vietnamese apparel products must meet 75 to 96 criteria of other countries.

In particular, the EU requires that textile and garment exports can be recycled and repaired.

According to Vu Ba Phu, head of the Vietnam Trade Promotion Agency, green and sustainable development standards were earlier seen in high-end segments only. They now become a popular requirement in all segments.

Avoiding being off the table

Bartosz Cieleszynski, deputy head of the Division for Trade and Economic Affairs at the EU Delegation to Vietnam, said Vietnamese enterprises can gain benefits from the green technology application and promotion.

Green technology is within the reach of Vietnam, Cieleszynski added.

The EU also focuses on encouraging organic cultivation. Over the past few years, the bloc has increased organic imports from Vietnam, such as tropical fruits, vegetables, processed food, and seafood.

Speaking at the forum, Minister of Industry and Trade Nguyen Hong Dien said green growth and the circular economy have become trends. New requirements for trade and investment have been formed.

Key importing markets have imposed high tax rates on products with high carbon footprints, which means the greenhouse gas emissions generated by the products throughout their entire life cycle.

“Green production, green export, and green growth are issues of economic development and long-term strategies to which agencies under the ministry will attach much importance,” the minister said.

Speaking at the opening ceremony of the Green Economy Forum and Exhibition 2022, Prime Minister Pham Minh Chinh said Vietnam is one of the five countries most vulnerable to climate change.

Therefore, climate change alleviation and green growth are the country’s top priorities.

The government leader called on European enterprises investing in Vietnam to ensure both economic and human development benefits.

He expected European countries to provide advanced technology and low-cost green capital to Vietnam as the developing country is undertaking missions as a developed country.

Vietnam’s import-export turnover reached nearly US$620 billion in the January-October period of this year, up 14.1 percent year on year. 

The figure is expected to increase to $750 billion this year, rising 16 percent.

The country recorded a trade surplus of $9.4 billion in the 10-month period, Cong Thuong (Industry and trade) newspaper reported, citing Minister of Industry and Trade Dien.

The Green Economy Forum and Exhibition 2022, themed “European innovations and sustainable solutions for Vietnam, is being held by the European Chamber of Commerce in Vietnam and the Vietnamese Ministry of Industry and Trade in Ho Chi Minh City from November 28 to 30.

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

Thanh Ha - N.Binh / Tuoi Tre News

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