The German Business Association (GBA) on Thursday successfully held its inaugural GBA Gala Dinner & Business Awards at Vinpearl Landmark 81, Autograph Collection in Ho Chi Minh City to recognize and celebrate exceptional businesses across various sectors, including Green Business, Business Innovation, SME Excellence, CSR Achievement, and Young Innovation.

The event was graced by the presence of 200 members and special guests, namely Dr. Josefine Wallat, German Consul General, Dominik Meichle, chairman of EuroCham Vietnam, along with jury members and the award contenders.

Opening the event, Alexander Ziehe, chairman of GBA, stated, “The GBA Business Awards were conceived to celebrate the collective excellence of the GBA community, recognizing outstanding contributions in sustainability, innovation, entrepreneurship, and corporate social responsibility.

“This event honors the strength, resilience, and forward-thinking spirit of businesses, showcasing their dedication to innovation and commitment to excellence despite global challenges.”

“German companies tend to not only excel in their industries or be hidden champions offering unique solutions, but they stand for quality, innovation, sustainability, and corporate responsibility,” Dr. Wallat remarked at the celebration.

“The GBA Awards recognize all of these qualities and are a testament to the strong relationship between Germany and Vietnam.”

The GBA Business Awards featured 32 companies competing in four categories: Green Business of the Year, Business Innovation, SME Excellence, and CSR Achievement.

The top three winners in the Green Business, Business Innovation, and SME Excellence categories will advance as nominees for the EuroCham Business Awards in October.

The champions of the GBA Business Awards 2024 are:

* Green Business of the Year: Nestlé won a prestigious award for its outstanding water management sustainability efforts across its supply chain, operations, and communities. Through initiatives like the NESCAFÉ Plan and the LAWACO project, the company has significantly reduced water usage, improved water efficiency in factories, and increased access to safe water and sanitation in local communities, earning recognition for responsible water stewardship.

* Business Innovation Award: Bosch Vietnam was honored for introducing a solution that leverages digital twin technology and predictive maintenance to optimize industrial assets, enhance productivity, and provide a competitive edge.

* SME Excellence Award: PALLAS BrandFare received the award by collaborating with technology providers to refine strategies for launching and promoting products with limited resources, introducing new customizable solutions like StrategiX BrandFare and Digital BrandFare, and launching modular training sessions to help companies optimize marketing and branding efforts amidst cautious investment climates.

* CSR Achievement Award: Super Energy Corporation has achieved notable success in Corporate Social Responsibility through scholarships for disadvantaged students, health insurance coverage, water filtration projects, and seasonal gift-giving, and is also dedicated to environmental sustainability by supporting climate change mitigation, coastal protection, biodiversity conservation, and community engagement.

The GBA Young Innovation Award, inspired by the successful GBA Business Challenge launched in 2020, has developed into an exciting platform for Vietnamese students and budding entrepreneurs.

This year, 18 submissions were received, each showcasing uniquely inspiring business plans.

The top three finalists had the opportunity to present their ideas during the event, with the winner determined by an online vote from participants.

They were awarded financial support from the GBA CSR fund to help bring their innovative business ideas to fruition.

“As a business association, the German Business Association believes that it can make a more sustainable impact by encouraging and mentoring young talents,” said Tuan Vi, GBA board member and project leader of the GBA Business Awards.

“The Young Innovation Award is an effort of the GBA to create and support new start-ups, which later can create jobs, income as well as contribute to the economic development of Vietnam in the long term.

“Through this initiative, we also want to create a connection between the German business values and Vietnamese entrepreneurship spirit that might open many cooperation and business opportunities in the future.”

The champion of the GBA Young Innovation Award is the COPEPODS team from the University of Economics and the University of Science and Education, both under the University of Da Nang, who are pioneering a sustainable future for aquaculture.

Their business idea is a company that produces high-quality copepods, an ideal food for fish larvae, significantly enhancing survival rates and growth.

By supporting fish farmers and promoting a healthy marine ecosystem, COPEPODS exemplifies excellence in quality and innovation.

The first runner-up of the Young Innovation Award is the DeepVoucher team from the University of Economics Ho Chi Minh City and the Ho Chi Minh City University of Technology, who are set to transform the voucher ecosystem with their easy-to-create and highly secure voucher system.

By leveraging blockchain technology, DeepVoucher reduces costs and boosts system security, paving the way for a more efficient and reliable voucher solution.

The second runner-up of the Young Innovation Award is the V-Carbon team from the University of Economics and the University of Science and Education.

They offer an effective platform for carbon credit trading, along with advanced software for accurate carbon footprint calculation and monitoring.

Their streamlined project management system optimizes the entire carbon credit lifecycle.

The GBA Business Awards, having garnered significant success since its inaugural event, can be considered a pivotal moment, establishing what is expected to become an annual tradition dedicated to honoring outstanding businesses within the GBA community.