Vietnamese MSMEs lag in sustainable development, experts warn

Vietnamese micro, small, and medium-sized enterprises (MSMEs) are struggling to transition to green development due to limitations in human resources and access to capital. According to a survey by the Ministry of Planning and Investment, 98% of MSMEs face challenges in adopting sustainable business models, with 70% not fully aware of the benefits of a circular economy. Hoàng Minh Chien, deputy director of the Việt Nam Trade Promotion Agency, stressed the importance of MSMEs adopting a sustainable mindset and long-term strategy. Pioneers in green development are foreign-invested firms, public companies, and exporting enterprises. Experts recommend building and maintaining corporate social responsibility, improving brand value, and strengthening cooperation with other businesses. They also highlighted the need for investment in sustainable development, raising awareness about green transformation, and developing a qualified human workforce.