Vietnam Aims for ESG to Foster Inclusive Growth

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by KnowESG
KnowESG_Vietnam ESG investment
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In its pursuit of inclusive growth, Vietnam is actively seeking to attract investment with a strong emphasis on Environmental, Social, and Governance (ESG) practices.

This commitment to sustainable development positions the country as an appealing destination for investors who prioritise ESG considerations, aiming to make a positive impact on both the economy and society.

The recent Vietnam ESG Investor Conference 2023, held in Ho Chi Minh City, provided a platform for discussions on the country's ESG potential.

Daniel Stork, the Consul General of the Netherlands, highlighted Vietnam's attractiveness as a nation blessed with a natural environment and remarkable people. He further emphasised that doing business in Vietnam aligns with international standards and regulations related to preserving the health of the planet.

Stork highlighted that ESG factors have gained significant importance for companies worldwide. It is not merely a matter of growth but rather a necessity for survival to adhere to ESG investment standards. The adoption of sustainable and responsible practices is seen as a crucial driver for long-term value creation in companies.

The Netherlands government, Vietnam's largest EU investor and second-largest EU trade partner is actively collaborating with partners to provide funding for sustainable development projects in Vietnam. These projects focus on areas such as renewable energy, clean water supply, and food safety, ultimately creating employment opportunities, generating income, and improving the lives of the people.

Sarah Hooper, the Consul General of Australia, stressed the importance of high-quality foreign direct investment for Vietnam. The partnership between Australia and Vietnam aims to address pressing priorities, including climate change, gender equality, rapid digitalisation, and knowledge and skills development. As part of their commitment, Export Finance Australia (EFA) plans to offer a loan of AU$200 million for grid upgrades in Vietnam.

Srini Nagarajan, the Managing Director and Head of Asia at British International Investment expressed her intention to support climate finance projects in priority markets like Vietnam. The company's goal is to foster sustainable, productive, and inclusive economic growth through their involvement.

Vietnam's concerted efforts to attract ESG-focused investment demonstrate its commitment to sustainable development and inclusive growth. As more countries and organisations recognise the importance of ESG considerations, Vietnam's strides in this domain position it as an attractive investment destination.

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Source: Việt Nam News

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