In recent discussions surrounding Environmental, Social, and Governance (ESG) standards, a significant transformation is occurring among Vietnamese businesses, particularly within the small and medium enterprise (SME) sector. Traditionally seen as an expensive endeavor reserved for large corporations, ESG is now being recognized as a vital management tool that can enhance productivity and economic efficiency.

During the ESG Company Tour 2026 and various forums organized by Dân trí, it was evident that the perspective of the Vietnamese business community is evolving. ESG is no longer perceived as a theoretical burden or an unnecessary expense; instead, it is viewed as a direct management strategy that can reduce waste, optimize operations, and increase profits.

Changing Mindsets on ESG

One of the main barriers for many businesses in adopting ESG practices has been the fear of resource allocation and investment costs. However, industry leaders suggest that even minor adjustments in operational processes can lead to significant improvements. Đặng Thu Trung, Director of ASCOM, emphasized that ESG should not be seen as an external cost but as a means to improve management. He noted, "If implemented correctly, reducing electricity consumption lowers costs, minimizing material waste increases profits, retaining employees reduces recruitment costs, and transparent management reduces risks. This is the real economic value of ESG."

Similarly, Đinh Quỳnh Trang, founder of Nestoria Vietnam, pointed out that SMEs often face pressure regarding cash flow and revenue. Therefore, ESG should be approached from an optimization perspective. For manufacturing units, environmental factors can help cut costs and optimize production costs, while for trade and service sectors, social and governance aspects are crucial for risk mitigation and enhancing valuation.

Technological Integration and Operational Efficiency

In a challenging economic landscape marked by market fluctuations and compliance costs, the integration of green solutions and technology has proven to enhance daily operational efficiency. Phí Thị Hương Quỳnh, Director of Vietnam Tourism Investment and Services Company, shared that her company has adopted artificial intelligence and digital software for process management. This shift from paper documentation to digital data and electronic signatures has not only reduced office waste but also significantly cut operational costs and processing times.

In larger manufacturing plants, the effectiveness of ESG is reflected through synchronized technical solutions. Nguyễn Quốc Cường, Director of External Relations and Sustainable Development at Tesselation Vietnam, affirmed that ESG is a continuous improvement journey intertwined with production activities. He highlighted specific models, such as biomass incineration systems and solar rooftop installations, that all factories can learn from to optimize energy usage and enhance operational capabilities.

The Imperative of ESG Adoption

Beyond internal value, the practice of ESG is becoming essential for companies to maintain their market position. Phí Văn Tuấn, Director of Đại Cát Construction and Investment Company, described ESG and green transformation as a "mandatory ticket" for Vietnamese companies to sustain their competitive edge. Delays in adopting these practices could result in lost export markets, burdens from carbon tax barriers, and difficulties in securing financing from credit institutions.

Despite these challenges, the mindset of leadership plays a crucial role. Đỗ Kim Cơ, Director of Vietnam Book and Media Company, stated that proactive and informed leadership is key to navigating the green transformation journey. To effectively support SMEs, Đặng Thu Trung proposed a 30-60-100 day action plan: the first 30 days for assessing current status, the next 60 days to implement one or two key solutions such as reducing power consumption or digitizing documents, and finally evaluating and scaling after 100 days.

The close collaboration within the business ecosystem—where larger companies share experiences, experts provide solutions, and smaller units enhance their capabilities—opens up practical pathways for ESG to become a driving force for productivity in the Vietnamese business community.

The Vietnam ESG Forum, initiated and organized by Dân trí since 2024, features a series of workshops, discussions, company tours, and the Vietnam ESG Awards, which honors entities excelling in ESG implementation. The theme for the 2026 forum, "Seizing Opportunities - Leading Growth," emphasizes the increasing importance of ESG standards in determining a company's competitiveness. This year’s forum not only highlights the urgency of early action but also focuses on the pioneering role of businesses and organizations in transforming challenges into sustainable growth drivers.