[News from Member] Vietnam Economic News Recap – January 2024

With the dawn of the new year, Grant Thornton Vietnam is excited to introduce the 2024 series of the “Economic News Recap” publication, covering the essential macro-economic headlines in Vietnam each month throughout the year, starting with the January report.

In this release, we summarized some of the most important news and stories in January 2024, including:

  1. Positive projections for Vietnam’s economic growth in 2024;
  2. Emerging challenges for Vietnam’s exports;
  3. Report on Vietnam’s industrial property market in 2023;

and more to be discovered in our publication.

Please kindly find the publication in the attachment. We hope our publication will be of good value to you.

Please find report here: https://drive.google.com/file/d/1n4jBgcD0LB5IlH_h7s-Igk7JIB5oH1LZ/view?usp=sharing

Recap Day 2 Breakout sessions “ESG: Evolving to the Next Level” – Afternoon

Exactly one week ago, in the afternoon of December 1st, BeLuxCham had its last 4 breakout sessions of its biggest #esgconference ever.

#transparency and #disclosure, moderated by the Vice-Chairman of EuroCham Vietnam, brought together speakers of Vietnam Chamber of Commerce and Industry VCCI HCMC Branch, who discussed how Vietnamese companies are tackling the lack of transparency on #esgdata, followed by PNJ‘s example on how they apply ESG and #dataprotection, and Fair Finance Vietnam who presented the initial progress towards #sustainability through disclosure of #ESGcommitments in the banking sector.

#greenhousegasemissionsreduction, moderated by BeluxCham Vietnam’s Chairman, discussed #greenlogisitics with ITL (In Do Trans Logistics Corporation), the practical approach of #carbonemissionsreduction across buildings by Teraoasia, and ERM provided an overview of what it means on a corporate level.

#diversityandinclusion discussed the #genderwagegap and #paternityleave by Women In Business SC of EuroCham Vietnam, #diversityandinclusion in child’s rights and business by UNICEF Viet Nam – Quỹ Nhi Đồng Liên Hợp Quốc, how to leverage the #womenleaders in business network to promote D&I in Vietnam by HAWEE – Hội Nữ Doanh Nhân HCM, and gave clear examples on how Merck Vietnam fosters #diversity, #equality, and #diversion.

#leadershipdevelopment discussed the fact that #leading has different angles: your business, others and yourself, that #resilience is a key skill in today’s world, that #feedback has to happen on a regular basis, and that #leadershipdevelopment is #relevant for all and should not be mixed up with career development. The active discussion was moderated by Televic Conference‘s APAC Business Development Director, who gave the floor to DEEP C Industrial Zones – Khu công nghiệp DEEP C’s CEO, Starbucks Vietnam’s GM, BOSCH VIET NAM‘s Managing Director, and Managing Director of Dynamic Consulting Co., Ltd

#ESG#ESGconference#20yearsBeLuxCham#50yearsBelgiumVietnam#innovation#sustainability #childrenareourfuture #makingadifference #strongertogether

Recap Day 2 Breakout sessions “ESG: Evolving to the Next Level”

On the morning of December 1st, BeluxCham Vietnam continued its #esgconference with another 4 breakout sessions going on simultaneously, #engaging and #interacting with participants on specific topics related to the E, the S and the G.

#circulareconomy, moderated by the Sustainability Strategist and Advisor of Ameln & CO., brought together speakers of CL2B, who presented #challengesandopportunities in establishing #circularsystems in Vietnam, followed by #casestudies regarding #sustainablepackaging by HRK Group, and a #collaboration example of which De Heus Vietnam, Heineken Vietnam, and Entobel each showed how they apply #sustainability and #circulareconomy within their companies and the collaboration between them.

Throughout the workshop of Christa Stienen on #humancapitalmanagement, she showed and discussed the #HRlifecycle with the participants and engaged them, together with the Chairman of BeluxCham Vietnam as moderator, in clear examples how to #apply and #implement the S in ESG within their company.

#corporategovernance brought together speakers of Solvay Brussels School of Economics and Management – Vietnam, Puratos Grand-Place Vietnam, Grant Thornton Vietnam & Thailand and The Purpose Business, who discussed together with EuroCham Vietnam‘s board member as moderator, the #roleofboard in the #integration of ESG, the power of #effective governance, #impact weighted value review, and #purpose as the answer to good governance.

#innovationinhealthcare discussed new #innovativesolutions in Vietnam and what the Vietnamese market needs to continue its #innovativejourney. Case studies were presented by GSK, B Medical Systems, Oxford University Clinical Research Unit – OUCRU and Hanh Phuc International Hospital, moderated by BeluxCham Vietnam’s board member.

#ESG#ESGconference#20yearsBeLuxCham#50yearsBelgiumVietnam#innovation#sustainability #childrenareourfuture #makingadifference #strongertogether

Recap Day 1 Breakout sessions “ESG: Evolving to the Next Level”

On the afternoon of November 30th, the conference continued with 4 breakout sessions going on simultaneously, and focusing on specific topics related to the E, the S and the G.

#sustainableagriculture brought together speakers of TDL Solutions, DRD Vietnam (Disability Research and Capacity Development Center), Ngồi Cafe Workspace, and Buy By Heart to discuss a complete integrated #ecosystem in #agriculture and share their #sustainable#partnership model in #impactfulbusiness, moderated by DEEP C Industrial Zones – Khu công nghiệp DEEP C‘s Head of Sustainability and Environment.

#labormanagement and #development presented by Ipsos, Raise Partners, and Pizza 4P’s ‘s discussed, together with the Country HR Manager of Pierre Fabre Group as moderator, how to improve #workforcedevelopment in the #supplychain through ESG, what are the Vietnamese sentiments and impacts on labor management, and Pizza 4P’s presented a case study on how they develop #modelleadership.

#Industry40 brought clear examples of #digitalization by FPT Digital which introduced the audience to #DESG, how #evcharger can accelerate the ESG journey by EBOOST, and clear examples of #digitalization and #sustainability through #façadeengineering were brought by Van Aelst – Nguyen & Partners Architecture Consulting, moderated by BeluxCham Vietnam’s board member.

#mentalhealthintheworkforce engaged their audience with #interactive#awareness exercises on #emotionalintelligene and providing clear #casestudies from ESI Institute, UNICEF Viet Nam – Quỹ Nhi Đồng Liên Hợp Quốc, @Viet Ideas and Care & Training Center, and Trạm tâm lý Tâm Nhung (Tam Nhung Social Enterprise).

#ESG#ESGconference#20yearsBeLuxCham#50yearsBelgiumVietnam#innovation#sustainability#childrenareourfuture #makingadifference #strongertogether

BeLuxCham ESG Conference 2023 Press Release

The Belgian-Luxembourg Chamber of Commerce in Vietnam (BeLuxCham), the Embassy of Belgium in Vietnam, and DEEP C Industrial Zones have organised their conference “ESG: Evolving To The Next Level”. The conference focused on exchanging insights on exemplary business practices based on the three pillars of Environment, Social, and Governance (ESG), particularly in the context of implementing the EU-Vietnam Free Trade Agreement (EVFTA) and Vietnam’s commitment to achieving near-zero carbon emissions by 2050.

In recent times, the adoption of ESG methodologies has been gaining momentum and attracting businesses in Vietnam, primarily due to the proactive efforts of the Vietnamese government in promoting sustainable investment and development in addressing the country’s numerous social and environmental opportunities and challenges.  In light of this, the conference “ESG: Evolving To The Next Level” was organised with the objective of bolstering awareness and comprehension of ESG business practices among private sector partners and governmental entities in Vietnam, while fostering collaboration and growth between Belgium, Luxembourg, Europe, and Vietnam.  Belgium’s largest investor in Vietnam, DEEP C Industrial Zones, showed during the Conference first hand how implementing ESG principles supports its sustainable growth in Vietnam.

The “ESG: Evolving To The Next Level” conference consisted of 1 plenary session, 12 breakout sessions, and a closing gala dinner. The plenary session facilitated high-level dialogue among distinguished participants including European, Belgian, Luxembourgish, and Vietnamese government representatives and key private sector leaders and stakeholders. Break-out session topics included sustainable agriculture, carbon emission reduction, diversity and inclusion in the workplace, Industry 4.0, and leadership development.

H.E. Ambassador of Belgium to Vietnam – Mr. Karl Van Den Bossche, shared: “As the beating heart of Europe, Belgium has consistently contributed to and played a significant role in building and shaping the future of the region. We demonstrate our commitment to global goals by focusing on the development of a sustainable society based on ESG principles. This conference is a unique opportunity to highlight these dimensions in our trade with Vietnam and also celebrate the 50 years of bilateral relations between Belgium and Vietnam, while setting the blueprint for the next 50 years and beyond.”

Mr. Karl Van den Bossche also discussed the impacts of the European Union-Vietnam Free Trade Agreement (EVFTA) on Belgium specifically, and European businesses in general. He stated that Vietnam benefits from the EVFTA more than four times as much as the European Union does. The liberalisation of tax policies is necessary to promote equitable development and growth for both Vietnam and the European Union in the future. In addition to the aforementioned concerns, Mr. Karl Van den Bossche emphasised certain important aspects related to Sustainable Development during the High-Level Conference. He asserted: “The EU is strongly committed to supporting Vietnam’s journey towards achieving Net Zero emissions by 2050, as outlined in the Global Gateway Strategy. The EU backs this commitment with financial support and plans substantial contributions to address climate change mitigation and adaptation.”

H.E. Ambassador of the European Union (EU) to Vietnam – Mr. Julien Guerrier expressed pride in the commitment of European businesses to invest in their personnel and foster a culture of sustainability. He stated: “In an era of increased transparency and accountability, good corporate governance is no longer a choice; it is an imperative. We must uphold the highest ethical and legal standards in our business practices. This conference will provide you with insights into the evolving governance landscape and equip you with the tools to navigate potential challenges. By adopting robust governance practices, we can build trust, attract investment, and create sustainable business value.” At this High-Level Plenary Session, Mr. Julien Guerrier also announced the co-launch of Vietnam and the International Partners Group in the Resource Mobilisation Plan of the Joint Environmental and Trade Project (JETP) at COP 28 in Dubai.

Mr. Olivier Do Ngoc, H.E. The Honorary Consul of Luxembourg in Vietnam expressed a unified perspective on strengthening cooperation, enhancing exchanges, and pledging support to Vietnam, particularly in the field of green finance. He emphasised the consensus to promote cooperation between stock exchanges and enhance financial resources to support Vietnam in implementing its green growth strategy. Through the ESG Conference, Luxembourg demonstrated a spirit of close collaboration and a determination to accompany Vietnam in its transition and environmental preservation, with two projects worth 7 million euros in the field of environmental protection and climate change adaptation.

Ms. Pascale Delcomminette, CEO of Wallonia Export and Investment Agency (AWEX), expressed appreciation for this session. “Today’s forum is particularly special as it takes place against the backdrop of the 50th anniversary of bilateral relations between Belgium and Vietnam, and the 20th anniversary of BeluxCham. These milestones underscore the enduring partnerships that have been cultivated over the years, emphasizing the shared commitment to sustainable and responsible business practices” – Ms. Pascale Delcomminette shared.