Put CSI on the “heart” of the business

2018 continues to mark a dynamicand vibrant yearas the global economic picture and development environment continue to undergo profound transformation.In Vietnam, we have also received much   news   of   integration    andeconomic  growth:   a   free    trade agreement like the CPTPP has just been  approved  by   the   National Assembly, or Vietnam- EU FTA is also in the process of signing and ratifying in early 2019. These new generation

 FTA agreements are opening up great opportunities for the development of the country's economy and business community. Along with that are new initiatives and programs of action by the Government to create motivation for the development of the business sector, such as building the VietnamBusiness  Development  Index     or launching the emulation movement in the business community, entrepreneurs through the program “Vietnamese goods conquered the Vietnamese”. Also at the APEC Senior Executive Meeting 2018, PwC announced a very positive study. Among 21 APEC economies, Vietnam has become the first choice for investors in the Investment activities in the next 12 months. This result shows that the tireless efforts of the Government, related agencies and the business community in recent years have paid off.

Vietnam can only benefit from FTAs, as well as opportunities to become FDI winner or to successfully implement business development goals when there are solutions to promote and enhance capacity of competitiveness of the economy, business community in the direction of sustainable development. The three pillars of sustainable development are economic efficiency, social harmony and environmental friendliness. In other words, corporate profits must be achieved through social services, for the benefit of the human beings and not to hurt the earth. For businesses, these values are becoming the core competitive strength. 2018 continues to mark a dynamic and vibrant year as the global economic picture and development environment continued to undergo profound transformation.In Vietnam, we have also receivery much   news   of   integration    and economic  growth:   a   free    trade agreement like the CPTPP has just been  approved  by   the   National Assembly, or Vietnam- EU FTA is also in the process of signing and ratifying

in early 2019. These new generation FTA agreements are opening up great opportunities for the development of the country's economy and business community. Along with that are new initiatives and programs of action by the Government to create motivation for the development of the business sector, such as building the Vietnam Business  Development  Index     or launching the emulation movement in the business community, entrepreneurs through the program “Vietnamese goods conquered the Vietnamese”. Also at the APEC Senior Executive Meeting 2018, PwC announced a very positive study. Among 21 APEC economies, Vietnam has become the first choice for investors in the Investment activities in the next 12 months. This result shows that the tireless efforts of the Government, related agencies and the business community in recent years have paid off.

Vietnam can only benefit from FTAs, as well as opportunities to become FDI winner or to successfully implement business development goals when there are solutions to promote and enhance capacity of competitiveness of the economy, business community in the direction

In the current context, sustainable development is a new strategy and business model of the business entities and as the “laissez-passer” of the business to the market and towards the future. Value chain chooses partners, consumers choose products and services, workers choose workplace ...all are oriented towards values of human nature, sustainable rather than just getting short-term economic benefits. Sustainable businesses are companies that can offer the first choice of products and services, and also where the workers choose their ideal workplace.

As soon as this became known, VCCI, as the representative of the business community, established the Vietnam Business Council for Sustainable Development (VBCSD) in 2010 to help build a business community. VBCSD has been carrying out a series of programs aimed at green growth, promoting the roll out of the economy in Vietnam and especially VBCSD, VCCI has painstakingly built together with leading domestic and international experts the Sustainable Business Indicators (CSI) and implementation of the annual Sustainable Business Assessment Program from 2016 under the guidance of the Government. CSI is a great tool to measure the health in three areas: economy, society, environment. CSI is not limited to 131 indicators, but above all, CSI helps all businesses - especially small and medium enterprises - plan a specific roadmap to build a sustainable development strategy, early detection of risks as well as new business opportunities, through which business management can be more effective in the direction of sustainable development. Therefore, VCCI encourages the business community, especially members of the board of directors, to carefully study the CSI set of indicators, put CSI in the heart of the business, help businesses develop their potential development 

This year, the Sustainability Assessment Program has recorded nearly 500 businesses. In addition to large enterprises, transnational corporations, there are also many small and medium enterprises in Vietnam. This can be a good sign, as more and more of our businesses pursue sustainable business thinking, becoming “green seeds” in the “garden” of the business community.

A recent report has shown that successful implementation of 17 sustainable development goals by 2030 will open up business opportunities worth at least $ 12 trillion, or will create at least $ 380 million employment - with almost 90% created in developing countries. So why does our business community not change so quickly that it can turn sustainable development into a long-term competitive advantage and capture the great opportunities that come from it?

We all know it is not easy to ignore the immediate gains and choose the path of humanistic business, for long-term goals, to build economic interests in harmony with social development and protection of environment. Therefore, those pioneers deserve the support and praise of the whole society. The newly praised examples not only demonstrate the efforts to create a favorable business environment, towards the sustainable development of the Government, related agencies to be increasingly effective, but also this shows the spread of the Program and Indicators in the business community.

The road to 2030 is not long, if not act right from now, we will probably be left behind. No big deal, let's start from the change of business thinking, scrutinise 17 Sustainable

Development Goals, select appropriate targets to integrate into the strategy. The CSI indicator set can be used to manage the business more effectively. When the business has taken the initiative to transform itself, prepared thoroughly internal strength, inevitably profit and growth in the long term will come. And then, the recognition from VCCI's Sustainable Business Assessment Program will empower businesses to better attract investment capital and capture the bright future. VCCI Chairman Vu Tien Loc also expects to have new faces soon, the new “green heels” to accompany VBCSD, VCCI on the green journey, towards the future of sustainable development. We are working to bring the message to the world: Vietnam will accelerate and become a high-middle-income country within the next two decades with impressive results in equality, social justice and State management efficiency. To do that, take the spirit of “Saint Giong” when conquering new challenges, and write the story of a strong Vietnam with our inner strenth; be open, trustworthy in cooperation and sustainable in development in the future