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Directing the private business sector to sustainable growth


On November 22, 2022, under the co-chair of Deputy Minister Tran Quoc Phuong and USAID Asia Regional Director Michael Schiffer, Ministry of Planning and Investment in collaboration with the United States Agency for International Development (USAID) organizes the Forum to promote the private sector towards sustainable growth.

Attending the Forum were Ms. Melissa Bishop, Deputy Ambassador of the US Mission to Vietnam, Ms. Aler Grubbs, Country Director of USAID in Vietnam; representatives of ministries, branches, international organizations, domestic and foreign enterprises.

The trend of green growth and sustainable development is increasingly being considered as one of the key solutions to solve global problems, in which the focus is on climate change and environmental pollutionincreasingly due to the inappropriate production and business activities of people, the Forum to promote the private sector towards sustainable growth is a meaningful activity. This helps Vietnamese businesses to further raise awareness, access technical support sources to strengthen their capacity to practice standards, assessment frameworks, and sustainable business models.

  Deputy Minister Tran Quoc Phuong delivered the opening speech of the Forum.

Deputy Minister Tran Quoc Phuong highly appreciated USAID's cooperation in accompanying the Ministry of Planning and Investment to support sustainable private sector development. Over the past time, USAID and the US Embassy in Vietnam have supported and cooperated closely with the Government of Vietnam and the Ministry of Planning and Investment in socio-economic development, especially development of the region. private sector in Vietnam.

Deputy Minister Tran Quoc Phuong emphasized that at present, climate change is having an increasingly large impact on the life, economy and society of every country in the world and Vietnam is no exception. Aware of that, the Government of Vietnam has issued Agenda 21 "Strategic orientation for sustainable development in Vietnam"; followed by the National Action Plan to implement the 2030 Agenda for Sustainable Development” with 17 sustainable development goals; The national strategy on green growth for the period 2021-2030, with a vision to 2050, in which the intensity of greenhouse gas emissions is reduced by 15% by 2030, 30% by 2050, and at the same time, the growth model is transformed. towards the greening of economic sectors, in which, the corporate sector plays an important role in this transformation.

Mr. Michael Schiffer, USAID's Regional Director for Asia spoke at the Forum.

At the Forum, Michael Schiffer, USAID's Regional Director for Asia, said: "We will support the Vietnamese business sector so that they can compete in the world and have more sustainable development." this is also an opportunity for us to work together to strengthen capacity and further raise awareness of environmental, social and governance issues for sustainable development. USAID) and the Ministry of Planning and Investment (MPI) signed a cooperation agreement to further strengthen the capacity of SMEs and the private sector.

Mr. Michael Schiffer emphasized, USAID will support through technology to develop renewable energy, green energy; further strengthen solutions for the business sector, including Vietnam's small and medium enterprises to develop sustainably and shape market solutions. At the same time, he expressed his belief that, with the efforts of the Ministry of Planning and Investment, we can help small and medium enterprises develop sustainably. "The private sector-led sustainable growth initiative aimed at promoting socially responsible business practices, known as the ESG standard, was announced today as a of the outcomes of that partnership," said Michael Schiffer.

Targeted by 2025, the initiative will provide ESG technical support packages for 300 SGBs, of which 10 SGBs will receive additional support to pilot, deploy, or expand innovative ESG business models. create. This effort is in line with Vietnam's Green Growth Strategy for the 2021-2030 period and the Prime Minister's Decision No. 167 on the Program to support private sector businesses in sustainable business.

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Ministry of Planning and Investment

No. 6B, Hoang Dieu street, Ba Dinh district, Hanoi City.

Vietnam CWE Project Team


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