Addressing the Forum, Deputy Minister of Science and Technology Tran Van Tung said “Covid-19 had an impact on all countries’ economic, social, and political life and on international relations. The development strategies and models of many countries are under pressure to change, after the pandemic revealed unsustainable patterns in existing production and consumption. Climate change remains one of the greatest challenges facing humanity in the 21st century”

Ms. Pham Thi Thu Hang, Director of the VSBF and CEO of the VietStar Training and Consulting JSC (VietStar), said “it was time for enterprises to associate sustainability not only with trade-offs but also with competitive advantages and long-term business performance. Organizations and leaders that incorporate sustainability into the heart of their business strategy will benefit from more resilient supply chains, efficient business practices, enhanced stakeholder interaction, and improved governance to obtain better long-term financial performance and value creation,”


How to incorporate sustainability into business strategy?

Discussing successful growth strategy implementation, Dr. Simon J.D. Schillebeeckx, Professor of Strategic Management at the Singapore Management University (SMU), said “many enterprises currently focus on profits without considering the environmental impact. However, in the new context, every enterprise must identify the goal of sustainable green transition to a low carbon economy as a mandatory requirement. In order to do that, enterprises must balance three pillars: people, profits, and planet”

 “As we invest to deliver sustainable value over the long term, sustainability is at the core of everything we do. Temasek started their sustainability efforts in 2008 and it has become the central focus of their long-term strategy, the pathway to a sustainable future is investing in climate-aligned opportunities, encouraging decarbonization efforts in businesses, and enabling carbon negative solutions. In particular, decarbonization is not a niche area and is growing exponentially. According to Mr. Fock Wai Hoong, Managing Director of Temasek International – Singapore

Mr. Wong Kim Yin, Group President and CEO of Sembcorp Industries, said “the company has changed its investment portfolio from traditional energy to clean energy, and will halve emissions by 2030 from 2010 levels and reach net-zero around 2050. In order to gain sustainability, enterprises need strategic transformation, it is necessary to have a commitment from the highest levels that is in tune with global sustainability trends, and to secure the confidence of communities around the world”

Vietnamese enterprises staying abreast of latest trends

At the United Nations Climate Change Conference of the Parties (COP26) in Glasgow last November, the Prime Minister announced that Vietnam will target achieving net-zero carbon emissions by 2050. In order to reach goals in sustainable economic growth, the government has stepped up its determination to carry out structural transformation in the energy industry towards greener, cleaner, and more efficient energy use.

Addressing the Forum, Dr. Vo Tri Thanh, Chairman of the Vietnam National Committee for the Pacific mentioned “The world is witnessing mega-trends in geo-politics, globalization and liberalization, technology, and climate change, with different scenarios. Current economic development has witnessed qualitative changes: from economic growth to sustainable and inclusive development, from “brown economy” to “green economy”, from “linear economy” to “circular economy”, and from “real economy” to “digital economy. Three driving forces in Vision 2040 for enterprises: trade and investment; innovation and digital transformation; and strong, balanced, sustainable, and inclusive growth”

To jointly achieve this goal, Mr. Hoang Quoc Vuong, Chairman of the Vietnam Oil and Gas Group (PetroVietnam), said “it has introduced development strategies prioritizing sustainable clean energy sources such as natural gas / LNG and offshore wind power. It will mainly focus on risk forecasting, risk management, portfolio management, and strategic management, restructuring to low-carbon models and promoting the application of digital transformation and innovation. PetroVietnam has the responsibility of joining hands with the government to both ensure energy security and reduce greenhouse gas emissions to protect the environment, respond to climate change, and contribute to the successful implementation of the sustainable development strategy”

Mr. Eddie Tritton, Executive Director – Singapore Management University – SMU Executive Developmen, Co-Director of the VSBF, stressed that “consumers are increasingly concerned about the environment, expecting businesses to be more sustainable and engaged. They also recognised that their choices can be catalysts for changes”.


We make efforts and focus our resource to make Vietnam – Singapore Board Forum successful and bring practical values because this peer leader forum is not only for sharing management experience and business solutions between the two countries’ business leaders to maintain growth and sustainability even in challenging contexts but also for creating values and further tightening the good relationship between Vietnam and Singapore.Ms. Mary Pham Thu Hang, Vietstar CEO & VSBF Director