He made the remark at the ceremony held in Hanoi on May 8 to launch the annual programme ranking the most sustainable businesses in Vietnam in 2018.
Balancing sustainability with economic development is no longer an issue for industrialised and wealthy countries alone, but is a critical concern for all economies, Vinh said, noting that Vietnamese businesses need to look farther rather than pursuing immediate profits.
He underlined that this year, the VCCI and the Vietnam Business Council for Sustainable Development (VBCSD) will collaborate with a group of experts to decide a standard level for sustainable development. The move aims to encourage companies to measure their efforts towards sustainable development plans besides honouring the top 100 pioneering and successful enterprises.
In order to rank 100 most sustainable companies, the Corporate Sustainability Index (CSI) continues to be used to evaluate the involved firms’ performance based on 151 quantitative criteria.
According to Dao Thuy Ha, a representative from drug maker Traphaco JSC, the CSI gives comprehensive assessment on an enterprise’s operation in terms of not only capital and finance, but also environmental, energy, climate change and worker issues.
Integrating CSI into sustainability report will make the overall picture of an enterprise become more transparent, she said, adding that the values that a firm generates are not only dividends but also job creation, environment protection and conservation of natural resources.
The top 100 sustainable businesses 2018 listing will be announced at a ceremony held in November.
The 2017 programme attracted the participation of over 500 enterprises specialising in a wide range of industries.