Promoting twin transformation for Vietnamese enterprises

At the forum “Twin Transformation – A Driver for Economic Growth: From Policy to Practice” organized by the Viet Nam Chamber of Commerce and Industry (VCCI) in coordination with Business Forum Magazine, experts and enterprises said that digital transformation combined with green growth is an inevitable direction for sustainable development.

The connection between digitalization and greening

VCCI Vice President Hoang Quang Phong said that, in the context of globalization and the Fourth Industrial Revolution, twin transformation is not only a trend but has become a mandatory requirement for enterprises to develop sustainably.

Simultaneously promoting digitalization and greening production helps enterprises both increase productivity, save costs, reduce emissions, and meet international standards on environment, society, and governance (ESG).

Mr. Hoang Quang Phong cited data from the Ministry of Industry and Trade showing that the application of digital technology and smart energy management systems can help enterprises reduce 10%–15% of operating costs, increase 20% in productivity, and reduce 5%–8% of CO₂ emissions each year. Meanwhile, McKinsey & Company estimates that digital transformation in production can raise labor productivity by up to 30% and cut supply chain costs by 15%–20%.

Analyzing more deeply the relationship between digitalization and greening, Mr. Nguyen Hong Hien, Director General of the Department of Science, Technology, Innovation and Digital Transformation (under the Central Economic Commission), cited the OECD’s 2023 report “Digitalization and Green Growth”, showing that the application of digital technology, especially IoT, big data, and artificial intelligence (AI), can help enterprises reduce 10%–20% of energy consumption and CO₂ emissions, while significantly improving productivity and operational efficiency throughout the value chain.

“Digital transformation not only creates growth in output but also promotes green and sustainable growth – two goals once considered separate, now complementing each other,” Mr. Nguyen Hong Hien emphasized.

According to Mr. Nguyen Hong Hien, twin transformation contributes to implementing the Net Zero 2050 commitment and realizing the goal of rapid and sustainable development under Resolution No. 57-NQ/TW of the Politburo.

Mr. Nguyen Hong Hien also proposed four directions of action to optimize resources and turn twin transformation into a driver of growth. The first is “one infrastructure – two goals,” meaning investing in infrastructure that serves both digitalization and greening (such as green data centers, energy-saving cloud computing).

The second is the “two-in-one strategy”: each digitalization project must include green criteria and vice versa. The third is developing hybrid human resources – with both digital and green skills – to form “dual human capital.” The fourth is green finance and innovation, taking advantage of green credit, innovation funds, and science and technology funds to support enterprises.

Enterprise mindset for creating twin transformation

From a policy perspective, Mr. Pham Hong Quat, Director General of the Agency for Enterprise Development and Market of Science and Technology (Ministry of Science and Technology), said that the Government has issued the Green Growth Strategy, the National Digital Transformation Program, and many policies to promote innovation. However, “twin transformation is not only about technology but is a transformation of the business model,” Mr. Quat emphasized.

According to Mr. Quat, technology is only a tool, and people are the decisive factor. Therefore, for enterprises to transform successfully, they must first change the mindset and awareness of their leadership team. Digital transformation is shifting strongly to the “AI transformation” phase, requiring Vietnamese entrepreneurs to be ready to change organizational models, management, and long-term investment.

Twin transformation must be linked with specific models

At the discussion session “Twin Transformation – Policy and Practice,” delegates said that the two processes of digital and green transformation are still taking place separately, without a synchronized coordination mechanism; therefore, specific models are needed to connect policy with enterprise practice.

For small and medium-sized enterprises (SMEs), Mr. Mac Quoc Anh, Vice President of the Hanoi Small and Medium Enterprise Association, said that Hanoi currently has more than 400,000 SMEs, of which only about 36% have applied AI technology. The biggest barriers now are lack of capital, lack of human resources, and limited awareness.

Mr. Quoc Anh proposed that VCCI and ministries and sectors build sample roadmaps for digital and green transformation, while encouraging large corporations to share experiences and twin transformation processes with smaller enterprises. In addition, a system for evaluating and certifying “digital and green enterprises” should be established soon to build trust with consumers and international markets.

Meanwhile, Mr. Nguyen Dinh Thang, Vice President of the Viet Nam Association of Private Entrepreneurs, said that training is a key factor helping enterprises improve competitiveness and production efficiency. According to him, training programs need to be clear in objectives, specific in methods, and have outputs tied to actual needs.

Mr. Thang emphasized that digitalization is an inevitable trend and that “digital assets” are now the new core value of enterprises. Transparency, monitoring, and management of digital assets help enterprises attract investment, similar to credit ratings by banks. Many enterprises are now encouraged to participate in digital asset exchanges, which reflect real value and operate 24/7 – unlike traditional stock exchanges.

The State has also allowed the establishment of the Viet Nam Digital Asset Center to support transformation, help enterprises make data transparent, and demonstrate real capacity. Mr. Thang said that standardization and the application of high technology, especially artificial intelligence (AI), will help enterprises improve management efficiency.