In the context of green transformation and sustainable development becoming increasingly important requirements for businesses, Decision 926/QD-TTg creates a support mechanism to promote the private sector, business households, and cooperatives to transform to sustainable business models, enhance competitiveness, and better adapt to sustainable development trends.
The program aims to support private sector businesses, household businesses, cooperatives, cooperative unions, and cooperative groups in developing sustainably, ensuring a balance between economic efficiency, social responsibility, and the protection of resources and the environment. The program also contributes to achieving the Sustainable Development Goals by 2030 and Vietnam's commitment to net-zero emissions by 2050.
Regarding specific objectives, the Program aims to support approximately 25.000 businesses, households, and cooperatives in achieving sustainable business practices during the 2026-2030 period; and to develop at least 20 exemplary successful sustainable business models for dissemination and replication.
The three supported sustainable business models are:
- Business model that applies the circular economy: The aim is to reduce raw material extraction, increase recycling and reuse, extend product lifecycles, limit waste generation, and reduce negative impacts on the environment.
- Inclusive business model: Mobilizing low-income individuals to participate in the enterprise's value chain as suppliers, customers, distributors, or workers; thereby creating livelihoods, sharing benefits, and enhancing economic opportunities for vulnerable groups.
- Business models that apply ESG and other sustainable business models: Focusing on environmental, social, and governance factors in business operations helps businesses enhance transparency, governance capabilities, and brand reputation.
To be considered for support, businesses, household businesses, and cooperatives must meet one of the following conditions:
- They have received awards, certifications, or accreditations at the international, national, provincial, or ISO level related to green transformation, circular economy, environment, ESG, inclusive business, sustainable business, or social responsibility.
- It is a social enterprise as defined by law.
- Currently implementing green projects that meet circular criteria or apply the ESG framework.
- Meet the criteria for defining a sustainable business model as published on the National Portal for Supporting Small and Medium-Sized Enterprises.
- Meets the criteria framework for evaluating sustainable business models attached to the Decision.
In terms of support methods, the Program comprises several main content groups:
- Supporting the development of a sustainable business ecosystem: This includes developing materials, conducting awareness campaigns, training staff, developing a network of expert consultants, establishing digital platforms, forums, workshops, and experience-sharing activities.
- Consulting and training support: We provide consulting services on strategic planning, sustainable business model design, internal management, finance, production, sales, market access, investment fundraising, and specialized training.
- Supporting science and technology, innovation, and digital transformation: This includes technology transfer, application of technical standards, sandbox testing, quality assurance, intellectual property consulting, commercialization of technology solutions, and leasing or purchasing digital transformation solutions.
- Support for media and trade promotion: Support for market expansion, participation in e-commerce platforms, trade fairs, exhibitions, and domestic and international trade promotion activities.
Regarding the principles of support:
- Units that register their needs first will be considered for support first.
- The program also prioritizes support for businesses, household businesses, and cooperatives owned by women, people with disabilities, and ethnic minorities; those employing a large number of workers from these groups; or social enterprises.
Benefits for businesses:
- It opens up opportunities to access support resources from the government and experts.
- It helps reduce initial costs when implementing green transitions, ESG, circular economy, or sustainable business models.
- Promoting businesses to standardize their business models, improve governance capabilities, and increase transparency.
- Encouraging more efficient resource use, reducing waste, and enhancing competitiveness.
However, businesses seeking support need to provide documentation and data to demonstrate that their project or model meets the criteria for sustainable business practices. Businesses that are slow to adapt, have not paid attention to ESG, circular economy, or have not standardized their operations may miss opportunities and gradually lose their competitive advantage.
The Sustainable Business Support Program 2026-2030 not only creates a mechanism to promote sustainable business but also sends a clear signal about the inevitable trend of sustainable business transformation in Vietnam. Businesses need to proactively assess their current situation and build a transformation roadmap to take advantage of policy support opportunities to enhance their competitiveness and meet the increasingly high demands of the market.