Speakers at the international conference 'Sustainable economic development and business management: opportunities and challenges in global frontier markets' . (Source: Academy of Finance)

From November 13-15, the Academy of Finance successfully organized the international conference 'Sustainable economic development and business management: opportunities and challenges in global frontier markets' (SEDBM2025).

The conference was held with the goal of innovating thinking, unifying awareness and action, thereby proposing comprehensive and breakthrough solutions to enhance national competitiveness, strengthen trust, and create new momentum for Vietnam and countries in frontier markets to develop rapidly and sustainably.

Building on the success of the previous seven conferences, SEDBM 2025 brought together participation from domestic and international scientists, international scholars, managers, businesses, and policymakers.

Associate Professor, Dr. Nguyen Dao Tung, Director of the Academy of Finance. (Source: Academy of Finance)

In his keynote speech, Distinguished Educator, Associate Professor, Dr. Nguyen Dao Tung, Director of the Academy of Finance, emphasized that amidst unpredictable global economic fluctuations, Vietnam faces the challenge of balancing growth objectives with sustainable development.

As one of the world's most open economies, Vietnam closely monitors international developments and actively participates in global cooperation. Comprehensive cooperation dialogue has become more crucial than ever to guide sustainable development solutions for the future.

Vietnam needs to proactively address global challenges from outside and internal economic challenges to turn them into opportunities, achieving rapid and sustainable economic growth by enhancing macroeconomic stability and maximizing the country's potential and advantages.

Additionally, in the global development trend, relying on cheap labor or outdated technology is no longer suitable. Vietnam's economy needs to transition to a green production model, applying high technology and aiming for sustainable development standards to meet the increasing demands of both domestic and international markets. This is not only a condition for maintaining growth but also a path to sustainable development. However, within challenges lie opportunities for Vietnam's economy to restructure and transform significantly, thereby strengthening its international position, enhancing resilience, and adapting flexibly to changes of the era.

In this context, Director of the Academy of Finance Nguyen Dao Tung affirmed that the conference serves as an important meeting point for the academic community, where the latest research on global economic issues is shared and introduced. The conference provides an opportunity for domestic and international scientists, international scholars, managers, businesses, and policymakers to engage in academic exchanges and make recommendations to lay the foundation for strategic transformations, contributing to bringing frontier economies closer to a sustainable, modern, and deeply integrated future.

At the conference, Professor Tom Smith from Macquarie University, Australia, presented a study titled "The Role of Frontier Markets in Promoting Global Economic Resilience". According to Professor Tom Smith, transitioning to clean energy technology will be the next technological revolution with profound global impacts. For Vietnam, to promote sustainable economic development, he recommended transitioning from a labor-intensive economy to focusing on technology and innovation; improving infrastructure and sustainability; strengthening institutions and stability; and emphasizing financial market development.

Conference overview. (Source: Academy of Finance)

Meanwhile, Professor Ellie Chapple from Queensland University of Technology, Australia, shared insights on the critical role of sustainable development as businesses face increasing pressure from society, investors, and regulators. She noted that to promote long-term growth and meet global sustainable development requirements, it is essential to aim for transparent and consistent ESG (environmental-social-governance) data and implement sustainable governance.

Presenting an overview of the evolution of accounting from traditional record-keeping to digitalization and AI application, Professor Tam Nguyen from Nottingham Trent University, UK, emphasized the inevitable shift towards sustainable accounting. The speaker clarified the role of accounting in measuring and reporting environmental, social, and governance impacts alongside financial information, as well as the transformation in corporate reporting from a financial focus to an integrated approach. He suggested enhancing workforce training, improving technical capabilities, and applying technology to develop sustainable accounting.

The conference's discussion session covered four main topics: frontier markets, sustainable development and ESG, circular economy models for electric vehicle batteries, and the shift in accounting in the context of digitalization and sustainability. Speakers agreed that these issues are having a profound impact on businesses and regulatory agencies. They concurred that businesses in frontier markets need to enhance management capabilities, proactively innovate business models, comply with new disclosure standards, and apply technology to adapt to global sustainable development requirements.

From the State's perspective, recommendations include strengthening the legal framework, harmonizing domestic standards with international norms, and promoting training and technical support for businesses, especially SMEs. Close coordination between regulatory agencies, the business community, and research institutions is seen as a core condition to promote effective, competitive, and sustainable private sector development.

A large number of guests attended the SEDBM2025. (Source: Academy of Finance)