Deputy Prime Minister Vu Duc Dam said Vietnam has gained significant achievements in sustainable development at a business forum held in mid-December.

With the theme "Sustainable Development in the New Decade: Turn Challenges Into Opportunities," Vietnam Business Forum for Sustainable Development 2020 (VCSF 2020) was held by the Vietnam Chamber of Commerce and Industry (VCCI) and Vietnam Business Council for Sustainable Development (VBCSD).

"Sustainable development is a global target with 17 sustainable development goals (SDGs) and more than 230 indicators. Seventeen global SDGs have been included in Vietnam's national action plan," said Deputy Prime Minister Vu Duc Dam, chairman of VBCSD, at the forum.

"When looking back at the whole process, and especially the past five years, we can see the significant change in sustainable development of Vietnam," he added.

In 2016, Vietnam joined the annual assessment of Sustainable Development Goals (SDGs) by the United Nations, and ranked 88th on the Sustainable Development Index. It skyrocketed to 68th in 2017.

By 2018, Vietnam jumped 11 places to 57 in the world. In 2019, it went up three places to 54th. In 2020, it placed 49th for sustainable development in the world.

However, the deputy prime minister said sustainable development in Vietnam lacks pervasiveness.

"Vietnam has 700,000 businesses, but only 2,000 businesses, or 2 percent, are members of the sustainable development business community. Only about 100,000 businesses have access to information about sustainable development," he noted.

Vu Tien Loc, chairman of VCCI, speads at Vietnam Business Forum
for Sustainable Development 2020. Credit by VCCI.

According to Vu Tien Loc, chairman of VCCI, Vietnam has finished early in implementing a number of U.N. Sustainable Development Indicators, ranking relatively high in the region.

"Activities of the Vietnamese business community amid Covid-19 shows enterprises have built their own governance models toward sustainable development," he said.

VCCI chair Vu Tien Loc noted businesses using a corporate governance model in accordance with sustainable development have higher resilience. They can stand firm under difficult and unfavorable conditions.

A survey by VCCI also found businesses using a sustainable development index enjoy higher productivity.