The event was co-organized by the Institute for Circular Economy Development (ICED) under the Vietnam National University—Ho Chi Minh City (VNU-HCM) and the Energy Efficiency and Sustainable Development Department under the Ministry of Industry and Trade.
According to the research team of the Institute for Circular Economy Development, the retail sector in Vietnam has experienced a rapid change. The industry reached US$142 billion in 2023 and is expected to gain US$350 billion by 2025.
The e-commerce boom reflects the global digitalization trend and changes in consumer behavior. According to the survey by the Institute for Circular Economy Development, around 50 percent of businesses are currently ready to implement digital transformation in product manufacturing.
The research team also pointed out digital transformation challenges, such as technology, human resources, investment costs, policies, and legal issues.
Experts said that digital transformation and green transformation in production and business towards sustainable development are inevitable trends in the current context.
In addition to the initiative and determination of businesses, government agencies also need to implement specific supporting policies to promote sustainable production, consumption, and the circular economy.
Assoc. Prof. Dr. Nguyen Hong Quan, Director of the Institute for Circular Economy Development, stressed that the government needs to issue policies on digital transformation, support the development of digital transformation strategies for retail businesses, train a workforce for digital transformation, study and implement new technologies, invest in and build infrastructure to support digital transformation, and provide financial assistance.
