Most of Vietnamese businesses have acknowledged the importance of sustainable production to their competitiveness and long-term development in the context of the growing green consumption trend.

Distributors, especially supermarkets, have been greening their process, cutting down on intermediate packaging and waste, offering environmentally friendly products, said Tạ Đình Thi, Vice Chairman of the National Assembly's Committee for Science, Technology and Environment.

However, he said, they still find it hard to access capital and technologies to pursue their green strategies, apart from difficulties in market expansion, recycling, and implementing the circular economy model.

Savvy consumers, who are putting environment issues at the heart of their spending decisions, have offered a source of encouragement for enterprises to continue their green production.

Hồ Tùng Bách, Deputy Director of the Consumer Protection Department under the National Competition Commission at the Ministry of Industry and Trade, cited a latest report showing that revenue from green products has grown about 15 per cent annually over the past time, showing the heightened awareness and actions of consumers.

According to the ministry, the demand for green goods in Việt Nam expanded by 15 per cent each year during the 2021-23 period, and up to 72 per cent of Vietnamese consumers are willing to pay more for such products.

Bach stressed that the Government has issued various policies and measures stipulating the role of businesses in sustainable production and consumption, while giving them information and financial support.

The official also pointed out challenges to green production and consumption, including huge resources which push up product prices, the prevalence of fake advertisements that hurt consumer confidence, and the fierce competition with imported products.

Against the back drop, on-the-spot materials and seasonal production models are among the advantages of Vietnamese firms, he said. — VNS