The Ministry of Industry and Trade of Vietnam has officially relaunched the 2026 Industry, Trade, and Services Awards. This strategic move coincides with the two-decade milestone of Vietnam's accession to the World Trade Organization (WTO), marking a paradigm shift in assessing corporate performance in the country.
ESG expert Pham Hoai Trung emphasized that these awards are not merely an appreciation ceremony, but a navigational tool to redirect national business standards. Amid tight global supply chains, business orientation is no longer limited strictly to financial aspects like profits or market share. Digital transformation, innovation, and social responsibility are now equally important pillars in determining a company's sustainability.
A crucial point in this policy is the allocation of 20 specific points for the "Sustainable Development and Social Responsibility" criteria, which includes the implementation of Environmental, Social, and Governance (ESG). This integration sends a clear message that ESG is not just a public relations stunt or a supplementary element, but a fundamental component of business competitiveness in an increasingly environmentally conscious international market.
To ensure objectivity, ESG assessments will not be based on subjective slogans, but on quantified data. The evaluation will cover environmental aspects such as emission intensity and energy efficiency; social aspects related to employee welfare; and governance aspects demanding transparency and accountability. This approach will be differentiated based on industry characteristics to guarantee fairness for both manufacturing companies and the service sector.
This initiative is expected to create a positive domino effect for the Vietnamese business community. With clear benchmarks, business operators will be encouraged to undertake tangible green transformations. Businesses capable of proving their ESG compliance with empirical evidence will hold a stronger bargaining position before investors, global partners, and consumers who are increasingly selective about the carbon footprint of the products they use.
