The logistics sector, which has become an important service industry and played a role in supporting, connecting and promoting Vietnam’s socio-economic growth, is undergoing a rapid transformation as sustainability takes centre stage. With an estimated market size of 40-42 billion USD a year and over 40,000 firms operating in the sector, the stakes are high, and the need for change is urgent.
Minister of Foreign Affairs Bui Thanh Son has expressed Vietnam's readiness to collaborate closely with the EU in building an exemplary cooperation model for green transformation, aiming to support developing nations, including Vietnam, in bridging gaps in finance, technology and human resources training.
CT Group launched its ASEAN Carbon Credit Exchange Joint Stock Company (CCTPA) on September 29, becoming the first Vietnamese enterprise to kick off a voluntary carbon emissions exchange in an attempt to respond to trade policies on international environment, and to develop a low-carbon emission economy.
As the European Union (EU)’s Carbon Border Adjustment Mechanism (CBAM) will enter into application in its transitional phase from October 1, 2023, Vietnamese businesses are forced to join in the “green race” in the context that Vietnam is the union's largest trading partner in the Association of Southeast Asian Nations (ASEAN).
The EU-Vietnam Free Trade Agreement (EVFTA) has created new opportunities for Vietnamese businesses, but they still need equip themselves with necessary skills to avoid losses and tap into this deal.
