Supporting SMEs to promote green economic development

Green growth is an essential aspect of sustainable development, involving a close, rational, and harmonious integration of economic and social development with environmental protection. It aims at meeting human needs, creating new growth drivers, fostering high competitiveness transition toward a green, carbon-neutral economy while contributing to the goal of limiting global temperature rise.

Binh Duong has implemented the National Green Growth Strategy for the 2021-2030 period, with a vision to 2050 and the National Action Plan on Green Growth for the 2021-2030 period. This includes specific measures such as reducing greenhouse gas emissions, greening economic sectors, promoting sustainable lifestyles and encouraging green consumption. On August 4, 2023, Binh Duong provincial People's Committee issued the Action Plan No. 3961/KH-UBND on green growth for the 2023-2030 period, with 18 main topics.

Automation of industrial production at ADL Paperpackaging Co., Ltd.

To effectively implement sustainable green economic development and support small and medium enterprises (SMEs) in the province, several activities such as conferences, workshops and policy forums have been organized. These events provide opportunities to exchange experience, listen to the difficulties of businesses, thereby further specifying policy actions and support measures to promote Vietnam's green economic transition. This contributes to accelerating the economic growth of Vietnam in general and of Binh Duong  in particular. Supporting SMEs to stimulate the economy is a key part of the Government’s planned green growth strategy.

A forum on financial support for SMEs held on July 23, 2024

The support for SMEs is provided under the Article 20 of the Law on Supporting SMEs through the Enterprise Development Fund managed by the Ministry of Planning and Investment. In addition, SMEs can get access to capital from industrial promotion policies to develop rural industrial production and implement cleaner production in industry under the Decree 45/2012/NĐ-CP, dated May 21, 2012, on Industrial Promotion managed by the Ministry of Industry and Trade. There are also many policies to support SMEs in the province such as research, application of science and technology in industry and agriculture, agricultural promotion programs as well as several support funds that have enabled households, cooperatives and SMEs to grow to new heights.

Since the birth of the industrial promotion policy, provincial Department of Industry and Trade has supported over 88 organizations and individuals in applying machinery and equipment in industrial production, promoting products and certifying exemplary rural agricultural products.

These efforts have contributed to technological innovation in production, reducing greenhouse gas emissions towards a carbon-neutral economy in the long term; improved the quality of people’s life by helping minimize people's vulnerability to climate change, encouraging responsible lifestyles within the community and society, guiding future generations toward green living culture, forming up a civilized and modern society that is in harmony with nature and the environment, supporting Binh Duong's goal of green economic development with carbon neutrality and contributing to the global effort of limiting the global temperature rise.

Reported by Thanh Tam-Industrial Management Department-Translated by Kim Tin