Digital economy, circular economy and green growth have been opted by many countries, meaning businesses should be prepared for new trends to raise their competitiveness and boost sustainable exports.

The slow economic recovery globally has exerted strong impacts on many key exports of Vietnam last year. Therefore, meeting the high standards of markets and customers on green, sustainable development is the prerequisite to increase values and maintain the position of exports in the context of the increasingly fierce competition.

Over the past years, such big markets as the US and the EU have faced great inflation pressure, causing their consumers to tighten their purse string, thus resulting in the reduction of imports of non-essential consumer goods.

The Vietnam Trade Promotion Agency under the Ministry of Industry and Trade, suggested relevant ministries and agencies supplement and consolidate the legal framework, and set out standards and regulations on green transition for each sector in order to help enterprises optimise market opportunities and satisfy higher standards of importers.

VNA