Page 208 - Ebook HTKH 2024

campaigns to educate businesses about the advantages of integrating digital and green
strategies. These campaigns could include case studies, success stories, and data that

demonstrate the positive impact of dual transformation on business performance
(Nguyen & Nguyen, 2021). Industry-wide collaboration and knowledge sharing can
help businesses overcome common challenges in implementing dual transformation.
The government should promote the creation of industry forums, associations, and
networks where businesses can exchange ideas, share best practices, and collaborate on
digital and green initiatives. These platforms can facilitate partnerships, joint ventures,
and collective action on sustainability and innovation (Kamble et al., 2019).
4.6. Creating incentives for circular economy models

One of the key opportunities for green transformation is the adoption of circular
economy models, where resources are reused, recycled, and reintegrated into the
production process. The government can promote circular economy practices by
offering financial incentives and regulatory support for businesses that implement waste
reduction, material recycling, and resource efficiency initiatives (Geissdoerfer et al.,
2017). Businesses should be encouraged to adopt eco-design principles, which focus on

creating products that have minimal environmental impact throughout their lifecycle.
The government can provide incentives for businesses that invest in sustainable product
design and development, such as tax breaks for eco-friendly packaging and product
certifications (UNCTAD, 2021).
5. Conclusion
Digital transformation and green transformation are no longer optional strategies
for Vietnamese enterprises but essential components of sustainable growth. By

integrating digital technologies with environmentally conscious practices, Vietnamese
businesses can increase their competitiveness while contributing to the nation's
sustainability goals. However, the journey towards these dual transformations is fraught
with challenges, including infrastructure gaps, workforce skills shortages, and high
costs. Addressing these issues requires a concerted effort from government, industry
leaders, and educational institutions to create a supportive ecosystem for both digital and

green innovations.
The dual transformation of Vietnamese enterprises through the integration of
digital and green strategies is essential for ensuring long-term economic competitiveness
and environmental sustainability. By implementing the policy recommendations
outlined above - ranging from financial support for SMEs and infrastructure
development to human capital investment and industry collaboration - Vietnam can
accelerate the adoption of digital and green technologies. As a result, Vietnamese
enterprises will be better equipped to compete in the global market, reduce their

environmental impact, and contribute to the country’s sustainable development goals.

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