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COVER STORY

SO IDEAS CAN GROW
SO IDEAS CAN GROW

Green startups may be poised for growth from the green economy being strongly
promoted in Vietnam but additional support must come their way.
PHUONG HOA Reports

he 25th Annual Global CEO Survey figures, foreign capital flows into green and maximize the reduction of fine dust
from PricewaterhouseCoopers startups in Vietnam are increasing rapidly, and heavy metals in the environment. “The
T (PwC), conducted earlier this year, including new foreign investors appearing phrase ‘green economy’ is now mentioned
revealed that over 75 per cent of global in Vietnam for the first time. more frequently, and I think that in addition
investors are considering the potential and to green economic development we must
deciding on whether to invest in businesses GOING GREEN pay more and more attention to people’s
that are focused on Environmental, Social, With a vision of replacing gasoline- happiness, social justice, and environmental
Governance (ESG) standards. Green startups powered motorbikes with electric bikes in protection,” said Ms. Nguyen Thi Thu Hang,
in Vietnam or enterprises using green, envi- Vietnam and encouraging a sustainable Co-Founder and CEO of Wiibike. “We
ronmentally-friendly technologies or devel- lifestyle towards developing a green econ- should not only pay attention to green pro-
oping business activities in the field of the omy, green traffic startup Wiibike has set a duction and green consumption but also
green economy are now being prioritized goal of taking 2 million of the former off green lifestyles to promote a green economy.”
for investment by global investors. According the streets and having its 100-per-cent zero- Lifestyles have indeed changed a great
to Ms. Nguyen Phuong Linh, Executive emissions bikes found in key areas of Viet- deal in Vietnam, with more people becom-
Director of the Management and Sustainable nam by 2030. Its vision specifically covers ing interested in products that are eco-
Development Institute (MSD) - United the country being able to cut 611,000 tons nomical and friendly on the environment,
Way Vietnam, though there are no official of CO2, NO2, and CH4 emissions a year which offers major motivation to green

12 | VIETNAM ECONOMIC TIMES | MAY 2022 www.en.vneconomy.vn