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enterprises or green startups to further many practical benefits, such as saving on
develop new technologies and products to maintenance and operating costs, but also We should not
meet these needs and contribute to green directly resolve the issue of carbon emissions only pay attention
economic development in the country. causing climate change and damaging to green production and
Despite the severe effect of Covid-19, sales ecosystem diversity globally.”
of Wiibike’s electric bikes increased 5.5- green consumption but
fold in 2021 compared to 2020 thanks to ISSUES TO ADDRESS also green lifestyles to
greater awareness among the population Green startups, however, still face a host promote a green economy.”
about improving not only their own health of obstacles on the road towards developing
but also the environment. “In addition to green growth. Transitioning to environmen- Ms. Nguyen Thi Thu Hang,
the company’s impressive sales, the thing tally-friendly vehicles has been recognized in Co-Founder and CEO of Wiibike
that makes me happy is that there are many government documents, but existing
more and more people riding bicycles in incentive policies relating to special consump-
Vietnam,” Ms. Hang said. The company tion taxes, import tariffs, and other support “The first lesson for Vietnamese startups is
has also established and sponsored the in intellectual property and science and tech- to go out into the world to see what others
WiiCare community project, which aims nology, etc., mainly focus on automobile man- have done and how they have resolved
to raise awareness about green transport ufacturing and assembly. Mr. Dat said that problems in green economic development,”
and sustainable lifestyles among Vietnamese few policies are specifically directed at the Mr. Tuan Anh said. “To be successful in
people, especially the younger generation. electric bike manufacturing industry, even this endeavor, businesses must have ‘Made-
Another Vietnamese green tech startup, though Vietnam’s two-wheeler vehicle market in-Vietnam’ technologies that are accepted
Hachi, works in the field of agriculture by is the fourth-largest in the world. “Electric and used around the world, because ideas
applying the Internet of Things (IoT) to bike manufacturers like us need support without products go nowhere.”
use energy more efficiently and economically. policies from the government, on import and In terms of investment attraction,
Applying green technology in agricultural export taxes, for example, when importing investors will be more persuaded by founders
production will be one of the major trends components or mechanisms, to encourage who are truly passionate and enthusiastic
to take hold in Vietnam. According to Mr. people to make the change,” he said. about tackling the problems found in the
Dang Xuan Truong, CEO of the Hachi Policies are also sought on developing green economy, the circular economy, and
Vietnam Hi-tech JSC, to operate agricultural ecosystems and infrastructure to create green energy. “In certain cases, even when
production in the best possible manner and favorable conditions for startups using the potential of a startup is still to be reached,
optimize crop productivity and control out- green technology. While Vietnam’s gas sta- the passion of the founders is enough to
put it is necessary to apply green technology tion network is quite developed, electric attract investors,” he explained. But he
from the production to traceability stages vehicle charging stations are few and far added that passion is not always everything,
and product consumption links. between and some distance behind the and founders must also possess sound
At the 26th UN Climate Change Con- development of the market and the resulting knowledge in their field and have credibility
ference of the Parties (COP26) in Glasgow needs. Mr. Dat said this is a problem that and the ability to ensure business efficiency
last November, Prime Minister Pham Minh not only electric vehicle manufacturers in their project. For startups in green and
Chinh announced a goal of Vietnam reaching need to resolve but also the government sustainable growth to succeed, support poli-
net-zero emissions by 2050, which provides and relevant ministries and sectors if the cies are vital. Vietnam needs to create a
a strong foundation for startups in the green transition from gasoline to electric is to healthy competitive environment for the
economic sector to develop their business happen sooner rather than later. private sector in the green economy, green
and introduce new green products that are Among the problems Wiibike is still facing, energy, and waste treatment. “There must
not only environmentally-friendly but also like many other startups, are shortages of be no discrimination between businesses
economical. Mr. Nguyen Francis Tuan Anh, capital, good human resources, and experience with relationships with the public sector
Strategic Partner Advisor with the National in operating a business, while the prices of and private enterprises,” he said.
Agency for Technology Entrepreneurship raw materials for production inputs continue According to Ms. Linh, the government
and Commercialization Development at the ever upwards. Ms. Hang said that in relation plays a key role in the green economy in
Ministry of Science and Technology (MoST), to output, the difficulties her company encoun- terms of developing policies to help startups,
said Vietnam is currently among the top 4 ters include having to compete with Chinese such as the legal framework, preferential
contributors of plastic waste in the ocean. bikes and counterfeit models flooding the policies, funding, and cutting administrative
“This means that there are many reasons market. “These force us, though, to constantly costs. as well as building international
for green startups to boost the green economy improve our knowledge, innovate, stay abreast exchange and cooperation programs and
as well as green growth,” he said. of new trends in technology, and improve creating favorable conditions for foreign
Of a similar mind, Mr. Nguyen Ba Canh our quality standards to survive,” she explained. investors to invest. “Green startups need
Son, CEO of Dat Bike, believes the devel- support from the outset in organizational
opment of a green economy is inevitable RISING PROSPECTS development strategy, to boost their aware-
as environmental problems and global Concepts surrounding green business ness, knowledge, and skills for long-term
warming become increasingly serious. Many and green startups in particular are not development,” she said. Green startups also
vehicle manufacturers are looking to electric. new in the US or Europe but are still nascent need to closely follow trends, identify appro-
There are currently some 60-70 million in Asia, including in Vietnam. Awareness priate strategies, and link with social organ-
gasoline-powered motorbikes in Vietnam, among individuals and organizations about izations working on sustainable development
producing 63 per cent of the country’s air climate change and other environmental so that they can develop to the fullest right
pollution. “Replacing gasoline-powered issues are growing globally, however, which from the beginning. “When a startup follows
motor cars and motorcycles with electric would suggest there is promise in eco- the right trends or creates a trend itself and
vehicles is a positive trend that we should friendly technologies and business models leads the way in the green economy, every-
not ignore,” he went on. “The use of electric that Asian startups in general and Vietnam’s one, including investors and the ecosystem,
vehicles would not only give consumers green startups in particular could access. will follow,” she believes. %

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