Vietnam Launches "Dual Transformation Journey" for SMEs in Ho Chi Minh City

A "Dual Transformation Journey" program aimed at supporting the sustainable growth of small and medium-sized enterprises (SMEs) has been launched in Ho Chi Minh City, Vietnam. This initiative is jointly organized by the Private Economic and Cooperative Development Department under the Ministry of Industry and Trade and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ). Its objective is to introduce a roadmap, support mechanisms, and opportunities for businesses to connect with experts within the ecosystem, focusing on the dual transformation of digitalization and green transition. In recent years, the Vietnamese economy has achieved remarkable growth. However, SMEs, which are crucial to this growth, face challenges in enhancing their competitiveness within global value chains and transitioning to sustainable business models. In particular, leveraging digital technologies for operational efficiency and promoting green practices to reduce environmental impact are essential for survival and development in the international market. This program aims to address these challenges by facilitating a concrete transformation process, outlining available support systems, and fostering connections with expert networks. Through this, SMEs are expected to innovate their business models and seize new growth opportunities. The Vietnamese government considers SMEs as vital contributors to economic growth and seeks to upgrade its domestic industries and improve international competitiveness through such support measures. The "dual transformation" of SMEs is expected to be a key factor in elevating Vietnam's presence in global value chains.