Innovating business models for the green economy in Viet Nam

DUONG NGUYEN THANH THUY

Faculty of Economics, Thuongmai University

Email: [email protected]

NGUYEN MINH QUANG

Faculty of Economics, Thuongmai University

Abstract

Transitioning to a green economic model is an inevitable trend to ensure sustainable growth linked with environmental protection. In Viet Nam, international commitments such as achieving “net-zero” emissions by 2050 and the promulgation of the Green Growth Strategy and the Law on Environmental Protection have demonstrated a strong determination in this transition. In this context, business model innovation plays a crucial role in helping enterprises adapt to green development requirements through efficient resource utilization and the creation of social value. However, this innovation process still faces numerous difficulties due to limitations in capacity, technology, finance, and an unsynchronized policy environment, especially for small and medium-sized enterprises. While international studies emphasize the strategic role of business model innovation in the context of climate change, Viet Nam still lacks specific research and policy assessments to support business model innovation. This paper uses a policy analysis approach to clarify the role of business model innovation in green economic development and proposes policy recommendations for the coming period.

Keywords: Business model, green economy, sustainable development

(This article was published in the Vietnam Economic&Financial Review, Vol 1, Issue 1, October 2025)

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