Dual transition strategy to drive sustainable socioeconomic development

According to Bui, dual transition will present many challenges, but it will also create new opportunities and momentum for businesses.

Truong Bui, partner, general director of Roland Berger Vietnam

“For large companies, digital transformation is more manageable due to dedicated budgets and clear corporate strategies. For small- and medium-sized enterprises (SMEs), the dual transition remains a challenge,” Bui remarked.

However, Bui advised SMEs not to view energy transition as an insurmountable task, but rather to leverage available resources within their value chain.

“In terms of digital transformation, companies should start by identifying current bottlenecks and finding solutions for the most basic issues. By adopting renewable energy and integrating digital tools, businesses can transform themselves,” he explained.

He added, “Clear vision and direction in digital transformation are essential for companies to capitalise on emerging opportunities.”

With this integrated dual approach, Vietnam can strengthen its position as a prime destination for high-quality foreign direct investment (FDI), signalling a strong commitment to sustainable, tech-driven economic growth.

This strategy will also allow Vietnam to elevate its place in the global value chain, further solidifying its competitive edge in the international market.

Bui noted that “the Vietnamese government is advancing renewable energy through the Direct Power Purchase Agreement, an important step towards a competitive electricity market. This allows manufacturers to select green energy providers, addressing the growing global demand for sustainability. Meanwhile, foreign-invested enterprises are embracing digitalisation, and incorporating advanced technologies like AI and automation to boost operational efficiency.”

“Leading foreign companies such as Samsung exemplify this dual transition, combining renewable energy sourcing with digital transformation efforts,” Bui continued. “These initiatives align with Vietnam’s economic goals, positioning the country as a top destination for foreign direct investment (FDI) that prioritises sustainability and innovation.”

When asked about recommendations to attract more FDI through the dual transition, Bui highlighted five key elements, including encouraging green investment, strengthening digital infrastructure, streamlining regulatory frameworks, promoting public-private partnerships (PPPs), and focusing on skill development

“Implementing policies and incentives foster FDI attraction in renewable energy and sustainable technology. Meanwhile, investing in robust digital infrastructure, including high-speed internet, cloud computing, and cybersecurity helps to support digital transformation initiatives. Additionally, when simplified and harmonised regulations take effect, foreign investors will adopt green and digital technologies more easily,” Bui suggested.

“And of course, it is non-negotiable when talking about promoting PPPs since they boost collaboration between government, local businesses, and multinational corporations to drive innovation and facilitate knowledge transfer. The final recommendation sticks with workforce capability, as only skilled workers can support the green and digital transition.”

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