"Green consumption" opens up opportunities for sustainable development

The trend of sustainable consumption in Vietnam has grown in recent years. Nielsen IQ's 2023 survey found that 49% of consumers bring their own bags or use recycled bags, 47% buy only necessary items thereby avoiding waste, 45% of consumers consciously separate recyclables and save electricity.

The study also shows the expectations of consumers and businesses about practical initiatives and actions to improve the environment. A product with an environmentally friendly production or packaging process is often more competitive. According to a recent report by BigC supermarket, 31% of customers are willing to pay more for products that support environmental protection.

Le Manh Phong, Managing Director of Hanoi Go/BigC system in the north, said:  "We are aware of the changes in customers’ attitudes. Environmentally friendly products bring competitiveness to businesses. Sales of eco-friendly products have increased, which is a good sign. To accelerate this process, we expect the synchronization between state policies and actions of businesses and consumers, which will help us promote sustainable production and consumption."

To promote sustainable production and consumption, the Ministry of Industry and Trade has submitted to the Prime Minister a National Action Program on Sustainable Production and Consumption for the 2021-2030 period. The revised Law on Protection of Consumer Rights passed by the National Assembly in June has added regulations and policies on promoting sustainable production and consumption.

Nguyen Quynh Anh, Vice Chairwoman of the National Competition Commission, Ministry of Industry and Trade, said: "We greatly appreciate the awareness of consumers towards sustainable consumption. The revised Law on Consumer Protection, which has recently been passed by the National Assembly, includes the concepts of sustainable consumption and production. It's the trend of the times. To realize and promote this process requires the responsibility not only of state management agencies but also of businesses and consumers.”

With the economy  growing, people's living standards are increasingly improved and so is the demand for good quality and safe products and services. Promoting green consumption is the driving force for businesses to quickly shift to sustainable production, catching up with market demand and the "green consumption" trend.