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The EU Parliament has recently passed three laws to that will also impact Vietnamese export-oriented companies

Due diligence is the process companies should carry out to identify, prevent, mitigate, and account for these impacts in their operations, their supply chain, and other business relationships.

The meeting had the participation of Ms. Tran Thi Hong Lien – Deputy Director of BEA, VCCI, representative of German Cooperation Organization (GIZ), Sustainable Links consulting company – the Federal Republic of German, and nearly 30 representatives in management, administration, human resource of electronic enterprises in Bac Ninh province.

The meeting has the participation of Ms. Tran Thi Hong Lien, Deputy Director of the BEA, Mr. Nguyen Hoai Nam - Deputy Secretary General of VASEP, about 50 representatives, including 50 delegates from Seafood enterprises (directors, managers from HR, CSR, compliance, OSH, etc.)

2023 marks the "new normal" of the economy and post-pandemic growth pressures have accelerated progress in strengthening business operations and optimizing the resources of businesses globally. Besides the challenges from world economic instability, the trend of shifting the manufacturing market from China to Vietnam also promises to contribute to creating investment and cooperation opportunities for companies in the field of industry and supporting industries to catch up with market trends.

Vietnam proves its position as a fast-growing manufacturing hub and an important link in the supply chain because of its great openness by participating in 17 bilateral and regional FTAs, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the EU-Vietnam Free Trade Agreement (EVFTA), and the Regional Comprehensive Economic Partnership (RCEP). The commitments in these FTAs put higher compliance requirements on businesses to ensure sustainable labour, social and environmental conditions. The Covid-19 outbreak also revealed the urgent need for business continuity readiness and resilience to overcome difficulties and recover the disruption of the supply chain. There has been another push by regulations around corporate sustainability due diligence, namely German Act on Corporate Due Diligence Obligations in the Supply Chains (LkSG) as of January 1, 2023 and upcoming Directive of European Union on Corporate Sustainability Due Diligence. Such legislation requires companies to assess and mitigate risks of violation of labour and environmental standards throughout their supply chains.

Within the framework of activities for the Electronics Business Coalition to promote social responsibility in labour, the Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with The International Labor Organization (ILO) held Seminar on due diligence in the supply chain and guiding on wages policy in electronic businesses on June 6, 2023 in Hanoi.

The Vietnam Chamber of Commerce and Industry (VCCI) in collaboration with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), with the support of the German Government, organized TOT on Capacity Development on HREED for the Responsible Business Helpdesk Viet Nam (RBH) and beyond in Hanoi from April 18 to 19, 2023.