Strategic shifts in sustainable development: Insights from TCP’s more than 32 years in Vietnam

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A high-level working session was held on October 23 between the leadership of the TCP Group and the Central Commission for Policy and Strategy (CCPS), where ...

Amid global economic volatility, sustainable development is no longer a peripheral corporate social responsibility choice; it has evolved into a core capability shaping business resilience and long-term competitiveness. The more than three-decade journey of the TCP Group in Vietnam offers practical insights into how a multinational enterprise aligns closely with the strategic priorities of its host nation.

Vietnam’s National Green Growth Strategy for the 2021-2030 period, with a vision toward 2050, emphasizes that green growth is essential to economic restructuring, enhancing national competitiveness, and strengthening resilience against external shocks. This transformation marks a new era where economic efficiency must advance hand-in-hand with environmental sustainability and social equity.

This strategic orientation was the central theme of a high-level meeting held in Hanoi on the afternoon of October 23, between Mr. Saravoot Yoovidhya, CEO of the TCP Group, and Mr. Nguyen Van Phuong, Member of the Central Committee of the Communist Party of Vietnam and Deputy Head of the Central Commission for Policy and Strategy (CCPS). Taking place in a milestone year marking 50 years of Vietnam-Thailand diplomatic relations and more than three decades of TCP’s product presence in Vietnam, the dialogue provided comprehensive perspectives on the role of FDI enterprises in Vietnam’s new stage of growth.

The enduring prosperity of an international enterprise is inextricably linked to the intrinsic strength of its host market. With Vietnam and Thailand elevating bilateral ties to a Comprehensive Strategic Partnership, the “Three Connects” strategy - connecting supply chains, local economies, and sustainable growth strategies - has become a guiding compass for substantive cooperation between the two business communities, driving toward the shared goal of $25 billion in balanced bilateral trade.

Practical takeaways from this policy dialogue and TCP’s development journey illuminate…

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