This is one of the main topics discussed at the Horasis Asia Meeting 2024, which took place on November 19 in Dubai, UAE. National Assembly Deputy Nguyen Quang Huan, Chairman of the Board of Directors of Halcom Vietnam JSC, participated in the meeting as a co-chair and speaker.
The Horasis Asia Meeting is an important annual event that brings together leaders, senior executives, and Asian enterprises to discuss the region’s economic future. By choosing Dubai as the host city this year, the forum highlights Dubai’s increasingly significant role as an economic hub connecting Asia with the Middle East, Europe, and Africa, with a focus on innovation, supply chains, and sustainable business development.
With six large-scale discussion panels, experts focused on topics such as sustainable development, innovation, supply chain improvement, and digital transformation. The event also addressed Asia’s role in the global economy, particularly the growing influence of Gulf countries, thereby shaping the future of cooperation for Asia and global relations.
Mr. Nguyen Quang Huan – Chairman of the Board of Directors of Halcom Vietnam JSC (second from the right). Photo: Horasis
Participating in the discussion panel on Managing the Complexity of Change, National Assembly Deputy Nguyen Quang Huan – Chairman of the Board of Directors of Halcom Vietnam, shared insights on the role of sustainable development in business operations and the challenges businesses face amidst complex changes. In response to the question of whether Asian businesses should focus on business growth or place greater emphasis on sustainable development in the current context, Nguyen Quang Huan stated that this is a challenge faced by all developing countries.
“In my opinion, if we focus solely on growth speed while neglecting sustainability—namely environmental protection and social development—there will come a day when we have to pay the price for that oversight. For example, in Vietnam, as well as in other countries like China or Thailand, we see that environmental issues are becoming increasingly critical: pollution, waste management, and access to clean water will become pressing challenges. Once high growth begins, if environmental issues are not addressed, there will come a point when the economy can no longer develop,” Mr. Huan remarked.
Mr. Nguyen Quang Huan shares the business philosophy at Halcom and the importance of sustainable development in business. Photo: Horasis
With the prominent philosophy implemented at Halcom Vietnam – a company with over 23 years of establishment – “Profits should not be pursued by all means. Business is sustainable when all parties get benefits“, Mr. Nguyen Quang Huan emphasized the importance of sustainable development in business.
“If businesses focus solely on profit while neglecting social responsibility, customers may no longer want to purchase their products. Moreover, international partners, whether from developed countries or neighboring nations, would also be unwilling to collaborate with companies that prioritize only their own interests. So, how can a company grow without partnerships, or without support from the government and society? Sustainable development is essential. While it may be challenging in the short term, we must think about long-term benefits,” he said.
To ensure a balance between the two factors, Mr. Nguyen Quang Huan suggests that it is necessary to address the issue of accessing capital for businesses, especially small and medium-sized enterprises in developing countries. Businesses need support through microfinance mechanisms.
Experts agree that Asian businesses, regardless of size, are facing a period of rapid change. The global economic slowdown has altered trade among Asian countries, while the impact of artificial intelligence (AI) and digital transformation is becoming increasingly evident. Businesses are now faced with the challenge of restructuring their supply chains to meet the demands of innovation.
Mr. Nguyen Quang Huan’s sharing received a lot of attention from the speakers. Photo:Horasis
According to Mr. Nguyen Quang Huan, in the face of such rapid changes, countries, businesses, and communities need to connect and cooperate sustainably with each other to address these issues. Responding to a question about the potential for cooperation between Vietnam and Arab countries, he stated:
“Vietnam always desires to be friends with all countries and is open to business development. Many people say that Vietnam’s economy is growing strongly. I believe this is a great opportunity for countries, especially Arab nations, to come to Vietnam to invest and do business. As we grow rapidly, we need many things such as infrastructure, technology, capital, and management skills. I believe that partners can meet Vietnam’s needs and will also reap the benefits that Vietnam itself offers.”
The speakers attending the Horasis Asia Meeting 2024 in Dubai, UAE. Photo: Horasis
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The Horasis Asia Meeting is one of the most prestigious economic events in Asia, gathering many high-ranking government leaders, business executives, and financiers from the region and around the world. This annual event is hosted alternately in various countries such as Vietnam, Thailand, India, and Japan. Vietnam has hosted the forum five times in Binh Duong Province in the years 2018, 2019, 2022, 2023, and 2024. This year, the Horasis Forum provided a special opportunity for networking as part of the Global Transport Summit organized by DP World, held from November 18-20 in Dubai. The main topics included digital transformation and sustainability. The conference presented strategies to adapt to the rapidly changing transport landscape, with the participation of over 5,000 industry leaders from more than 155 countries.