Economic development with environmental protection and company sustainability

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Abstract

This study addresses the critical issue of balancing economic growth with environmental protection in Vietnam, where rapid industrial development has led to increasing ecological challenges (World Bank, 2024a). The research aims to identify the key factors influencing the integration of environmental considerations into the economic activities of Vietnamese enterprises (Hoang et al., 2019). Using a mixed-methods approach, including both qualitative analysis and quantitative data collected from a survey of local businesses, the study examines how economic and environmental priorities are managed in practice. The findings reveal that while awareness of environmental issues is rising, many enterprises still face significant barriers, such as limited resources, lack of regulatory enforcement, and insufficient managerial commitment, to adopting sustainable practices. The study concludes that without stronger institutional support and targeted policy interventions, environmental sustainability will remain a secondary concern. Based on these insights, the paper proposes a set of practical recommendations to support enterprises in aligning their growth strategies with environmental goals. This research contributes valuable evidence to the discourse on sustainable development and offers actionable guidance for policymakers, business leaders, and researchers working to advance Vietnam’s green transition by 2030 (Organisation for Economic Co-operation and Development [OECD], 2023a).

Keywords: Economic Development, Environmental Issues, Environmental Protection, Vietnamese Enterprises

Authors’ individual contribution: Conceptualization — T.H.D., T.H.H., T.M.P.L., and T.C.N.; Methodology — T.H.D., T.H.H., and T.C.N.; Software — T.H.H.; Validation — T.H.D. and T.H.H.; Formal Analysis — T.C.N.; Investigation — T.H.D., T.H.H., T.M.P.L., and T.C.N.; Resources — T.H.H.; Data Curation — T.H.H.; Writing — Original Draft — T.H.H.; Writing — Review & Editing — T.H.D., T.H.H., T.M.P.L., and T.C.N.; Visualization — T.H.H.; Supervision — T.H.H.; Project Administration — T.H.H. and T.M.P.L.; Funding Acquisition — T.H.H.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: D2, D9, Q5

Received: 05.03.2025
Revised: 22.04.2025; 10.06.2025; 29.11.2025
Accepted: 12.12.2025
Published online: 16.12.2025

How to cite this paper: Dam, T. H., Hoang, T. H., Le, T. M. P., & Ngo, T. C. (2025). Economic development with environmental protection and company sustainability. Corporate Governance and Sustainability Review, 9(4), 172–183. https://doi.org/10.22495/cgsrv9i4p15