“Fostering the Growth of the Social Impact Business Sector in Vietnam” – the largest study on the social impact business (SIB) sector in Viet Nam today, through hundreds of votes in the survey, multi-stakeholder consultative workshops and interviews dozens of SIB represent in 4% of the total number of active enterprises in Vietnam.
SIBs are understood as “organisations that have both trading activities and a commitment to positively impacting society/environment as the two central tenets of their strategic operations. This balancing of their social/environmental aims with a commercial model allows them to sustainably solve social and environmental challenges.”.
The study provides an overview of the ecosystem, and the current state of the SIBs sector in Vietnam along with challenges and opportunities; from which to draw 7 key findings the proposed base is the sum of 12 recommendations geared to promote multilateral cooperation and overcome the challenges above, at the same time help enterprises can contribute to achieving the SDG.
1. Viet Nam has a vibrant and rapidly growing ecosystem for SIBs
2. Viet Nam has adopted several laws and policies supporting the SIB sector. These need to be complemented with activities to drive implementation
3. Jobs, wellbeing and environmental protection make up the top three areas of impact for SIBs
4. SIBs are leaders in promoting diversity and inclusion
5. Balancing profit with impact is a sustainable business model
6. Majority of SIBs seek to evenly balance social and economic objectives, but few use external social impact measurement tools
7. SIBs identify key challenges that prevent the growth of the sector but remain optimistic for the future
1516 with the role of a social impact business operation, has a wider understanding of the SIBs sector through the report, to map and understand the huge potential of the sector from across a varied spectrum of organisations and models, all connected by their mission to solve social or environmental issues or the environment, thereby achieving the goal of sustainable development.