Sustainable development in ASEAN: A comparative analysis of Vietnam and regional peers
Published: July 29, 2026
Abstract
Sustainable development has become a central focus in the growth strategies of most ASEAN member countries. This study analyzes and compares the implementation of sustainable development goals (SDGs) in Vietnam with selected countries in the region, focusing on three key pillars: environment, society, and governance. The findings reveal that Vietnam has made notable progress in integrating economic growth with environmental protection and social advancement. However, when compared to more developed ASEAN nations such as Singapore and Malaysia, Vietnam still faces challenges in advancing its ESG framework. Based on these insights, the study offers policy recommendations to strengthen the effectiveness of Vietnam’s sustainable development initiatives in the coming period.
Keywords
sustainable developmentESGASEANVietnam.
References
1.
ASEAN Centre for Sustainable Development Studies. (2022). ASEAN sustainable development report 2022. Bangkok: ASEAN Secretariat.
2.
Bebbington, J., & Unerman, J. (2018). Achieving the United Nations Sustainable Development Goals: An enabling role for accounting research. Accounting, Auditing & Accountability Journal, 31(1), 2-24.
3.
Eccles, R. G., Ioannou, I., & Serafeim, G. (2020). The impact of corporate sustainability on organizational processes and performance. Management Science, 60(11), 2835-2857.
4.
Elkington, J. (1997). Cannibals with forks: The triple bottom line of 21st century business. Capstone Publishing.
5.
Friede, G., Busch, T., & Bassen, A. (2015). ESG and financial performance: Aggregated evidence from more than 2000 empirical studies. Journal of Sustainable Finance & Investment, 5(4), 210-233.
6.
Liew, C. Y., Lee, H. S., & Ong, T. S. (2022). ESG disclosure and firm performance in ASEAN countries: A comparative analysis. Journal of Asian Finance, Economics and Business, 9(4), 123-134.
7.
Nguyen, T. T., & Tran, M. H. (2023). Sustainable banking and ESG practices in ASEAN: Evidence from emerging economies. International Journal of Economics and Management, 17(2), 145-160.
8.
UN Global Compact. (2004). Who cares wins: Connecting financial markets to a changing world. United Nations.
9.
World Bank. (2024). ASEAN green finance and sustainability report. Washington, DC: The World Bank.