German Consul General in Ho Chi Minh City: Vietnam is a great place to invest!

The German Business Association in Vietnam (GBA) successfully hosted the GBA Business Awards 2024, recognizing outstanding businesses in various categories, including Green Economy, Innovation, Outstanding SME, CSR Achievement, and Young Innovation.

In his opening remarks, GBA Chairman Alexander Ziehe said, “Despite the challenges we face—economic uncertainties, global changes, and the need for constant adaptation—we have witnessed extraordinary efforts from large and small businesses alike. Your dedication to innovation, commitment to sustainability, and relentless drive towards excellence have set new standards and inspired us all.”

He expressed his delight at the strong support received from all the nominees and companies that participated in this year’s GBA Business Awards, with 32 companies competing in four categories: Green Business of the Year, Business Innovation, Outstanding SME, and CSR Achievement.

During the event, the German Consul General in Ho Chi Minh City, Dr. Josefine Wallat, emphasized, “This has been a challenging year. We all hoped for an easier business environment, a less turbulent world, and more consumer confidence. However, we are all here because we believe that Vietnam is a great place to invest, and we want to further develop the relationship between Germany and Vietnam.”

The GBA Business Awards brought together 32 nominees across four categories: Green Business of the Year, Innovative Business, Outstanding SME, and CSR Achievement. The top three nominees in the Green Business, Innovative Business, and Outstanding SME categories were also nominated for the EuroCham Business Awards, which will be held in October.

Here are the results of the GBA Business Awards 2024:

• Green Business of the Year: Nestlé was awarded this prestigious recognition for its outstanding efforts in sustainable water management across its supply chain, production activities, and community engagement. Through initiatives like the NESCAFÉ Plan and the LAWACO project, the company has significantly reduced water usage, improved water efficiency in its factories, and enhanced access to clean water and sanitation for local communities, earning recognition for its responsible water management.

• Innovation Award: Bosch Vietnam introduced a solution that utilizes paired digital technology and predictive maintenance to optimize industrial assets, increase productivity, and gain a competitive edge.

• Outstanding SME Award: PALLAS BrandFare received this award by closely collaborating with technology providers to fine-tune product launch and promotion strategies with limited resources. They introduced new customized solutions, such as StrategiX BrandFare and Digital BrandFare, and implemented modular training courses to help companies optimize their marketing and branding efforts in a cautious investment environment.

• CSR Achievement Award: Super Energy Corporation demonstrated significant success in Corporate Social Responsibility through initiatives like scholarships for underprivileged students, health insurance, water filtration projects, and festive season gift-giving. They are also committed to environmental sustainability projects that support climate change mitigation, coastal protection, biodiversity conservation, and community engagement.

In parallel, the GBA Young Innovation Award, inspired by the previously successful GBA Business Challenge, was developed by the association as a dedicated platform for promising Vietnamese students and young entrepreneurs.

This year, the GBA Young Innovation Award received 18 business plan submissions, each showcasing unique innovations. The top three teams were selected to present their ideas at the final event, with the winner determined through online voting by the audience present. Additionally, the top three teams of this Young Innovation Award will receive financial support from GBA’s CSR fund to turn their business ideas into reality.

Mr. Vi Thanh Tuan, a member of the GBA Executive Committee and in charge of the GBA Business Awards 2024, shared, “At GBA, we firmly believe that the association can create positive and lasting impacts through mentorship and encouragement of young talents. The Young Innovation Award reflects GBA’s efforts in initiating and supporting new start-ups. In the long run, this will help create more jobs, increase business revenue, and contribute to the overall development of Vietnam’s economy. Through this initiative, we aim to strengthen the connection between German business values and the Vietnamese entrepreneurial spirit, thereby opening up more business collaboration opportunities in the future.”

This year’s winner of the GBA Young Innovation Award was team COPEPODS from the University of Economics and the University of Technical Education – University of Danang, a group of young pioneers in building a sustainable future for the aquaculture industry. COPEPODS is a business idea focused on producing high-quality zooplankton products as food for juvenile fish, significantly increasing their survival and growth rates. Through their idea of implementing supportive activities for fish farmers and maintaining a healthy marine ecosystem, COPEPODS demonstrated excellent innovative thinking.

The first runner-up of the Young Innovation Award was team DeepVoucher from the University of Economics Ho Chi Minh City and the Ho Chi Minh City University of Technology, Vietnam National University, with a solution to transform the voucher ecosystem through an easy-to-use and highly secure voucher generation system. By applying blockchain technology, DeepVoucher reduces costs and enhances security for systems, offering a more efficient and reliable voucher solution.

The second runner-up was team V-Carbon from the University of Economics and the University of Technical Education – University of Danang, with a solution for an efficient carbon credit trading platform accompanied by modern software to accurately calculate and monitor carbon footprints. The V-Carbon management system allows for the optimization of the entire lifecycle of carbon credits.

The successful conclusion of the GBA Business Awards, even in its inaugural edition, marks an important milestone and the beginning of an annual event to honor outstanding organizations within the German business community in Vietnam.