what if all apparel and footwear industry stakeholders who are operating in Vietnam could devise an open platform aimed at shaping a more sustainable sector, and turn the sector’s race to the bottom of pricing and manufacturing standards, into a race to the top?Read more
The private sector players involved in Race to the Top make a strong case for sustainability. Their approaches to business prove that better working conditions and resource-conscious manufacturing make businesses more profitable, and outsmart traditional ways of doing business. Their approaches prove there are significant returns to be reaped by those advancing toward sustainable manufacturing practices. Showcasing the benefits of sustainability, Race to the Top will unlock country-wide sustainable manufacturing practices.
Race to the Top created a public-private dialogue and is working towards a level playing field for sustainable business. The approach fostered by Race to the Top will enable buyers to offer their suppliers sustainable improvement services and investments that are genuinely attractive for them. Race to the Top will help buyers reward their best-performing suppliers and with additional incentives that help them grow their businesses. Race to the Top is set to develop more support mechanisms and incentives that will drive systemic change and have long-term positive impact on Vietnam’s apparel and footwear industry.
During several meetings that followed the Global Green Growth Forum summit, a number of improvement areas have been identified by our stakeholders. Informed by these improvement areas, the members will pursue solutions in different but complimentary areas of improvement. Solutions found and proven by Race to the Top’s pilot projects will feed back into the Public-Private Platform. This strategy ensures solutions are sustained and fed into policy dialogues. In the long term, the entire sector will benefit from the solutions identified and proven by Race to the Top.
When the vision behind Race to the Top has been proofed in Vietnam, its best-working components can be replicated in other countries with quickly emerging apparel and footwear sectors.