CSR in Developing Countries: Case Study in Vietnam

Abstract

This article provides a review of the practice of corporate social responsibility (CSR) in Vietnamese enterprises, especially in Vietnamese small and medium enterprises (SMES). To do so, this article first reviewed the conceptual framework of CSR and CSR in developing countries. In addition to enhancing the competitiveness of Vietnamese enterprises in general, Vietnamese SMEs in particular, this study highlights the lessons learned from CSR empirical studies in developing countries. Furthermore, based on the analysis of Vietnamese enterprises and CSR practices in Vietnam, the article collates the recommendations given by researchers to strengthen and improve the implementation of CSR in Vietnam as well as provide some suggestions to help Vietnamese enterprises get success in applying CSR in their sustainable business objectives. This article concludes the implementation of CSR in Vietnam is still limited, and there are many obstacles and limitations in applying CSR not only from the business itself but also from the operating environment. Therefore, to implement and integrate CSR into Vietnamese enterprises’ business strategies, CSR awareness should be improved as well as the legal framework for implementing CSR.