Issues of Equity and Efficiency in Twin Transition in Vietnam from an Economic-Legal Integrated Perspective

In the context of globalization and the fourth industrial revolution, the twin transition (digital transformation and green transformation) is becoming a key strategic direction for nations, including Vietnam, to promote fast and sustainable growth of the economy. However, alongside the promoted economic benefits, the twin transition process also gives rise to certain issues of fairness, affecting the sustainability of the transition model. This raises doubts about the role of the twin transition, posing a need to refine the legal framework to harmonize the goals of economic growth and social equity. This paper reinforces the view on the inevitability of the twin transition, defining the twin transition as two parallel processes, with a synergistic and contradictory relationship between digital transformation and green transformation, that contribute to promoting sustainable development. Based on the analysis of the theoretical framework and the current situation of the aforementioned digital transformation process in Vietnam, the paper proposes solutions to ensure the harmonization of fairness and efficiency in this process. Specifically, the solution involves simultaneously combining digital transformation policies with social security and sustainable development policies, tailored to regions and industries, consistent with the current practical context in Vietnam.