STRATEGIES FOR ENHANCING THE COMPETITIVE ADVANTAGE OF VIETNAMESE STEEL EXPORT ENTERPRISES UNDER THE IMPACT OF THE CARBON BORDER ADJUSTMENT MECHANISM: THE ROLE OF DYNAMIC CAPABILITIES, TECHNOLOGICAL INNOVATION, GREEN INNOVATION AND INSTITUTIONAL FACTO

This study explores the implications of the Carbon Border Adjustment Mechanism (CBAM) for the competitive advantage of Vietnamese steel-exporting enterprises, emphasizing the mediating roles of technological and green innovation and the moderating influence of institutional factors. Using a qualitative research methodology, the study synthesizes secondary data from academic literature, industry reports, and policy documents related to CBAM implementation in the EU market. Furthermore, expert interviews with policymakers, industry specialists, and steel enterprise executives provide in-depth perspectives on the challenges and strategic responses to CBAM regulations. The findings reveal that while CBAM exerts immediate pressure on steel exporters, it catalyzes long-term technological advancements and green transformation, ultimately reinforcing firms’ competitive positioning. Investments in low-carbon production technologies and sustainable supply chain optimization emerge as critical enablers of compliance and strategic adaptation. Based on these insights, the study offers policy recommendations and practical strategies to enhance the global competitiveness of Vietnamese steel enterprises in the evolving regulatory landscape. Keywords: Carbon Border Adjustment Mechanism; competitive advantage; green innovation; institution; technological innovation