Bắc Ninh
Vietnam’s carbon market development project approved
The Prime Minister has issued Decision No 232/QD-TTg to approve a project on the establishment and development of Vietnam’s carbon market.
The project’s primary goal is to establish a carbon market in Vietnam to help meet greenhouse gas (GHG) emission reduction targets set in the Nationally Determined Contributions (NDC), while minimising costs for businesses and society.
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Vietnam will develop carbon market to meet greenhouse gas (GHG) emission reduction targets. |
The initiative aims to create new financial flows for GHG reduction efforts, support the transition to green technologies, and enhance the competitiveness of Vietnamese businesses in both domestic and international markets.
The project is also designed to accelerate the development of a low-carbon economy and address climate change, working toward the goal of achieving net-zero emissions by 2050.
By June 2025, the project targets to complete the legal framework for the exchange of GHG emission quotas and carbon credits, including development of mechanisms for carbon credit trading and offsetting, and establish necessary infrastructure for carbon market operations.
Additionally, the project aims to boost the management capacity of relevant Government agencies and raise awareness among businesses, organisations and individuals about the carbon market.
The project introduces two primary market commodities: Greenhouse Gas Emission Quotas and Certified Carbon Credits, which will be tradable.
It also outlines a detailed roadmap for the carbon market, with a pilot phase running from 2025 to 2028 and the market officially launching nationwide in 2029.
Under this project, key tasks include developing the carbon market’s commodities, registering participants, creating a national registry and carbon trading platform, organising market operations, and enhancing awareness and capacity building.
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BAC GIANG - In recent years, Bac Giang has gradually emerged as a new industrial center in the Northern Midlands and Mountainous region. The province is expected to become a semiconductor industrial hub in near future thanks to many local advantages.
With enhanced investment and Government’s support, the semiconductor industry has a pivotal role to play in the growth of Vietnam’s industrial real estate, according to a Savills Vietnam expert.
The year 2025 holds special significance as it marks the final year of the 2021-2025 five-year socio-economic development plan. Following the directives of the Government and the Prime Minister, which aim to achieve a high GDP growth rate of 8% in 2025, the Ministry of Industry and Trade has proactively reviewed and raised growth targets in the industrial and trade sectors, setting specific key goals.
Minister of Planning and Investment Nguyen Chi Dung, who is also deputy head of the National Steering Committee for Semiconductor Industry Development, emphasised that the committee will continue to settle difficulties and bottlenecks to turn the semiconductor industry into a major driver of Vietnam’s growth in the new era.
BAC GIANG – In recent years, Bac Giang has consistently led the country in gross regional domestic product (GRDP) growth, enabling the province to significantly expand its economic size. It now ranks 12th out of 63 provinces and cities, rising four places since the beginning of the current term and surpassing the target set by the 19th Provincial Party Congress for 2025.
The digital technology industry (ICT) industry's GDP contribution is estimated at VND989.02 trillion (US$38.8 billion), a rise of 11.2% compared to the previous year.
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