Vietnam Issues Prime Ministerial Decision on Establishing and Developing a Domestic Carbon Market

On January 24, 2025, Vietnam’s Deputy Prime Minister Tran Hong Ha issued Prime Minister Decision No. 232/QD-TTg on a Plan for the Establishment and Development of a Carbon Market in Vietnam. The primary objectives of this plan are to develop Vietnam’s carbon market, achieve greenhouse gas (GHG) emission reductions at optimal costs in line with Vietnam’s Nationally Determined Contributions (NDC), secure financial resources for emission reductions, and promote green transformation and low-emission technologies. Additionally, the plan aims to enhance corporate competitiveness, foster a low-carbon economy, and achieve net-zero emissions by 2050.