Việt Nam has a great chance to achieve its green transformation objectives and establish its place in the world's green value chains at this pivotal juncture. The carbon credit market plays a vital role in helping enterprises and the country's economy shift from brown to green, lowering greenhouse gas emissions and boosting national GDP and company profits. At a seminar last week about developing the carbon market, Nguyễn Minh Vũ, Deputy Foreign Minister, affirmed that green transformation was a new driving force for sustainable growth and a key strategy for Việt Nam to establish its position in the global green value chain. They maintained that Việt Nam had enormous potential for creating a vibrant, effective, and high-quality carbon market. However, Việt Nam is facing many challenges in the carbon market construction and development process, such as a lack of legal framework, international cooperation, and limited awareness.

Source: Viet Nam News November 28, 2023 13:54 UTC