On April 25, 2025, the State Bank of Vietnam (SBV), in collaboration with the Lao Dong (Labor) Newspaper, organized a Workshop themed “Unblocking Green Credit Flows” under the chairmanship of SBV First Deputy Governor Dao Minh Tu.
SBV First Deputy Governor Dao Minh Tu speaks at the Workshop
Speaking at the Workshop, Deputy Governor Dao Minh Tu affirmed that green credit and ESG implementation are inevitable trends for sustainable development, thereby asserting the position and enhancing the competitiveness of the credit institutions, as well as expanding their cooperation and business opportunities. In addition, green credit is a critical resource to help businesses to improve and innovate their technologies, and to transition to green production.
According to Ms. Ha Thu Giang, Director General of the SBV Department of Credit for the Economic Sectors, the SBV has implemented timely measures to promote the development of green credit. Specifically, the SBV has managed the credit policies appropriately to meet the economy's credit demands, supporting the economic growth, directing credit into the priority sectors and the key growth drivers in line with the Government's policy, including the support for transitioning the economy to a green growth model.
Secondly, the SBV has developped the Banking Sector’s Action Plan to implement the National Green Growth Strategy for the 2021-2030 period (Decision No. 1408/QD-NHNN dated July 26, 2023 of the SBV Governor) with 7 groups of tasks and solutions covering all activities of the banking sector.
Thirdly, the SBV has reviewed, revised and improved the legal frameworks for the credit granting operations by the credit institutions in order to ensure the consistency, harmonization and suitability to the trend of green growth and sustainable development.
Fourthly, the SBV has been strengthening its leadership and guidance for the active implementation of the credit programs for the poor and the vulnerable people.
An overview of the Workshop
“Based on these policy frameworks, the credit institutions have taken strong and proactive steps, implementing various solutions to promote green credit, and have achieved many positive results in terms of awareness raising; the number of credit institutions financing green sectors and projects, and the scale and the growth rate of the green credit outstanding keeps increasing significantly”, Deputy Governor Dao Minh Tu shared.
However, according to Deputy Governor Dao Minh Tu, the banks and businesses are still facing many difficulties, including the absence of a national green taxonomy, the common regulations on ESG for the businesses’ implementation in order to meet the increasingly strict requirements for sustainable development; limited risk assessment tools; long return on investment (ROI) time; unclear financial performances; etc.
In addition, it is necessary to improve and synchronize the investment mechanisms and policies to create an enabling investment environment; develop a roadmap for implementing synchronized support policies for green projects across various sectors and areas to attract and effectively utilize green credit resources. Furthermore, it is also critical to develop and implement solutions to help the credit institutions to access and mobilize financial resources from the international financial institutions, international funds and private investors, enabling the credit institutions to provide more long-term loans with preferential interest rates for green sectors and areas. In particular, the national green taxonomy must be issued at the earliest possibility.
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