On May 9, 2025, in Da Nang City, the Banking Times, in coordination with the State Bank of Vietnam (SBV) Regional Branch No. 9 and other relevant entities, organized a Forum with the theme of: "Connecting green credit - Green industrial parks".
Deputy Governor Dao Minh Tu speaks at the Forum
Speaking at the Forum, First Deputy Governor Dao Minh Tu shared that, connecting green credit - green industrial parks is an important topic in the context of transitioning to a green economy and sustainable development. This is a "hot" issue that attracts many people’s attention.
In particular, promoting the development of industrial parks in a green and sustainable manner, realizing a circular economy in production, and developing eco industrial parks are important solutions, contributing to improving the resource efficiency, addressing climate change, and realizing Vietnam's commitment to achieving net zero emissions by 2050.
However, according to the Deputy Governor, it is difficult for businesses to demonstrate the 'green' nature of their investment projects when seeking green credit from banks because there is not yet a national green taxonomy. In addition, the credit institutions do not yet have a technical basis to identify or appraise green projects, as well as to effectively manage green credit disbursements.
Having acknowledged the role of the banking sector in promoting the sustainable development goals in Vietnam, First Deputy Governor Dao Minh Tu stated that over the past time, the SBV has implemented synchronous solutions to direct the credit flows toward green, environmentally friendly sectors, and low-carbon industries.
An overview of the Forum
Having followed the directions of the SBV, the credit institutions have implemented relatively comprehensive green credit operations, focusing on: researching and developing green credit products for each industry/sector; diversifying input capital sources through issuing green bonds, enhancing cooperation with the international financial institutions; 100% of the credit institutions have developed internal regulations on environmental risk management in credit granting activities. Some banks have pioneered in researching and updating new standards on green credit, environmental and social risks, climate risks, gradually approaching the international standards.
By March 31, 2025, 58 credit institutions had generated green credit balances with the credit outstanding reaching over VND 704,244 billion, an increase of 3.57% as compared to the end of 2024, accounting for 4.3% of the total credit outstanding of the whole economy; of which, the credit outstanding for green industry and green construction projects reached about VND 25,000 billion, accounting for about 3.7% of the total green credit outstanding.
The SBV Deputy Governor affirmed that the banking sector would continue to support the green transformation process of businesses, demonstrating the responsibility of the banking sector in the country's green growth process. To promote green credit activities, the SBV would continue to implement the solutions in the banking sector’s Action Plan to implement the National Green Growth Strategy, and the Scheme on Green Banking Development.
The SBV would prioritize a number of key solutions, including: continuing to improve the legal frameworks for the credit operations, including green credit, in order to create favorable conditions for businesses and people to access capital resources; providing guidance for the credit institutions’ implementation after the Prime Minister has issued the green taxonomy; directing the credit institutions to promote their resource mobilization; focusing and prioritizing a reasonable allocation of capital, gradually increasing the proportion of credit capital for green projects,…
However, according to First Deputy Governor Dao Minh Tu, in order to support the strong development of green credit, especially in the development of green industrial parks, in addition to the efforts of the banking sector, it is necessary to maintain the close cooperation and strong involvement of all relevant stakeholders.
In addition, it is necessary to implement communication and outreach activities to businesses to raise their awareness of green transition, building sustainable businesses; promoting the digital transformation in the environmental governance and capital flow management.
DL