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On April 17 in Hanoi, the Ministry of Finance, KOICA, and the Global Green Growth Institute (GGGI) officially launched the project “Enhancing readiness for Vietnam’s net-zero target by improving access to climate-technology investment resources for small and medium-sized enterprises and startups.” The initiative aims to support Vietnam’s long-term development path—becoming a high-income country by 2045 and reaching net-zero emissions by 2050—by improving access to climate-technology investment resources for small and medium-sized enterprises (SMEs) and innovative startups.
Le Viet Anh, Deputy Director of the Department of Finance - Industry Economics, said green transformation is no longer optional but a requirement for businesses and society. He emphasized that mobilizing and allocating financial resources for the green transition is pivotal. While Vietnam has made progress in policy, industrial platform development, and the investment climate, expanding the market and improving access to finance remains a major challenge for many firms.
Nguyen Quang Thuan, Chairman of FiinGroup, highlighted that the core issues for climate-tech projects include improving financial feasibility (bankability) and de-risking. Because climate-tech sits at the intersection of technology and climate risk, he said investors need a clear legal framework and appropriate financial instruments to make projects more attractive. He also noted that startups face hurdles because ESG standards often apply more directly to large firms.
The article notes that the concept of “green” has historically been associated with renewable energy, but green transformation is broader. It can include technology improvements, process optimization, and resource reuse, such as waste-heat reuse in steel production. A transition-focused approach—rather than an absolute “green” model—can support gradual emission reductions across sectors including agriculture, processing industries, and traditional manufacturing.
It also points to a shift in capital flows toward sustainable projects, citing the growth of green-embedded bonds and syndicated loans as part of broader climate-related finance trends.
The KOICA-funded, GGGI-implemented project is expected to run through 2027. It is designed to address near-term needs and structural bottlenecks in Vietnam’s climate-finance market, with a focus on high-potential sectors including agriculture, circular economy, waste management, transportation, and energy.
Kim Juhern, head of the GGGI country office in Vietnam, said the project aligns with Vietnam’s direction of “fast, green, inclusive, and sustainable” development. He cited global demand, energy needs, stricter international market standards, and evolving carbon markets under the Paris Agreement, adding that strengthening corporate capabilities in supply chains is essential.
The project also highlights international cooperation opportunities. More than 10,000 Korean firms operate in Vietnam, creating potential to promote cooperation, expand markets, and deploy climate-tech solutions. The initiative aims to connect enterprises with funds and international partners, including Denmark, Canada, Germany, and the European Union.
Planned activities include:
The initiative is also framed as paving the way for green bonds through a series of regulatory developments. It includes ongoing efforts to define specific green criteria, project eligibility, and ESG alignment in the financial sector.
Overall, the project seeks to enhance cooperation among government, industry, and investors to accelerate the deployment of climate tech and green finance in Vietnam, while supporting the balance between economic growth and climate commitments.
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