HCMC – Vietnam plans to begin test running its carbon market next year, with full nationwide operation slated for 2029. This initiative marks a significant step in the country’s transition to a green economy and its efforts to reduce greenhouse gas emissions.
On October 7, Deputy Prime Minister Tran Hong Ha chaired a meeting to review the draft project for establishing and developing Vietnam’s carbon market.
According to the plan, from 2025 to 2028, the carbon market will undergo a trial phase across the country. During this period, regional and international exchanges and sales of carbon credits will be put on hold.
In 2029, Vietnam will officially launch its carbon market nationwide, publicly announcing the eligible carbon credits for trading and identifying the participants in the carbon credit exchange. The country will also explore opportunities to connect its domestic carbon market with international markets.
During the meeting, the deputy prime minister instructed the Ministry of Finance to work closely with the Ministry of Natural Resources and Environment to review and finalize the legal framework for the establishment, management, and operation of the domestic carbon market.
