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PM approves Viet Nam Carbon market development project
The Prime Minister has issued Decision No 232/QĐ-TTg to approve the establishment and development of Việt Nam’s carbon market.
The project’s primary goal is to establish a carbon market in Việt Nam to help meet greenhouse gas (GHG) emission reduction targets set in the Nationally Determined Contributions (NDC), while minimising costs for businesses and society.
The initiative aims to create new financial flows for GHG reduction efforts, support the transition to green technologies, and enhance the competitiveness of Vietnamese businesses in both domestic and international markets.
The project is also designed to accelerate the development of a low-carbon economy and address climate change, working toward the goal of achieving net-zero emissions by 2050.
By June 2025, the project targets to complete the legal framework for the exchange of GHG emission quotas and carbon credits, including development of mechanisms for carbon credit trading and offsetting, and establish necessary infrastructure for carbon market operations.
Additionally, the project aims to boost the management capacity of relevant Government agencies and raise awareness among businesses, organisations and individuals about the carbon market.
The project introduces two primary market commodities: Greenhouse Gas Emission Quotas and Certified Carbon Credits, which will be tradable.
It also outlines a detailed roadmap for the carbon market, with a pilot phase running from 2025 to 2028 and the market officially launching nationwide in 2029.
Under this project, key tasks include developing the carbon market’s commodities, registering participants, creating a national registry and carbon trading platform, organising market operations, and enhancing awareness and capacity building. — VNS
OTHER NEWS
Sweden exports to Vietnam
| Products | 2023 | 2024 | Change (%) |
|---|---|---|---|
| All products (USD) | 946,177,285 | 1,045,257,808 | 10.5 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 19,165,998 | 22,081,635 | 15.2 |
| Plastic products | 12,832,993 | 20,996,659 | 63.6 |
| Rubber | 446,292 | 608,125 | 36.3 |
| Bags, purses, suitcases, hats, umbrellas | 23,342,180 | 30,291,549 | 29.8 |
| Products of rattan, bamboo, sedge and carpet | 10,006,604 | 9,734,672 | -2.7 |
| Wood and articles of wood | 19,785,539 | 23,304,807 | 17.8 |
| Textiles and garments | 85,375,192 | 103,949,043 | 21.8 |
| Footwears, parts of such articles | 55,367,635 | 68,645,589 | 24.0 |
| Materials for textiles and garments, and footwares | 4,099,633 | 6,291,836 | 53.5 |
| Ceramic products | 1,428,338 | 2,760,669 | 93.3 |
| Articles of iron or steel | 11,193,987 | 19,815,881 | 77.0 |
| Other metals and products | 530,533 | 1,267,667 | 138.9 |
| Computers, electrical products, part thereof | 82,037,211 | 99,772,055 | 21.6 |
| Telephone sets, parts thereof | 388,034,771 | 327,899,421 | -15.5 |
| Machinery, mechanical appliances, equipment, parts thereof | 104,724,400 | 123,932,125 | 18.3 |
| Toys, sports equipment and parts | 8,704,517 | 10,149,651 | 16.6 |
Sweden imports from Vietnam
| Products | 2023 | 2024 | Change (%) |
|---|---|---|---|
| All products (USD) | 342,014,488 | 427,551,885 | 25.0 |
| Other petroleum products | 3,078,789 | 2,755,510 | -10.5 |
| Chemical products | 22,403,142 | 12,003,498 | -46.4 |
| Pharmaceutical products | 82,354,594 | 113,414,056 | 37.7 |
| Plastic materials | 2,681,303 | 3,121,639 | 16.4 |
| Plastic products | 7,006,422 | 6,793,979 | -3.0 |
| Wood and articles of wood | 7,649,664 | 5,258,624 | -31.3 |
| Paper products | 35,408,748 | 41,541,128 | 17.3 |
| Iron or steel | 14,306,356 | 14,555,489 | 1.7 |
| Articles of iron or steel | 7,968,009 | 7,959,386 | -0.1 |
| Computers, electrical products, part thereof | 2,727,050 | 5,771,811 | 111.7 |
| Telephone sets, parts thereof | 66,037 | 63,265 | -4.2 |
| Other machinery, equipment, tools and spare parts | 100,890,808 | 143,686,249 | 42.4 |
Denmark exports to Vietnam
| Products | 2023 | 2024 | Change (%) |
|---|---|---|---|
| All products (USD) | 356,539,022 | 444,368,762 | 24.6 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 39,842,322 | 50,878,475 | 27.7 |
| Coffee | 4,085,129 | 3,937,131 | -3.6 |
| Plastic products | 19,858,226 | 26,260,327 | 32.2 |
| Bags, purses, suitcases, hats, umbrellas | 10,287,900 | 15,551,576 | 51.2 |
| Products of rattan, bamboo, sedge and carpet | 4,939,929 | 6,934,376 | 40.4 |
| Wood and articles of wood | 29,401,565 | 35,938,551 | 22.2 |
| Textiles and garments | 58,022,273 | 67,762,337 | 16.8 |
| Footwears, parts of such articles | 26,210,192 | 22,435,889 | -14.4 |
| Ceramic products | 4,087,353 | 4,817,634 | 17.9 |
| Articles of iron or steel | 26,227,243 | 47,203,752 | 80.0 |
| Other machinery, equipment, tools and spare parts | 19,208,393 | 22,402,507 | 16.6 |
| Electric wires and cables | 31,513,706 | 30,752,365 | -2.4 |
| Transport vehicles and spare parts | 5,865,202 | 6,619,950 | 12.9 |
| Furniture products from materials other than wood | 19,497,461 | 27,664,207 | 41.9 |
| Toys, sports equipment and parts | 7,281,255 | 5,422,161 | -25.5 |
Denmark imports from Vietnam
| Products | 2023 | 2024 | Change (%) |
|---|---|---|---|
| All products (USD) | 210,162,130 | 231,981,090 | 10.4 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 17,248,350 | 10,065,040 | -41.6 |
| Milk and dairy products | 5,403,022 | 5,225,269 | -3.3 |
| Chemical products | 22,145,007 | 24,958,199 | 12.7 |
| Pharmaceutical products | 14,841,053 | 21,788,350 | 46.8 |
| Plastic products | 7,190,078 | 11,422,324 | 58.9 |
| Materials for textiles and garments, and footwares | 158,963 | 303,555 | 91.0 |
| Iron or steel | 137,386 | 189,081 | 37.6 |
| Articles of iron or steel | 4,037,001 | 6,625,096 | 64.1 |
| Computers, electrical products, part thereof | 3,683,841 | 5,395,394 | 46.5 |
| Other machinery, equipment. tools and spare parts | 50,843,973 | 72,753,832 | 43.1 |
| Electric wires and cables | 1,953,008 | 2,601,897 | 33.2 |
Norway exports to Vietnam
| Products | 2023 | 2024 | Change (%) |
|---|---|---|---|
| All products (USD) | 214,622,494 | 136,362,267 | -36.5 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 6,086,886 | 9,469,013 | 55.6 |
| Fruits and vegetables | 2,585,152 | 3,386,075 | 31.0 |
| Cashew nuts | 8,141,360 | 8,161,405 | 0.2 |
| Plastic products | 3,196,919 | 2,851,506 | -10.8 |
| Bags, purses, suitcases, hats, umbrellas | 8,367,700 | 7,607,528 | -9.1 |
| Wood and articles of wood | 4,102,319 | 2,852,790 | -30.5 |
| Textiles and garments | 15,291,120 | 10,891,128 | -28.8 |
| Footwears, parts of such articles | 13,901,484 | 20,317,258 | 46.2 |
| Articles of iron or steel | 2,693,085 | 1,370,943 | -49.1 |
| Cameras, camcorders and components | 5,600,582 | 5,475,822 | -2.2 |
| Other machinery, equipment, tools and spare parts | 7,516,749 | 14,182,660 | 88.7 |
| Transport vehicles and spare parts | 108,006,993 | 8,666,926 | -92.0 |
| Furniture products from materials other than wood | 1,506,956 | 3,245,765 | 115.4 |
Norway imports from Vietnam
| Products | 2023 | 2024 | Change (%) |
|---|---|---|---|
| All products (USD) | 430,221,242 | 516,906,723 | 20.1 |
| Fish and crustaceans, molluscs and other aquatic invertebrates | 282,767,060 | 320,878,776 | 13.5 |
| Chemical products | 4,729,874 | 4,846,655 | 2.5 |
| Fertilizers | 28,729,621 | 39,939,218 | 39.0 |
| Articles of iron or steel | 9,259,925 | 8,449,929 | -8.7 |
| Other machinery, equipment. tools and spare parts | 47,523,345 | 79,170,791 | 66.6 |
OTHER NEWS
Việt Nam embraces circular economy with national action plan till 2035
Deputy Prime Minister Trần Hồng Hà has signed a decision issuing the national action plan for putting circular economy into practice until 2035.
The plan spans key sectors, including agro-forestry-fisheries, energy, mineral extraction and processing; manufacturing and processing, chemicals, construction, transport, services and tourism, waste management, urban areas and residential zones, industrial parks and clusters, and concentrated production, trade and service zones.
Central to this plan is the vision of establishing a sustainable production and consumption system that optimises the use of natural resources while reusing materials to their fullest potential. By minimising waste generation and reducing negative impacts on the environment, Việt Nam will promote robust circular economy models in production and trade.
The plan also aims to drive innovation, enhance labour productivity, encourage green practices, foster a culture of sustainability, generate green jobs and develop new value chains within the circular economy.
Between now and 2030, Việt Nam is committed to reducing the extraction and use of non-renewable and water resources, while simultaneously enhancing the efficiency of resource, material and energy usage.
The plan aims to achieve land, water and mineral resource efficiency levels that rival those of ASEAN’s leading countries. Biomass and solid waste-based power plants are expected to reach a capacity of 2,270MW, or 1.5 per cent of the country’s total power generation. Renewable energy is set to make up at least 47 per cent of the total primary energy, while national energy consumption is targeted to decrease by 8–10 per cent.
It aims for 95 per cent of solid household waste in urban areas and 80 per cent in rural areas to be collected and treated, with less than 50 per cent of this waste going directly to landfill.
By 2035, Việt Nam envisions an inclusive circular economy that blends innovation, high competitiveness, economic prosperity, environmental sustainability and social equity. The aim is to position the country as a leading hub for innovation within the ASEAN Economic Community (AEC), attracting investment and providing cutting-edge technologies, equipment, and services that support circular economy practices.
One of the key tasks and solutions outlined in the plan is to enhance awareness, knowledge, skills and best practices for the circular economy. Public communication campaigns and training courses at all educational levels will be promoted while an information-sharing platform will be launched to support the adoption of circular economy models. Furthermore, legal regulations and technical standards will be refined to facilitate the integration of these practices across various sectors.
The Ministry of Natural Resources and Environment was assigned to work with ministries, ministry-level agencies, and provincial authorities to issue policies and framework guidelines that will underpin the circular economy adoption. — VNS
VN to speed up development of its semiconductor industry
The Ministry of Industry and Trade (MoIT) is accelerating moves to fast track the country’s semiconductor industry, identifying clear guidelines and responsibilities.
It has started implementing Decision No. 152/QĐ-BCT, approved by the Politburo, to speed up the development of the sector, under a strategy with several targets until 2030 and a vision for 2050.
The strategy focuses on advancing the sector by consistently and effectively implementing key tasks and solutions. Its goal is to encourage participation from organisations and individuals while implementing mechanisms for monitoring, reviewing and evaluating progress.
Minister of Industry and Trade Nguyễn Hồng Diên called for all relevant ministries and governmental organisations to identify priorities, establish clear timelines and adopt a practical, results-driven approach. The emphasis is on ensuring coordinated and decisive implementation to meet the plan’s objectives.
Under the decision, the Department of Industrial Development under the MoIT has been appointed as the lead agency responsible for overseeing the plan. It has been tasked with monitoring progress, compiling reports and recommending adjustments as needed to maintain alignment with strategic goals. Meanwhile, the ministry is to work closely with the Ministry of Finance to secure the necessary financial resources.
Units assigned specific responsibilities were told to prepare detailed plans, including content and cost estimates, which will be submitted to the Planning and Finance Department for review and budget allocation. Units are also encouraged to look for additional resources to support implementation.
Progress reports are made mandatory for all units and will be reviewed by the department to ensure consistent oversight and add necessary updates to the plan.
Economists and policymakers said the decision reflected Việt Nam’s commitment to positioning itself as a key player in the global semiconductor industry by 2030 with a clear and focused approach to realise its potential, as well as its advantages, paving the way for long-term growth and technological advancement.
In recent years, Việt Nam has attracted substantial foreign investments in its semiconductor sector. Notably, South Korea’s Hana Micron has invested approximately US$930 million, and US-based Amkor Technology has announced a $1.6 billion plan for a major facility in the country. Intel also operates its largest back-end chip factory here, with these investments underscoring the Southeast Asian economy’s importance in the global semiconductor supply chain.
The semiconductor market in Việt Nam has been experiencing robust growth. Revenue is projected to reach $21.45 billion in 2025, with integrated circuits dominating the market at an estimated $18.33 billion. The market is expected to show an annual growth rate (CAGR) of 9.99 per cent from 2025 to 2029, resulting in a market volume of $31.39 billion by 2029, according to data gatherer Statista. — VNS
UNCTAD leader highlights Việt Nam’s role in global trade
Việt Nam has emerged as a remarkable example of how trade and investment can fuel inclusive growth and development, according to Rebeca Grynspan, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD).
In an interview with a Switzerland-based Vietnam News Agency (VNA) correspondent ahead of the 55th Annual Meeting of the World Economic Forum (WEF) in Davos, to which Prime Minister Phạm Minh Chính is leading a high-ranking Vietnamese delegation, Grynspan underscored that UNCTAD strongly advocates for trade and investment as key drivers of inclusive development, with Việt Nam exemplifying the potential.
The UNCTAD leader expressed her impression of Việt Nam’s socio-economic progress, praising its efforts in improving the welfare of its people and achieving sustainable development.
She highlighted Việt Nam’s accomplishments in three critical areas: education, logistics and seaports, and innovation, which Grynspan noted, have been pillars in the country’s growth.
Việt Nam’s commitment to multilateral cooperation is also evident in its active participation in global forums such as the WEF, Grynspan added. This year marks PM Chính’s second consecutive attendance at the Davos meeting, a move she considers highly significant.
The meeting provides an excellent platform for Việt Nam to showcase its achievements and share its development model with the world, Grynspan remarked. — VNS