Conference “Development of the Green Capital Market in Vietnam”

21/11/2017 - 645 Views

Hanoi, 10th November 2017 - The State Securities Commission of Vietnam and the Macroeconomic Reforms/Green Growth Programme of the Vietnam – German Cooperation co-organise a Conference on “Development of the Green Capital Market in Vietnam”. The Conference is held within the framework of the Macroeconomic Reforms/Green Growth Programme, implemented by GIZ Viet Nam on behalf of the German Federal Ministry of Economic Cooperation and Development (BMZ).

In order to implement the National Green Growth Strategy and National Action Plan on Green Growth for the period 2014 – 2020, the Minister of Finance had promulgated the Action Plan of the finance sector in implementation of the National Strategy on Green Growth for the period 2014 – 2020 (Decision no.2083/QĐ-BTC dated 20th October 2015), in which indentifies the task: “Develop and complete the financial policy framework for development of green capital market and green financial products”. This conference is another step following numerous efforts by the Ministry of Finance and the State Securities Commission of Vietnam to implement the strategic policies of the Government of Vietnam for a green economy, green growth, climate resilience and sustainability.

Round table discussion at the Conference

Participants in the conference are international experts globally and within the ASEAN region, regulators and policy makers from the Ministry of Finance and relevant line ministries, market players as well as experts from international organisations and key green programmes of GIZ. In the conference, participants are updated and discuss on green financial policies, green financial instruments/products, and green capital market in Vietnam. They are also shared by international and regional experts on experiences and best practices in the green capital market area. A number of recent crucial green financial products/instruments have been introduced , such as the Sustainability Index (VNSI) by the Hochiminh City Stock Exchange, Green Project Catalogue by the State Bank of Vietnam introduced this year, or the first municipal green bond pilot-issuance. For the first time there is a Sustainability Index on the stock market in Vietnam available, which can be considered to be a first gauge and indicator for benchmarking the sustainability of the corporate sector on the stock market in Vietnam. This is one of the initial outcomes achieved by Vietnamsese partners in cooperation with development partners, an active and effective contribution of which is from the Macroeconomic Reforms/Green Growth Programme of the Vietnamese – German Cooperation.

In the opening speech, Mr. Pham Hong Son, Vice Chairman of the State Securities Commission of Vietnam emphasises that to implement green growth, “it is very important to create cooperation among regulators, political and social organisations, the corporate society as well as investors”. Vice Chairman also appreciates GIZ’s support to the State Securities Commission, and expresses his wish to develop and implement “a policy framework for green finance and green financial products for active corporates on the Vietnam stock market” with cooperation from relevant line ministries and support from GIZ, and other international organisations.

Dr. Michael Krakowski, Programme Director and Chief Technical Advisor of the Macroeconomic Reforms/Green Growth Programme shares that the Macroeconomic Reforms/Green Growth Programme appreaciates efforts and active support of the Ministry of Finance, the State Securities Commission, the two stock exchanges and local authorities active in “creating appropriate policies fostering green finance and developing green financial products and re-allocate capital towards green investment”, and commits to “further cooperation on the long process to implement Vietnam's Green Growth, Climate response and Sustainable Development Strategy”./.


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