Vietnam’s Deputy PM Casts Business Sector as Decisive Force in Net Zero Push

Vietnam’s Deputy Prime Minister Nguyen Van Thang told delegates at a Hanoi energy forum on July 8 that the private sector will ultimately determine whether the country succeeds in its shift to a low-carbon economy. Speaking at the “World Energy and Environment Forum – Vietnam 2026,” organized around the theme of Vietnam’s route to Net Zero, he said the government would not trade environmental protection for economic growth and pointed to two recent policy anchors — a Politburo resolution on energy security through 2030 (with a vision to 2045) and a National Assembly resolution setting energy development policy for 2026–2030 — as the institutional basis for emissions-reduction targets. He added that a further resolution on green and energy transition is currently being drafted.

Thang laid out four priorities for the transition: a phased, stable shift away from fossil fuels that keeps supply secure while gradually cutting their share through cleaner technology; growth models that raise environmental, social and governance standards without sacrificing environmental integrity; treating green finance and carbon markets as core pillars — including expanding green bonds and green credit, tax incentives for green projects, and completing the domestic carbon trading platform to establish a transparent carbon-pricing mechanism; and mobilizing businesses and local authorities as the frontline implementers. He urged companies to audit their technologies, compile emissions inventories, disclose environmental data transparently, and take part in the carbon market, and he asked the International Renewable Energy Agency and developed-country partners for further practical support. VCCI Vice President Nguyen Quang Vinh, also speaking at the event, said Net Zero has become a benchmark of national and corporate competitiveness and described businesses as the vanguard translating sustainability goals into action.