$28 Billion: Vietnam’s Launchpad to Achieve Millennium Goals

“Vietnam is committed to rigorously implementing the Millennium Development Goals and achieving net-zero emissions by 2050. We are ready to open our market and establish a legal framework to attract green capital, green technology, and digital technology from international partners.” – This is an excerpt from Prime Minister Pham Minh Chinh’s keynote address at the opening and plenary session of the Autumn Economic Forum 2025 (November 24–30), themed “Green Transition in the Digital Era.”

Addressing a forum of over 1,500 domestic and international delegates, Prime Minister Chinh emphasized Vietnam’s readiness to collaborate closely with countries, partners, and businesses under the principle of “harmonious benefits and shared risks.”

Simultaneously, Vietnam will maximize support for investors while adopting smart governance and advanced global management practices tailored to the country’s context.

Experts at the forum highlighted that green transition is no longer a trend but a necessity for sustainable development. Effective capital mobilization mechanisms are essential to drive this transition.

TTXVN cited a report by the Ho Chi Minh City Institute for Development Studies and international partners, predicting that Ho Chi Minh City will require approximately VND 990 trillion (USD 38 billion) over the next decade to achieve its green and digital transition goals. This equates to an annual capital need of around USD 4 billion for the city alone.

Meanwhile, Vietnam’s updated Nationally Determined Contributions (NDC) report indicates that the country needs roughly USD 28 billion for green transition by 2030.

To meet this demand, Deputy Minister of Finance Do Thanh Trung outlined three key solutions: developing the green financial market, allocating state budgets for green initiatives, and expanding international capital mobilization alongside legal reforms.

According to the World Economic Forum (WEF), green finance refers to any structured financial activity—products or services—designed to deliver environmentally beneficial outcomes.

It encompasses loans, debt mechanisms, and investments aimed at fostering green projects, mitigating the climate impact of conventional projects, or both.

In its 2025 report, PwC noted that green finance has become a mainstream trend, with ESG (Environmental, Social, and Governance) criteria increasingly integrated into investments. Green finance has evolved from niche initiatives to a critical component of the global financial market, driven by the need to address environmental challenges and transition to a low-carbon economy.