Da Nang moves to strengthen legal framework for carbon credit trading

Da Nang plans to strengthen its legal framework, develop technical infrastructure and pilot carbon credit projects at the Viet Nam International Financial Centre.

The Viet Nam International Financial Center in Da Nang is envisioned as a hub for attracting investment, developing new financial products, and connecting with international capital. The carbon credit market is one of the areas the city is seeking to promote, in line with its goals of advancing green finance and improving the mobilization of resources for economic development.

According to the city’s development plans, a key priority is to establish the legal foundation and technical infrastructure needed to support the operations of the International Financial Center. This will provide a basis for gradually exploring and implementing new trading models, including those involving carbon credit projects.

The city plans to pilot several carbon credit projects of an appropriate scale to facilitate transactions involving investors, international registries, and major buyers worldwide. This approach is expected to create opportunities to connect carbon credit-generating projects with international capital and market demand.

The pilot phase will also require completing the necessary legal and technical arrangements for trading. A sound legal framework is essential to support the implementation of new models at the center while facilitating connections among investors, registries, and carbon credit buyers.

Beyond the carbon market, Da Nang aims to develop green finance, tokenized real-world assets and financial products for projects requiring substantial capital. The city also seeks to attract reputable domestic and international fund management companies to participate in priority sectors, thereby expanding opportunities to mobilize resources for development.

Alongside efforts to establish its operational framework, the city will continue to promote investment, attract strategic investors and develop infrastructure to support the International Financial Center. These tasks are important steps toward enabling the center to expand its operations, develop green financial products, and strengthen links with international markets.

For the carbon credit sector, Da Nang's key priorities include establishing a legal foundation, preparing the necessary infrastructure, and selecting suitable pilot projects.

These efforts aim to gradually establish the conditions needed to facilitate carbon credit trading through the International Financial Center, contributing to the development of green finance and creating more opportunities to connect with international capital flows.

Previously, Da Nang Vice Chairman Tran Nam Hung issued an official directive requiring the Viet Nam International Financial Centre in Da Nang to take the lead, in coordination with the Department of Agriculture and Environment and relevant agencies and organisations, in mobilising and connecting green finance, climate finance and other legitimate domestic and international funding sources. 

Le Phi