The green bond market has been developing worldwide in the past decade, financing projects in renewable energy, energy efficiency and other eco-friendly industries combating climate change. In line with the United Nations Environment Programme, the government has approved the country's Green Growth Strategy for 2011 to 2020. As a result, municipal green bonds have been prepared and issued for green projects as pilot programmes in Ho Chi Minh City and Ba Ria-Vung Tau Province since 2016. According to Vietstock, the Vietnamese bond market gained an average annual growth of 24% per year for the period of 2011 to 2016 and mobilised VND2,000,000,000,000,000 ($86 billion) in 2017, equivalent to 40% of Vietnam's GDP for that year. Since the target revenue gained from the bond market is 65% of the GDP until 2030, there is still room for development of the Vietnamese bond market, including green bonds.
March 18, 2019