Ho Chi Minh City needs $34bn for green transition over next decade: economist

Lich cited a draft plan for 2026–35 prepared by the Ho Chi Minh City Institute for Development Studies and VinUni University, which estimates annual funding needs at nearly $4 billion.

Deputy Minister of Finance Do Thanh Trung told the forum that the government has been expanding green-finance channels since 2023, including green bonds and green credit.

He said companies and banks such as Vingroup, BIM Group, and BIDV had issued about $1.2 billion in green bonds by the end of 2024.

Outstanding green credit has reached about VND700 trillion ($26.5 billion), reflecting rising demand for environmentally focused investment, Trung said.

He added that the finance ministry is drafting the 2026–30 public-investment plan, which will allocate support for Ho Chi Minh City in green transport, environmental protection, and climate-adaptation projects.

The ministry is also working to deepen the government bond market and update transparency and listing rules to encourage corporate bond issuance, particularly green bonds.