Page 402 - Ebook HTKH 2024

The National Assembly needs to have a plan; the Government needs to direct
relevant ministries and branches to urgently complete the legal frameworks related to

green cities, including (i) Regulations on classifying and certifying national green
projects to apply incentive policies need to consider the similarities between Vietnam's
green criteria and international standards. This makes it easier for businesses to
implement projects and attract domestic and foreign investment according to the same
system of standards.
When developing or promulgating legal documents under their functions, relevant
ministries and branches need to stipulate green criteria including levels corresponding
to different levels of policy incentives. At that time, enterprises issuing green bonds can

gradually access preferential policies as well as create goals/motivations to achieve
sustainable growth; at the same time (ii) Issue guidelines for issuance activities and post-
issuance reporting of green bonds, taking into account specific regulations between the
operations of credit institutions and economic organizations.
The issued mechanisms and policies need to support and encourage enterprises to
green transformation and issue green bonds through continued research and expansion

of policies to support enterprises to issue green bonds such as supporting issuance costs,
tax incentives, etc.; promoting training and developing human resources on the
environment; promoting propaganda and encouraging enterprises to implement green
transformation. It is necessary to encourage investors to participate in investing in green
bonds: consider issuing preferential policies large enough to encourage investors to buy
bonds (for example, incentives on credit limits, taxes on investment yields, etc.); raise
awareness of investors' responsibility towards sustainable development, community,

and society.
Secondly, it is necessary to encourage enterprises to conduct credit ratings.
Instead of suspending credit ratings, the Government needs to consider solutions
to encourage enterprises to conduct credit ratings before issuing corporate bonds in
general and green bonds in particular.
Thirdly, it is necessary to promote and strengthen the activities of market makers

of corporate bonds in general and green bonds in particular
+ Promote the role of market makers
It is necessary to encourage investment funds to participate in the corporate bond
market. This is one of the members that actively contributes, contributing to increasing
liquidity for the entire bond market. Investors will gather small capital sources from
non-professional investors, thereby allocating their investment portfolios to bonds or
stocks. With the available advantages of expertise as well as financial potential,
investment funds will buy and sell corporate bonds to make a profit.

+ Professionalize the stock brokerage team. It is necessary to improve the expertise
and professionalism of stock brokerage experts, and there should be sanctions and
regulations on ethical standards for brokers.

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