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pricing policies such as imposing taxes on polluting systems or reducing taxes on
business units that use wastewater treatment systems and reuse materials in production.

However, to achieve this, the legal system must be strong enough, enforced strictly,
objectively and fairly with all members of society.
(9) Develop and complete specific legal frameworks for green finance as well as
business investment projects that affect the environment. At the same time, improve
monitoring systems for green capital and issue strict regulations on green projects. The
central bank needs to introduce green credit standards and a list of green industries/fields
for general and consistent application. In addition, raise awareness of all people,
agencies and organizations about the importance and the role of green finance to

promote the effectiveness of green growth and raise people's awareness in using green
credit capital sources. The government can introduce policies and regulations to
encourage private investment in green sectors such as: Tax incentives, subsidies and
loan guarantees to reduce the risks and costs of investing in renewable energy, energy
efficiency and other green industries. Also invest in financial literacy and education
programs to help people understand the importance of green finance and the benefits of

investing in sustainable projects. This can help build demand for green finance and
encourage individuals and businesses to seek green investment opportunities.
Furthermore, promote the combination of green finance and comprehensive finance to
promote sustainable development. Investment in specific renewable energy: Increasing
investment and use of renewable energy, such as solar, wind, hydropower, and biomass
energy helps reduce dependence on fossil energy sources and reduce greenhouse gas
emissions. This also provides opportunities for the development of the domestic

renewable energy industry. Protect and restore the environment: To build a green growth
economy, protecting and restoring the environment is an important factor. Policies need
to be implemented to protect biodiversity, manage and regenerate natural resources, and
minimize negative environmental impacts from business activities. Developing green
technology: Investing and encouraging the development of green technology plays an
important role in building a green growth economy. It is necessary to promote research

and development of clean and efficient technologies, such as clean energy, wastewater
treatment technology, and recycling technology, to replace traditional technologies that
pollute the environment.

References
1. Nguyen The Binh (2022). Developing green finance in Vietnam. Finance Magazine (July 2022),

15-18.
2. Cisco (2019). Cisco APAC SMB Digital Maturity Index. USA: Cisco;
3. Electronic information portal of the Ministry of Natural Resources and Environment (2022). The
Ministry of Natural Resources and Environment proposes environmental criteria for projects granted green credit
and issuance of green bonds. Https://monre.gov.vn.
4. European Commission (2010). Europe 2020: A Strategy for smart, sustainable and inclusive growth.
Brussels.
5. Nannette Lindenberg (2014). Definition of Green Finance – Proposal for the BMZ.

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