Vietnam Should Enhance Guidance on Carbon Market Development: Expert

Vietnam should enhance the procedures and guidelines to guarantee a comprehensive and unambiguous legal corridor on carbon credit market development, said Associate Professor Nguyen Thuong Lang, Lecturer of the School of Trade and International Economics under the National Economics University.

Although the country currently has a directive, it is necessary to issue a legal corridor in a timely, clear, consistent, and targeted manner to encourage relevant units to actively engage in the carbon market development, Mr. Lang noted.

The expert also suggested Vietnam learn from foreign experiences by participating in the international carbon credit market and proactively access technical support from international organizations such as the World Bank and Asian Development Bank.

Mr. Lang stressed that the main challenge to Vietnam is a lack of understanding of the carbon credit market and its profitability. (VietnamNews)