Prime Minister welcomes GGGI’s goal to mobilize additional US$1 billion in green financing for Viet Nam

Pham made the point on Thursday in Ha Noi during a reception for GGGI Director-General Sang-Hyup Kim, who is in Viet Nam to attend the 4th Partnership for Green Growth and the Global Goals 2030 (P4G) Summit.

The Prime Minister reiterated Viet Nam's commitment to accelerating energy transition, green growth, and sustainable development, seeing them as key impetuses for the nation's growth in the new era.

He also treasured the institute's contributions to global sustainability efforts and its practical cooperation with various Vietnamese ministries, agencies and localities in the area, particularly its role in mobilizing financial resources for green projects in Viet Nam.

The host leader also suggested the GGGI back Viet Nam in policy consultancy and consultation, legal framework development, green capital mobilization, technology research and transfer, human resources training, and building a comprehensive green ecosystem.

Pham also called upon the GGGI to provide funding for both public sector and public-private partnership projects, enhance linkages with credit organizations and financial institutions to secure green growth capital, and provide consultations on the implementation of green projects in order to effectively optimize the targeted US$1 billion investment goal.

In reply, GGGI Director-General Sang-Hyup Kim applauded Viet Nam as a founding member and one of the GGGI's strongest partners.

"Viet Nam has the potential to become a core member of the organization," he added.

The GGGI has already mobilized over US$300 million for green investments in Viet Nam and is working towards the US$1 billion target by 2028.

He suggested the two sides expand cooperation particularly in connecting financial institutions to mobilize green finance, issuing green bonds, supporting startups, and establishing innovation centers to facilitate Viet Nam's green transition.

Kim agreed to continue substantive activities to support Viet Nam's green development path and strengthen cooperation between Viet Nam and South Korea in such areas as green transition, information technology, agriculture, and energy./.