GGGI aims to mobilize USD 1 billion in green development investment in Vietnam

P4G Summit (Hanoi, April 15-17, 2025), themed "Sustainable and people-centered green transition,” is the largest multilateral high-level event on green growth hosted by Vietnam in the 2021-2026 period. Vietnam Agriculture and Nature Newspaper (VAN) will update regularly Vietnam's strong commitments, proactive role and international responsibility at the P4G Summit.

Prime Minister Phạm Minh Chinh commended the GGGI Director-General's participation in the P4G Summit and acknowledged GGGI’s ongoing support and contributions to global efforts toward green growth and the achievement of sustainable development goals.

The Prime Minister stated that Vietnam is accelerating its energy transition, green growth, and sustainable development processes, viewing them as key drivers of national development in the new era.

He called on GGGI to continue proposing concrete, practical, and effective initiatives for closer cooperation with Vietnam. In particular, he encouraged support in the form of policy consultation and legal framework development; mobilization of green finance; technology research and transfer; human resource training; and the creation of a green ecosystem, including a green society, green people, and green practices, to drive inclusive and sustainable green growth and contribute directly to Vietnam's socio-economic development.

The Prime Minister also proposed that GGGI provide funding support not only for the public sector but also for public-private partnerships. He encouraged stronger connections with financial institutions and credit organizations to ensure accessible funding for Vietnam’s green growth. Furthermore, he requested GGGI’s advisory support in designing and implementing green projects, including setting conditions, standards, and implementation mechanisms to ensure the swift and efficient disbursement of the targeted USD 1 billion in green finance.

GGGI Director-General Sang-Hyup Kim stated that the organization has supported the mobilization of over USD 300 million for green investment in Vietnam, with the goal of reaching USD 1 billion by 2028. He emphasized that there remains significant potential for cooperation between the two sides, particularly in connecting financial institutions to mobilize green finance, issuing green bonds, supporting startups, and building an innovation center to advance Vietnam’s green transition in partnership with the National Innovation Center (NIC).

Mr. Kim praised Vietnam as a founding and one of the strongest members of GGGI, highlighting that the country has the potential to become a key, core member. He affirmed GGGI’s desire for an increasingly strong partnership with Vietnam.

He also acknowledged Vietnam’s strategic thinking, long-term vision, and strong leadership through concrete actions in green transition, digital transformation, and AI development. He expressed confidence that Vietnam will achieve its ambitious goals in these increasingly critical areas.

GGGI is committed to continuing its concrete support for Vietnam’s green development and transition process, while also promoting stronger and closer cooperation between Vietnam and South Korea across green transition, IT, agriculture, and energy.

At the conclusion of the meeting, the GGGI Director-General proposed, and the Prime Minister agreed in principle, to the orientation of signing a cooperation agreement between the Government of Vietnam and GGGI.

Prime Minister expressed his gratitude for GGGI’s concrete contributions and its positive cooperative relationship with Vietnam’s ministries, sectors, and localities, especially in mobilizing financing for green projects in Vietnam.

The Global Green Growth Institute (GGGI) originated as a research institute in South Korea. In 2012, it was formally established as an international organization through a multilateral agreement at the United Nations Conference on Sustainable Development (Rio+20) in Brazil.

GGGI’s mission is to promote green growth by providing technical assistance, research opportunities, and multi-stakeholder collaboration, with a particular focus on developing countries.

From 2017 to 2024, GGGI has delivered technical support and policy advisory services to 15 central and local government agencies in Vietnam. It has also provided technical assistance to more than 20 private sector companies and helped mobilize over USD 305 million for green projects in the country.

In December 2024, the Vietnam-GGGI Country Planning Framework for the 2024-2028 period was launched, setting an ambitious goal of mobilizing USD 1 billion in green investment for Vietnam.