After more than three decades of developing industrial parks, Vietnam is facing the need to reshape the industrialization model. The problems of pollution, waste of energy, and poor waste management have no longer been a single problem but have become an integration barrier.
The context of globalization, the trend of greening the supply chain and increasingly strict ESG standards force Vietnam to not hesitate. This is the time when green credit needs to be considered a strategic lever.
As shared by the Standing Deputy Governor of the State Bank Dao Minh Tu at the forum, green credit in Vietnam has had a solid start, with an average growth rate of over 22,2%/year. From only 15 credit institutions participating in 2017, more than 50 units have now incurred outstanding green credit.
However, the proportion of green credit in total outstanding loans is currently only 4.6% - a modest figure compared to the potential and urgent need for conversion.
Da Nang - is the model that shows the guiding role of green credit in the transformation process.
The conversion of Hoa Khanh Industrial Park to the ecological industrial park model has shown clear efficiency: Reducing emissions of more than 7,000 tons of CO2/year, saving tens of billions of VND per year and improving the capacity of industrial cooperation between businesses.
This success comes from technical support, but more importantly, financial support from preferential credit programs.
It is worth mentioning that while the demand for greening is increasing, the banking system still faces difficulties when lacking specific criteria to determine which is a "green project", leading to the time-consuming appraisal and supervision of credit, limiting the disbursement speed.
Many businesses, especially small and medium-sized enterprises, despite the need for technology transformation, are still not eligible for preferential credit due to problems with records, mortgaged assets or lack of ESG certificates.
This forum also shows an important message: Financial institutions are no longer the ones following the market, but must become the creators and leaders.
Green credit is not only a "preferential product", but a " strategic filter" to shape the development direction of industrial parks in the future, where environmental factors become the prerequisite criterion.
Converting the industrial park model from traditional to ecological is an inevitable step if Vietnam wants to compete in the global supply chain. And green credit is a key tool for Vietnam to realize its commitment to net zero emissions by 2050.
But to do this, it is necessary to reshape a development mindset - where banks, businesses and the state together create an industry that is no longer "heavy" on emissions, but focuses on responsibility.
