Vietnam carbon-market state of play, January 2025 decisions plus 2025 decrees: Prime Minister Decision 232 (January 24, 2025) approved the domestic-market roadmap — pilot ETS June 2025 to December 2028 with free allocation to high-emitting sectors (power, steel, cement), full operation from 2029 with auctions beside free allocation, HNX as carbon exchange, MONRE registries and MRV, certified credits (CDM/JCM/Article 6.4) eligible within government limits. Decree 119/2025 plus Decision 263 set pilot allowance budgets for 2025-2026. For CCUS specifically the track is incentives-without-law: Decision 38/2020 designates CCUS a priority technology (tax perks, tech-programme finance, R&D eligibility), while the 2023 Petrovietnam-JOGMEC gaps study (licensing, liability, monitoring, safety, cross-border) feeds a phased regulatory roadmap toward 2036 commercialisation. The market is being built first; the CCUS statute follows.
National Governance Context
Vietnam Overview
Aggregate National Maturity Index (Peak Strength)
Governed Policies
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Identified Projects
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