LAW ON CREDIT FOR GREEN ECONOMIC DEVELOPMENT IN RELATION TO THE REQUIREMENT OF ENSURING SUSTAINABLE DEVELOPMENT IN VIETNAM TODAY

Abstract

Abstract: This paper elucidates the conceptual connotations of the green economy and 
credit for green economic transformation and development. Research findings indicate that 
the Vietnamese financial market operates with a significant dependence on credit capital, 
positioning the banking system as the pivotal provider of funding for economic activities, 
including green production and consumption. However, the current legal framework governing 
credit extension has yet to incorporate “green” substantive provisions into its regulations. 
Looking forward, the “green” dimension within credit law must be further integrated into 
specific credit operations. Furthermore, there is an imperative to promote diversified financial 
sources to satisfy the funding requirements for green economic development, supplementing 
traditional credit capital.