Vietnam is moving from carbon market planning to implementation. The Ministry of Agriculture and Environment has set an October 10, 2026 deadline for the National Registration System for Greenhouse Gas Emission Quotas and Carbon Credits, following Decision 3696/QD-BNNMT. The legal basis rests on Article 139 of the 2020 Environmental Protection Law, with work underway on a dedicated Climate Change Law and amendments to the environmental law. The country is also building bilateral carbon credit arrangements under Article 6 of the Paris Agreement. Agreements with Singapore and Japan are approved, while negotiations with South Korea and Switzerland are expected to close by the end of 2026. A separate blue carbon roadmap for 2026-2030 aims to standardize classification, data, and monitoring so coastal carbon projects can attract private investment. For market participants, the key details to watch are MRV standards, double counting rules, and whether the registry actually goes live on schedule. Those factors will decide whether Vietnam's carbon exchange trades real volumes or stays symbolic.
