Hanoi, 27 January 2026 – A new concerted initiative to strengthen sustainable finance and support Viet Nam’s green transformation was officially launched in Hanoi this morning.
Implemented in partnership by government agencies and six organisations, the project “Shifting Investment Flows Towards Green Transformation” (SHIFT) reflects a shared commitment to advancing green investment and financing for the country’s energy transition.
The launch event opened with remarks from Mr. Chu Duc Lam – Director General of the Department of Sectoral Finance and Economics of the Ministry of Finance, Ms. Pham Thi Thanh Tung – Deputy Director General of Credit Department for Economic Sectors of the State Bank of Viet Nam and Ms. Alexandra Westwood – Attacheé of Economic Affairs and Development Cooperation of the German Embassy in Viet Nam. The event brought over more than 100 participants from other ministries, international organisations, financial institutions, private sectors and national media outlets.
Mr. Chu Duc Lam – Director General of the Department of Sectoral Finance and Economics – said, “Pursuing rapid yet sustainable growth, high yet greener, smarter and more inclusive growth, Viet Nam is committed to aligning with the global trend of dual transformation – digital and green transformation.”
He highlighted, “A successful green transition requires large-scale green investment and green finance, with sufficient scale to guide the market and create a strong leverage effect for businesses and the economy. The project launched today serves as a ‘policy catalyst’, helping to foster an enabling environment for green investment, green finance, and the energy transition in Viet Nam.”
Managed by Viet Nam’s Ministry of Finance, the project works in close coordination with key departments within the Ministry, the State Bank of Viet Nam, financial institutions and the private sector. SHIFT will create an enabling environment for green investment while supporting financial institutions as well as private enterprises – particularly women-led businesses – to navigate and accelerate the transition toward greener and more sustainable business models.
Ms. Pham Thi Thanh Tung – Deputy Director General of Credit Department for Economic Sectors, said, “In practice, Viet Nam’s financing needs for the green transition are substantial, underscoring the need to diversify capital-mobilisation channels – particularly by strengthening private-sector participation, developing capital markets, and ensuring the effective allocation of financial resources. It is also essential to continue strengthening the banking system’s capacity to deliver green finance, with the support and coordinated engagement of relevant agencies and institutions.”
She noted, “In this context, the launch of the SHIFT project is significant in supporting the banking system to address these challenges.”
The SHIFT project is part of Germany’s International Climate Initiative (IKI), commissioned by the German Federal Ministry for the Environment, Climate Action, Nature Conservation and Nuclear Safety (BMUKN).
Six organisations will work together to deliver the project, namely, Agora Energiewende, the Banking Academy of Viet Nam, the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, the International Finance Corporation (IFC), the Netherlands Development Organisation (SNV) and the United Nations Development Program (UNDP).
Ms. Alexandra Westwood – Attacheé of Economic Affairs and Development Cooperation of the German Embassy in Viet Nam – said, “Germany is providing considerable support to Viet Nam in implementing this project. Advancing green finance and clean energy is a complex process that requires policy frameworks, financial expertise and technical capacity. By combining strengths of all players, SHIFT will foster meaningful collaboration and generate greater impact in supporting Viet Nam’s national development and climate objectives.”
The launch event also featured a panel discussion on challenges faced by key beneficiaries in transitioning to greener business models and accessing green finance. The talk aimed to strengthen public-private collaboration and identify concrete, practical opportunities that can be supported effectively through the implementation of SHIFT.
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About SHIFT
SHIFT is a joint project that aims to accelerate the deployment of green and climate-friendly technologies and practices, supporting Viet Nam in achieving net-zero emissions by 2050. The initiative enhances knowledge and capacities of public and private stakeholders, with a focus on green finance and energy transition.
For further information, please contact:
- SHIFT focal point/GIZ: Ms. Nguyen Kim Ngan – Email: ngan.nguyen1@giz.de, Phone: +84 902163379
- SNV: Mr. Tran Van Hai – Email: htranvan@snv.org, Phone: 0984859992
- UNDP: Ms. Phan Hương Giang – Email: phan.huong.giang@undp.org, Phone: + 84 948466688
- Banking Academy of Viet Nam: Ms. Nguyen Thi Thu Hieu – Email: hieuntt@hvnh.edu.vn, Phone: +84 868343528
- IFC: Ms. Chu Van Anh – Email: canh1@ifc.org
- Agora Energiewende: Ms. Intan Cinditiara – Email: intan.cinditiara@agora-energiewende.de
