On July 10th, in Paris (France), Deputy Minister of Finance Vo Thanh Hung and AFD's Global Director Philippe Orliange signed the cooperation framework to enhance the capacity for developing green finance policy.
The signing ceremony was attended by Mr. Jérémie Pellet - Director-General of Expertise France, officials from AFD and Expertise France, Mr. Dinh Toan Thang - Vietnamese Ambassador to France, officials from the Vietnamese delegation and the Vietnamese embassy in France.
The cooperation framework between the Ministry of Finance and AFD aims to support the Ministry of Finance in enhancing its capacity to develop green financial policies through collaboration in the following areas: strengthening the capacity for analyzing and assessing green tax policies, supporting the improvement of legal frameworks and enhancing the capacity for issuing green government bonds in the financial market, enhancing research capacity in managing and utilizing revenues from carbon markets, and other cooperation issues agreed upon in writing by both parties.
During the ceremony, Deputy Minister Vo Thanh Hung praised the role of AFD, the main agency of the French government in providing official development assistance to Vietnam, especially in supporting Vietnam to enhance climate resilience and promote efficient energy use. The Ministry of Finance believes that the cooperation between the Ministry of Finance and AFD through Expertise France will contribute to the implementation of Vietnam's international commitments on climate change.
Mr. Philippe Orliange, AFD's Global Director, emphasized that green budget management is a strength of France, and AFD desires to promote cooperation between Vietnam and France in green public finance management.
As the implementing agency, Expertise France expressed readiness to work alongside the Ministry of Finance in carrying out cooperation activities related to green tax policies, carbon market development, and green bond issuance.
After the signing ceremony, the Ministry of Finance will coordinate with Expertise France to develop a specific action plan to implement the cooperation framework. The framework will be effective from the signing date until December 31, 2024, with the possibility of extension if both parties agree in writing.
In 2023, AFD celebrates its 30th anniversary of operations in Vietnam, while the two countries mark 50 years of diplomatic relations and 10 years of strategic partnership. The signing of this cooperation framework between the Ministry of Finance and AFD, with Expertise France as the implementing agency, serves as a foundation for AFD, Expertise France, and the Ministry of Finance to further enhance cooperation in the financial sector, particularly in green finance. Furthermore, the framework will contribute to help Vietnam achieve its commitment to reaching net-zero emissions by 2050.
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