On 27 July 2026, Deputy Prime Minister Nguyễn Văn Thắng signed Decision No. 1413/QD-TTg approving the Scheme for Comprehensive Reform of Vietnam’s Financial Market in Line with Achieving High and Sustained Growth Targets to 2045. Going beyond macroeconomic targets or market size, the Decision sets a landmark milestone: shifting the focus of the financial market towards green growth and establishing a sustainable investment ecosystem that meets international standards.
For listed companies and their executives, this is not merely a policy direction but the “starting whistle” for a comprehensive shake-out and repositioning.
1. Decoding Decision 1413: When ESG becomes a “passport” on the capital market
The strategic highlight of the Scheme lies in its orientation: Developing a roadmap for a green capital segment on the stock market, developing green shares, green corporate bonds and dedicated ESG investment funds, and upgrading ESG indices to approach international standards.
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The shift of smart money: In the new era to 2045, investment capital (both FDI and domestic capital) will no longer be “lenient” towards businesses chasing only short-term profit. Major investment funds and international financial institutions are obliged to follow strict screening standards. Businesses that do not integrate ESG will automatically be excluded from the “cycle” of preferential financial products such as green bonds or green shares.
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Transparency pressure from green stock indices: The State’s push to upgrade domestic ESG indices towards international standards means that “greenwashing” will be tightly curbed. Disclosed data must be genuine, transparent and independently verified.
2. Multidimensional impacts on listed companies
a. A golden opportunity: Access to low-cost capital
Listed companies that build a standardised ESG strategy early will be able to access green capital at a significantly lower cost of funding than on the traditional market. Issuing green corporate bonds or being included in the portfolios of dedicated ESG investment funds will provide a solid financial springboard for expansion projects.
b. A major challenge: Implementation capacity and international-standard data
Most listed companies still regard ESG as a “box-ticking reporting” exercise or a reactive measure. As Decision 1413 is implemented alongside stricter indices, businesses will face considerable pressure:
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Shortage of specialist staff: Businesses lack teams with deep understanding of how to report under international standards (such as GRI, IFRS) and how to translate sustainability indicators into financial value.
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Compliance risk: Failing to meet new disclosure standards can depress share prices, erode the trust of strategic investors and lead to removal from large-cap index baskets.
3. The answer from the VietESG ecosystem: Turning policy into competitive advantage
As the market enters a new growth cycle tied to the Government’s strict requirements and global standards, listed companies cannot go it alone. Getting ahead of Decision 1413 requires a fundamental shift, from governance mindset to real measurement capability.
As an independent ESG assessment and rating organisation working to international standards, VietESG supports businesses through:
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Training in-house ESG expert teams: Providing strategic thinking and practical skills so that key staff master international standard frameworks and are ready to make data transparent in line with regulators’ direction.
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An independent assessment and rating system: Helping businesses self-review and optimise their ESG scores, building solid credibility with investment funds and policymakers.
Conclusion
Decision 1413/QD-TTg is the roadmap for Vietnam’s financial market over the next two decades. Businesses that proactively seize it and standardise their governance model to ESG standards from today will hold the “golden key” that unlocks green capital and will lead the game on the stock market of the future.
