81272696-Macroeconomic Reform/Green Growth Programme

The ‘Macroeconomic Reform/Green Growth Programme’, commissioned by the German Federal Ministry of Economic Cooperation and Development (BMZ) and implemented by the Deutsche Gesellschaft für internationale Zusammenarbeit (GIZ), aims at supporting the Vietnamese government in increasing the coherence of Vietnam's economic policy, including its green financial policy, green fiscal policy, and public financial management. The programme has been commissioned in 2018 and runs until December 2022. The total commissioning value amounts to EUR 14 000 000. A replenishment and extension until 03/2026 is planned. Focusing on the macro level, the programme includes four components to support the transition towards a green, inclusive and sustainable growth model. First, the programme supports the Ministry of Planning and Investment (MPI) in developing strategic policy documents, such as the Vietnam Green Growth Strategy, the socio-economic development plan, and the National Action Plan to implement the 2030 Agenda. To ensure effective monitoring, the programme furthermore supports the MPI and the General Statistics Office (GSO) in developing and integrating relevant indicators to measure the success of these planning documents. Second, the programme collaborates with the Central Institute for Economic Management (CIEM) under MPI in conducting relevant economic studies to facilitate evidence-based policy making on the political level. In that context, the programme analyses for instance the impact of the Covid-19 pandemic on the Vietnamese economy. Third, the programme supports the Ministry of Finance (MOF) to improve national budgeting, accounting for policy priorities in the area of sustainable public finance. Furthermore, the programme collaborates with MOF in the development and adjustment of tax instruments to incentivize investments in green technology. Finally, the programme cooperates with the State Bank of Vietnam (SBV) to introduce policies to promote green finance and fintech, e. g. by advising in the development of the Digital Banking Strategy or preparing the emission of green bonds. To ensure sustainability, the programme collaborates closely with national and subnational partner organisations, builds capacities on the individual, organisational, and societal level, and institutionalises results by integrating them in national policies and regulations. By cooperating with different institutions within the Vietnamese government, the transition towards an economically, ecologically, and socially sustainable growth model can be addressed in a strategic and integrated manner. Furthermore, the programme is embedded in the cluster ‘Sustainable Economic Development’ of GIZ in Vietnam, creating synergies e. g. with the GIZ-implemented programme ‘Social Dimensions of Green Growth’ and ‘Strengthening the Legal Development Capacity of the Office of Government’.