Decision Providing Guidance on Identifying Green Projects, Circular Projects and Applying the ESG Framework

On 17 September 2026, the Prime Minister of the Government of Vietnam issued Decision No. 46/2026/QD-TTg providing guidance on identifying green projects and projects meeting circularity criteria, and on applying the environmental, social and governance (ESG) standards framework. The Decision takes effect on 1 November 2026.

Green projects and circular projects

A green project is a project that falls within one of the project types listed in Appendix I of the Decision, pursues the corresponding objectives, and meets all of the requirements set out in that Appendix.

A project meeting circularity criteria is a project in one of the sectors, fields or product categories listed in Appendix II of the Decision. Such projects fall into four groups:

• Circular design and production: projects that apply one or more circular measures in product design, production processes or service delivery in order to reduce the extraction and use of non-renewable resources and water; improve the efficiency of resource, raw material and material use; use energy economically and efficiently; and increase the use of environmentally friendly raw materials and materials.
• Circular use: projects that apply one or more circular measures such as reuse, repair, renovation, upgrading, refurbishment, repurposing, remanufacturing, or the leasing or sharing of products, equipment and facilities, in order to extend the service life of materials, components, structural elements, equipment, products and goods.
• Resource recovery: projects that apply one or more circular measures such as the collection and recycling of by-products and waste, or other measures, in order to limit waste generation and minimize adverse environmental impacts.
• Industrial symbiosis and circular linkages: projects that apply circular measures across sectors, or within industrial parks, industrial clusters, urban areas, or residential areas, in order to use raw materials, materials, energy, and resources efficiently, extend product life cycles, limit waste generation, and minimize adverse environmental impacts.

Applying the ESG framework

The ESG framework is set out in Appendix VI of the Decision. It comprises mandatory legal compliance criteria (Section I) and voluntary criteria (Section II). Enterprises, household businesses and individual business operators select voluntary criteria appropriate to the scale of their operations, and the criteria selected must cover all three pillars: environmental, social and governance. This requirement does not apply to those who apply an ESG framework based on international standards. The minimum number of voluntary criteria is as follows:

• Household businesses and individual business operators: at least 3 voluntary criteria from Section II of Appendix VI;
• Small and micro enterprises: at least 6 voluntary criteria;
• Medium-sized enterprises: at least 12 voluntary criteria;
• All other enterprises: at least 18 voluntary criteria.

The ESG report will serve as a basis for considering eligibility for interest rate support in accordance with applicable regulations. Reporting entities must publish their reports and are responsible for the information they disclose.

The full text of the Decision is available at the link.