In May 2026, the Vietnamese government promulgated Decree No. 180/2026/ND-CP. The decree establishes a floor price mechanism, mandatory official verification by the Ministry of Agriculture and Rural Development (MARD), and a double-counting prevention lock for domestic forest carbon credit transactions, with enforcement beginning in July 2026. This marks a turning point for Vietnam's carbon market—one of Southeast Asia's most forest-rich nations—as it begins to function in earnest as an international carbon credit procurement source.
Key Provisions of Decree No. 180
The decree establishes three core provisions. First, MARD defines the price calculation methodology per tonne of emission reduction credits and mandates a minimum floor price for initial transactions. This prevents dumping-level low-price deals and preserves market price credibility. Second, credits must undergo official MARD verification before entering circulation, serving as external quality assurance for project integrity. Third, transferred credits are locked in the system to prevent double counting. Foreign currency transactions are also permitted, reflecting a design that anticipates access by overseas investors, including Japanese companies.
Vietnam's Carbon Sequestration Potential
According to MARD data, Vietnam's forest area covers approximately 14.87 million hectares (about 42% of national territory), comprising 10.1 million ha of natural forest and 4.7 million ha of planted forest. The Cần Giờ mangrove forest alone (on the outskirts of Ho Chi Minh City) reportedly has a supply potential of one to five million credits per year, positioning it as one of Southeast Asia's largest potential REDD+ credit sources. This decree represents the full legislative formalization built on experience from the North Central region pilot program (Decree 107/2022/ND-CP, running through end-2026), adding further credibility in terms of institutional maturity.
Implications for Procurement and Supply Chain Managers
For companies using carbon credits as a supplemental tool to reduce Scope 3 emissions, Vietnam warrants serious consideration as a future procurement source. The three requirements—floor price, MARD verification, and double-counting prevention—offer transparency comparable to or exceeding major voluntary carbon market standards such as Verra VCS and Gold Standard. That said, the decree only takes effect in July 2026, and establishing actual market liquidity will likely require several additional months. Companies planning procurement within FY2026 should continuously monitor post-enforcement regulatory implementation and the volume of credits in circulation.