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Vietnam's pilot carbon market aimed at supporting its net-zero commitment by 2050 is delayed until late 2026, highlighting challenges in institutional capacity and regulatory clarity. The merger of functions into the Ministry of Agriculture and Environment has created friction, complicating the establishment of necessary data systems.

The European Union's Carbon Border Adjustment Mechanism, effective in 2026, increases urgency for a domestic carbon price to offset costs for exporters. Major emitters, including thermal power, steel, and cement, face uneven readiness in monitoring and reporting.

Current training programs are insufficient to meet the demand for carbon professionals. Vietnam needs to implement a phased pilot with clear allocation rules and price stability measures to enhance market credibility and competitiveness.