Solutions for mobilising sustainable investment capital for Vietnam’s coastal dike system to adapt to climate change

Abstract

In the context of climate change, about 2/3 of Vietnam’s coastal dike system does not meet safety standards to protect coastal populations and infrastructure. This study aims to assess the current state of the sea dike system and propose solutions to improve its safety and effectiveness. Meanwhile, state budget funds are insufficient to meet the investment needs for the sea dike system, making it crucial to mobilize sustainable investment sources for the construction, upgrading, and maintenance of this system. The article references countries' experiences worldwide while also studying Vietnam's legal and practical context. Based on this, it proposes several solutions for mobilizing sustainable investment capital for Vietnam's sea dike system to adapt to climate change. The specific solutions are as follows: (i) Optimize and diversify public investment sources; (ii) Attract and mobilize private capital; (iii) Maximize international funding and multilateral cooperation; (iv) Develop innovative financial mechanisms and risk management; (v) Strengthen institutional capacity and financial governance; and (vi) Integrate nature-based and sustainable development solutions. The successful implementation of these solutions contributes to mobilizing diverse, transparent, and sustainable investment capital to enhance climate change adaptation capacity for coastal areas in Vietnam.