Just energy transition partnership jetp

The energy transition in Vietnam is tied to the rapid growth of the economy, urbanisation, and industrialisation. We have seen the strong aspiration of the government to speed up the energy transition while meeting the requirements of economic development and the goal of becoming a high-income country by 2045. Energy transition is more seen as a potential engine for employment, and this trend will likely grow, helping to build support for renewables. John Rockhold, head of the Power and Energy Working Group under the Vietnam Business Forum Fossil energy sources are gradually being replaced by green and clean energy sources, reducing greenhouse gas emissions and combating climate change, while Vietnam is one of the first countries to renew its nationally determined contribution to the United Nations Framework Convention on Climate Change in 2020. The roadmap for the country’s transition process towards green and sustainable development will not only need to ensure … [Read more...] about Displaying readiness for the energy transition in Vietnam

The seminar on the Vietnam - UK relations in Hanoi on March 21 (Photo: tienphong.vn) Hanoi (VNA) – A seminar was held in Hanoi on March 21 to look back on achievements during the 50 years of the Vietnam - UK diplomatic relationship and the prospects of future bilateral ties. Opening the event, Phan Anh Son, Vice President and Secretary-General of the Vietnam Union of Friendship Organisations (VUFO), said since the official establishment of the diplomatic relationship on September 11, 1973, bilateral ties have continuously been reinforced and developing. This is especially the case since the elevation of relations to a strategic partnership in September 2010, which has opened up many cooperation frameworks such as the strategic dialogue, the joint committee for economic and trade cooperation, and the working group on defence. Thanks to the effective implementation of the UK - Vietnam Free Trade Agreement ( UKVFTA ), bilateral economic links have been growing strongly. … [Read more...] about Seminar discusses 50 years of achievements, prospects of Vietnam – UK ties

Vietnam's foreign partners, such as AmCham and EuroCham, expect to further penetrate the domestic clean energy industry. Vietnam’s renewable energy sector remains attractive to international businesses, officials said on March 19 as they urged the Government to finalize the regulatory system soon. A wind power farm in the southern central province of Binh Thuan. Photo: The Hanoi Times According to Gregory Testerman, Chairman of the Board of Governors of the American Chamber of Commerce in Vietnam, US companies are looking for solutions in renewable development, especially gas-fired power, and offshore wind projects. Gregory said that Vietnam needs to prioritize sustainable energy sources at reasonable prices, adding that the nation will need technical and financial assistance to transition energy. AmCham Vietnam hopes to reach an agreement with the Vietnamese Government on power trade to cut carbon emissions and bring the economy into a state of … [Read more...] about International partners keen on Vietnam’s renewable energy sector

The event, entitled “Offshore Renewable Energy: Opportunities and Challenges to Green Transition,” drew the virtual and in-person participation of more than 200 domestic and foreign experts. It was jointly organized by the Diplomatic Academy of Vietnam (DAV) and the Konrad Adenauer Stiftung Foundation (KAS). In his remarks, Assistant to Foreign Minister Nguyen Minh Vu expressed optimism about the development of renewable energy in general and wind power in particular. In the long term, offshore wind power will be cheaper than current fossil fuel-based energy sources, he said, adding that other types of offshore renewable energy are also becoming indispensable elements of the modern, blue economy. Vietnam is committed to joining the common effort of mankind to promote clean energy, as demonstrated through its commitments at the 26th U.N. Climate Change Conference of the Parties (COP26) and the Just Energy Transition Partnership (JETP), the official said. Vietnam is an attractive … [Read more...] about Ocean dialogue discusses offshore renewable energy potential

To improve project readiness and provide opportunities to attract investment from Vietnamese and international investors, the schemes will receive tailored one-to-one and group support. This will include advice on technical aspects, financial models, materials, and advice on enhancing gender equality and social inclusion. The CFA is part of the UK government’s efforts to help Vietnam meet the commitments made by Prime Minister Pham Minh Chinh at COP26 in Glasgow two years ago, and offer support to implement the Vietnam Just Energy Transition Partnership (V-JETP) that was agreed upon in December last year. “The exciting and innovative projects selected to be part of CFA Vietnam underline the significant potential of the Vietnamese private sector to help tackle the climate crisis," British Ambassador to Vietnam, Iain Frew, said. "The expertise shared with these projects will help move them closer to finding investment, leading to reductions in carbon emissions for communities across … [Read more...] about Innovative low-carbon projects join UK’s climate finance scheme

Opening the event, Phan Anh Son, Vice President and Secretary-General of the Vietnam Union of Friendship Organizations (VUFO), said since the official establishment of the diplomatic relationship on September 11, 1973, bilateral ties have continuously been reinforced and developing. This is especially the case since the elevation of relations to a strategic partnership in September 2010, which has opened up many cooperation frameworks such as the strategic dialogue, the joint committee for economic and trade cooperation, and the working group on defense. Thanks to the effective implementation of the U.K. - Vietnam Free Trade Agreement (UKVFTA), bilateral economic links have been growing strongly. Trade in goods and services reached about GBP 5.9 billion (USD 7.2 billion) in 2022, up 12.4% year on year. The U.K. is currently a leading educational partner of Vietnam with 74 transnational educational programs of 23 British universities. The two sides have also unceasingly … [Read more...] about Seminar discusses 50 years of achievements, prospects of Vietnam – U.K. ties

The CFA is part of the UK Government's efforts to help Vietnam meet the commitments made by Prime Minister Pham Minh Chinh at COP26 in Glasgow in 2021. Nine low carbon projects from across Vietnam have been announced to be part of the first cohort of the Climate Finance Accelerator (CFA) Vietnam. The selected projects come from diverse sectors including renewable energy, resource and energy efficiency, electromobility, AFOLUs (agriculture, forestry and other land uses), decarbonised construction, circular economy and waste management, and have the potential to benefit communities across Vietnam. Deep C Green is one of the first nine low-carbon projects in Vietnam to join the CFA. Photo: Deepc.vn Projects will receive tailored one-on-one and group support to improve project readiness and chances of attracting investment from Vietnamese and international investors. This will include advice on technical aspects, financial models, and pitch materials, as well as … [Read more...] about UK-funded CFA to support nine low-carbon projects in Vietnam