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Last updated: Monday, November 12, 2018


Reinforcing Cooperation in Sustainable Energy

Posted: Monday, July 10, 2017

The Delegation of the European Union to Vietnam and the Ministry of Industry and Trade (MOIT) have recently organised a high-level meeting for the launching of the Vietnam Energy Partnership Group (VEPG). This is an opportunity for development partners and MOIT to exchange views on the development of the energy sector in Vietnam.

The Ministry of Industry and Trade of Vietnam and Development Partners have advocated cooperating on energy development in Vietnam in the context of the 2030 Agenda for Sustainable Development and the UN Framework Convention on Climate Change. They will endeavour to align Official Development Assistance (ODA) to the extent possible with national policies and systems, and enhance coordination and dialogue for effective ODA to the energy sector. This includes efforts to create the conditions for more investment in sustainable energy, to increase access to modern energy services and to improve the efficiency of energy infrastructure and use.

In a context where the cost of renewable energy technologies is falling, it is time to unleash the potential of the numerous and powerful driving forces around us: cities and regions, citizens, cooperatives, investors, businesses. Energy transition to a greener economy will contribute to the fight against climate change by reducing greenhouse gas concentration to safe levels. More energy efficiency and more renewables improve air quality for citizens, reduce geopolitical risk by limiting import dependency and generate green growth together with thousands of additional jobs.

Minister of Trade and Industry Tran Tuan Anh said the consultations among Development Partners and Vietnamese government agencies have affirmed the necessity of setting up a Vietnam energy partnership group. The foundation of this framework will create a more comprehensive and coherent mechanism of cooperation which will enhance the attraction of resources, improve efficiency of high-level consultations on policies, as well as partly help Vietnam in the implementation of objectives on energy security and socio-economic development. This will also support Vietnam in implementing its national efforts and international commitment on sustainable development.

“Sustainable energy development is a key objective for Vietnam's economy and we are strongly committed to make the best of our efforts to help Vietnam in addressing this important challenge. This requires a comprehensive approach, taking into consideration the socio-economic development goals of the country. Achieving a greener economy through sustainable energy is good for Vietnam and therefore good for us all," emphasised Ambassador Bruno Angelet, Head of Delegation of the European Union to Vietnam.

At the event, Ambassador Bruno Angelet and Minister Tran Tuan Anh also signed a Letter of Intent for continued cooperation towards a performing and sustainable energy sector in Vietnam.

This Joint Declaration aims at reaffirming strong EU support to assist Vietnam in achieving the objectives of the seventh and thirteenth Sustainable Development Goal: "Ensure access to affordable, reliable, sustainable and modern energy for all (SDG 7)" and "Take urgent action to combat climate change and its impacts (SDG 13)" adopted at the United Nations Sustainable Development Summit on 25 September 2015, as well as the Nationally Determined Contribution of Vietnam submitted to the United Nations Framework Convention on Climate Change (UNFCCC), the so-called Paris Agreement on climate change which entered into force on 4 November 2016.

The Joint Declaration will allow increased cooperation in the energy sector, in particular in support of Vietnam's commitments to supply sufficiently high-quality energy for socio-development, to diversify energy investments and business models, to develop a competitive energy market and to promote renewable energy sources and energy efficiency.

Huong Giang

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