Japan supports Vietnam’s energy transition goal, says JBIC governor

VOV.VN - Japan welcomes Vietnam’s energy transition efforts and desires to work closely with the Southeast Asian nation towards realizing Japanese initiated Asia-Zero Emissions Community (AZEC) goal, said Tadashi Meadea, governor of the Japan Bank for International Cooperation (JBIC).

Meeting with National Assembly Chairman Vuong Dinh Hue in Hanoi on July 27, Meadea said during his current visit he has proposed Vietnam soon establish a joint working group on AZEC to devise specific plan of actions.

He also vowed to help Vietnam effectively implement the Just Energy Transition Partnership (JETP) deal to which both are signatories. To this end, he said JBIC has committed a US$300 million grant through the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) to implement renewable energy projects. The Japanese bank has also pledged to provide loans at zero or very low interest rates with better lending conditions.

On this occasion, Meadea revealed that Japan, Australia and the US would also assist Vietnam in dealing with climate change challenges.

Hue for his part welcomed Japan’s AZEC initiative and said Vietnam is trying to undertake specific cooperation activities with Japan.

He said the National Assembly of Vietnam is willing to send delegates to the joint working group on AZEC, but proposed that the two countries should make clear the connotation of this initiative and its operational mechanism in relation with the Vietnam – Japan partnership.

“We do hope this initiative will be soon undertaken in Vietnam,” said the top legislator.

As countries are seeking to restructure supply chains to adapt to trade fluctuations, Hue proposed that the two countries should have substantive cooperation programmes to maintain and develop strategic supply chains, including the energy supply chain.

He also reminded that the two countries have great potential to develop biomass energy, by converting coal power into biomass energy according to certain roadmaps, as well as to develop wind power and solar power suitable to climate change in Vietnam and Asia.

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