Vietnam promotes development agenda on sidelines of WEF 52

Meeting with British Minister and President of the 26th UN Climate Change Conference Alok Sharma, Deputy PM Khai said that Vietnam has implemented a range of comprehensive measures in the fields of energy transition and green growth model transformation in order to meet its commitment at COP26.

As ensuring energy security and reducing greenhouse gas emissions require international support in terms of resources, technology, and governance capacity, Vietnam hopes that the UK, the EU, and G7 countries will offer specific commitments to assisting the country in this field, he said.

In response, Sharma highly appreciated Vietnamese commitment to reducing the emissions to zero by 2050 at COP26, as well as its efforts to meet the goal through establishing a National Steering Committee for the implementation of its COP26 commitments.

He recalled that G7 members, at their meeting held in March, had agreed to include Vietnam on its priority list of energy co-operation thanks to the country’s strength in renewable energy. He added that he hopes G7 countries and Vietnam will quickly reach a co-operation agreement on a fair and sustainable energy transition.

While meeting with Borge Brande, president of the WEF, Deputy PM Khai suggested that the WEF continue to bring into full play its role as a bridge between the Government and businesses as a means of shaping development trends and promoting future growth engines.

The two sides were pleased to see that the partnership between Vietnam and the WEF is developing positively and substantively. Khai emphasised that Vietnam is focused on building an independent, self-reliant economy, whilst simultaneously accelerating international integration comprehensively and improving the country’s position amid the global supply chain.

The WEF President spoke highly of Vietnam’s development orientations and expressed his wish the WEF would continue to foster its partnership with the country in the fields of digital transformation, sustainable agricultural development, energy transition, and training of the labour force to meet market needs in the Industry 4.0 era.

The WEF will continue to work alongside Vietnam to organise the second National Strategic Dialogue in the near future, he assured.

While staying in Davos, Deputy PM Khai also received the executives of Vesta Wind System and New Development Bank (NDB).

At a meeting with Henrik Anderson, president and CEO of Vesta Wind System, Khai said the Government of Vietnam encourages foreign investors, especially those with capacity, experience, and finance, to develop renewable energy in the country.

In reply, Anderson assured Khai that Vietnam will continue to be one of the firm’s key markets moving forward.

Vesta Wind System is ready to discuss and co-ordinate with the Vietnamese Government to improve the efficiency and competitiveness of its energy industry, he said, hoping Vietnam will soon complete its Power Plan VIII toward energy transition and boast a stable pricing mechanism for renewable energy.

Receiving Marcos Troyjo, president of NDB, Deputy PM Khai said Vietnam is keen on expanding co-operation with the bank to gain greater financial assistance for its development projects.

Meanwhile, Troyjo told Khaii that NDB, a multilateral development bank, wishes to co-operate and provide financial support for Vietnamese economic recovery and development, with a primary focus on the fields of clean energy, transport infrastructure, irrigation, water resource management and sanitation, sustainable urban development, and economic co-operation and integration.

The 52nd WEF is taking place in Davos, Switzerland, on May 23 - 24.