MoIT, EU, World Bank co-host Vietnam Energy Partnership Group

The meeting was chaired by H.E. Dang Hoang An – Deputy Minister of the Ministry of Industry and Trade, and co-chaired by H.E. Giorgio Aliberti - Ambassador of the European Union to Vietnam, and Mrs. Carolyn Turk - Country Director of the World Bank in Vietnam.

The event was organised in a hybrid format, allowing the participation of more than 150 delegates representing a broad range of energy sector stakeholders, such as ministries, sectoral and central agencies, Ambassadors, development partners, academia, NGOs, as well as private enterprises operating in the energy sector.

This year’s High-Level Meeting looked back at the achievements and positive contributions of the VEPG over the last 4 years of operation as a high-level policy dialogue platform connecting the Government of Vietnam with development partners and stakeholders to promote the development of Vietnam's energy sector.

An important highlight was the introduction of the five new technical working groups including: Power Sector Strategic Planning, Renewable Energy, Grid Integration and Grid Infrastructure, Energy Efficiency, and Energy Market.

At the event, the partnership also adopted the new slogan of the VEPG: “Together, delivering the sustainable energy transition in Vietnam!". The new slogan affirms VEPG's goal and ensures a coherent and complementary cooperation between energy sector stakeholders, to provide effective and efficient sector support and contribute to key policy-making processes that shape Vietnam’s energy transition.

In a high-level thematic panel discussion, delegates from renowned organisations actively exchanged ideas around the Power Development Plan VIII under the Government’s direction on sustainable energy transition, as well as the results and impacts of the 26th United Nations Climate Change Conference (COP26) on the orientation of Vietnam's energy sector.

International experience and recommendations were shared with the aim of removing technical and investment bottlenecks for the sustainable energy transition in Vietnam.

H.E Dang Hoang An, Deputy Minister of the Ministry of Industry and Trade (MOIT), informed that the ministry was assigned by the Government to develop the Power Development Plan VIII, closely following principal orientations set out in Resolution No. 55 of the Politburo, paying special attention to the major subjects related to the structure of the power sector, power sources, and synchronisation with the development of the power system and infrastructure.

Regarding VEPG’s role, he affirmed, "Over the years, the Vietnam Energy Partnership Group has fulfilled its role as a high-level policy dialogue forum between the Government of Vietnam and international partners, connecting international support to promote the development of the renewable energy market in Vietnam.

In 2021, VEPG has restructured its technical working groups, identified key topics tailored to the country's urgent needs, as well as leveraging supporting resources, both domestically and internationally. By cooperating with ministries, departments, sectors and local and foreign partners, the VEPG will support the government in developing even stronger measures to reduce greenhouse gas emissions to achieve net-zero emissions by 2050."

H.E. Giorgio Aliberti, Ambassador of the European Union to Vietnam, added, "Vietnam’s commitment to embarking on an energy transition towards a cleaner, greener energy mix and more efficient use of energy is an important contribution, not only to the sustainable development of its economy but also to the global fight against climate change.

The EU - as many other development partners that have gathered today - is here to provide support and expertise to make this energy transition happen, while ensuring access to affordable energy for all and protecting Viet Nam's competitiveness at local, as well as international level.”

“We will continue to provide financial support for the operation of the VEPG and will work with the ministry on a roadmap for the long-term financial sustainability of the partnership, including strategies to raise additional, public, private and development partners funds to sustain its operations. I am confident that the new structure of the VEPG will continue to provide a useful and unique platform to coordinate dialogue, concrete actions and inputs to fulfil Vietnam’s vision of its energy transition,” he said.

Mrs. Carolyn Turk, Country Director of the World Bank in Vietnam, also shared, "Over the past few decades, the energy sector has played a fundamental role in driving Vietnam's rapid and inclusive economic growth. In the coming decade, the energy sector needs to use less carbon – fossil fuel consumption that generates the largest amounts of greenhouse gas emissions among all sectors needs to be drastically reduced. This must be implemented in a way to ensure that both the demand for energy is met and the economic stability of industries is maintained. To achieve these goals, the World Bank looks forward to continuing our support for the Government of Vietnam in expanding the energy sector in a greener, more sustainable way."

During COP 26, Prime Minister Pham Minh Chinh confirmed Vietnam's willingness to develop and implement stronger measures to reduce greenhouse gas emissions with its own resources, together with the cooperation and support of the international community, both in terms of finance and technology transfer, including the implementation of mechanisms under the Paris Agreement to reach net-zero emissions by 2050.

To achieve this goal, it is required all energy sector stakeholders need to work hand in hand to ensure a sustainable transition, towards a green, circular, people-centred economy, leaving no one behind.