Deputy Minister of Industry and Trade Truong Thanh Hoai holds a working session with CIP executives

The Vietnamese delegation at the working session included representatives from the the Department of Foreign Market Development and Multilateral Trade, the Electricity Authority of Viet Nam, the Vietnam Industry Agency, the Viet Nam National Industry-Energy Group (Petrovietnam - PVN), and Petrovietnam Technical Services Corporation (PTSC).

At the working session, CIP representatives gave an overview of the group's global operations and experience in investing in and developing large-scale renewable energy projects, particularly in offshore wind power. CIP is an investment management group specialising in renewable energy infrastructure, headquartered in Copenhagen. CIP has raised around EUR 43 billion for 15 funds, has more than 2,300 experts involved in projects worldwide, and has a presence in more than 30 countries. CIP representatives also shared information about the group's operations in Viet Nam and cooperation orientations for the coming period. CIP has operated in Viet Nam since 2019, gradually building cooperation with Vietnamese businesses and contributing to the development of offshore wind power.

One of the key issues discussed was the potential for developing an offshore wind power supply chain in Viet Nam. CIP said Viet Nam had developed considerable capabilities in a number of areas, including turbine tower manufacturing, steel structures, offshore substations, technical services, ports and logistics. Several Vietnamese businesses have supplied products and services for offshore wind power projects in international markets. CIP said this provided an important foundation for Viet Nam to further strengthen domestic capabilities, develop an offshore wind power industrial ecosystem and gradually participate more deeply in the global renewable energy value chain.

At the working session, Deputy Minister Truong Thanh Hoai recognised CIP's experience, investment capacity and long-term interest in the Vietnamese market, particularly the group's proactive efforts to strengthen cooperation with PVN, PTSC and Vietnamese businesses in offshore wind power. The Deputy Minister said that in the energy transition process, Viet Nam not only aims to develop additional clean energy sources but also seeks to build a competitive energy industry, create domestic added value, and enhance the position of Vietnamese businesses in regional and global supply chains.

On that basis, the Deputy Minister asked CIP to continue strengthening coordination with regulatory agencies, PVN, PTSC and Vietnamese businesses; share experience in offshore wind power project development, international capital mobilisation, project management and supply chain development. The two sides also discussed the conditions needed for offshore wind power development in Viet Nam, including the investment environment, policy mechanisms, infrastructure development, power grid connection, supply chains and the ability to mobilise financial resources for large-scale projects. The Deputy Minister said the Ministry of Industry and Trade was coordinating with relevant agencies to continue improving the legal framework, mechanisms and policies to facilitate renewable energy development, including offshore wind power, while ensuring energy security, investment efficiency and sustainable development.

Deputy Minister Truong Thanh Hoai expressed his hope that, with its experience in developing renewable energy projects worldwide, CIP would continue to work alongside Vietnamese agencies and businesses, contributing to the development of offshore wind power, strengthening domestic supply chain capacity and supporting Viet Nam's energy transition.